454 WEST 20TH STREET 
               BETWEEN NINTH AND TENTH AVENUES 
                      Block: 717   Lot: 71 
 
SIZE:          17 X 92', 17 X 56 
 
DESCRIPTION:   A decontrolled five story renovated sunfilled Anglo- 
      Italainte townhouse on a treelined Chelsea landmark block that 
      overlooks the seminary with front and rear gardens. 
 
LAYOUT: 
FIRST + 
SECOND FLOORS: Lower duplex with private entrance under stoop. 
      Eat-in kitchen with wood burning fireplace. Full bathroom. 
      Large recreation room with entrance to garden. Heating plant 
      in small extension. Interior stairs to 2nd floor which contains 
      two bedrooms with wood-burning fireplaces, laundry room, and 
      full bathroom. This unit delivered vacant. 
 
 
THIRD FLOOR:   Charming parlor floor. Original details, wide plank 
      floors. Living room with wood-burning fireplace. Kitchen, 
      full bathroom. Large bedroom with non-working fireplace. 
 
FOURTH FLOOR:  Charming floor thru apartment with two woodburning 
      fireplaces and full bathroom. Leased at $1,850 per month 
      lease expires 11/98. 
 
FIFTH FLOOR:   Charming floor thru apartment with two woodburning 
      fireplaces and full bathroom. Leased at $1,800 per month, 
      lease expires 2/97. 
 
POTENTIAL 
INCOME:        Annual Total:           $120,000 
 
ESTIMATED 
EXPENSES:      Annhual Total:            25,000 
 
EXPENSES:      Real Estate Taxes:       $12,800 
               Utilities                  5,300 
               Painting/Repairs           2,300 
               Insurance                  2,700 
               Other                      1,900 
                                       ---------- 
               Total                    $25,000 
 
PRICE:         $2,200,000