100 Avenue A - Retail 100 Avenue A
100Avenue Avenue 100 A -A Retail
Newly East East VillageVillage Long Term Leased Retail Interest NewlyDeveloped Developed Long Term Leased Retail Condo
FOR SALE
Asking Price: $23,950,000
A retail interest at the base of a newly developed eight-story, luxury condo building designed by Issac & Stern located on the east side of Avenue A between East 6th and East 7th Streets. The retail is long term leased to Blink Fitness for 15 years with two (2) five (5) year options. Blink Fitness has 47 locations in the NYC Metro area and is an affiliate of Equinox Holdings, whose long term debt is rated B2 by Moody’s. The retail unit consists of 6,805 SF of ground floor space with 11’ 8” ceilings and a 5,247 SF lower level with 9’ 2” ceiling heights for a total of 12,052 SF. Additionally, the space features a glass facade and over 76’ of frontage on Avenue A. It is located just south of Tompkins Square Park and within walking distance to the F, 6, N, R and L train stops. This is a rare opportunity to acquire a long term leased, low maintenance asset in the heart of one of the fastest growing neighborhoods of Manhattan.
PROPERTY INFORMATION BLOCK / LOT LOT DIMENSIONS LOT AREA ZONING
(1)
402 / TBD 108’ x 75’ 8,100 R7A* (C2-5 Overlay)
RETAIL FRONTAGE
76’
GROUND FLOOR SF
6,805
LOWER LEVEL SF
5,247
TOTAL RETAIL SF
12,052
RE TAXES (16/17)
TBD (Est. $103,882)
(1)
This May Be Adjusted Downward
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Michael DeCheser Carly Weinreb James Nelson Michael DeCheser Matthew Nickerson Darragh Clarke Vice Chairman Executive Director Senior Associate Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 660 7772 (212) 589 5114 (212) 696 2500 x397710 (212) 660 7772 (212) 660 7742 [email protected] (212) 660 7737 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo
Cushman & Wakefield 2016. Noclient warranty representation, express or implied, is made the accuracy orconnote completeness of connection, the information contained herein, and by same is submitted to errors, of or price, rental or other conditions, withdrawal without or property (other thanCopyright Cushman & Wakefield’s and the or Property offered by Cushman & Wakefield) is incidental only,to and is not intended to any affiliation, association, sponsorship or approval or between that whichsubject is incidentally depictedomissions, and Cushmanchange & Wakefield its client. notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
100Avenue Avenue 100 A -A Retail
Newly East East VillageVillage Long Term Leased Retail Interest NewlyDeveloped Developed Long Term Leased Retail Condo
FOR SALE
RETAIL REVENUE TENANT
TOTAL SF
LEASE EXP.
Blink Fitness
12,052
Oct-31
MONTHLY RENT
$/SF
ANNUAL RENT
$95,833
$95
$1,150,000
$95,833
$95
$1,150,000
(1)
12,052 (1)
Tenant Has Two (2) Five (5) Year Options At Pre-Stated Rents
EXPENSES REAL ESTATE TAXES (16/17) COMMON CHARGES UTILITIES
METRIC
AMOUNT
Projected (Tenant To Pay 100% Over Base Year)
$103,882
Actual
$49,535
Tenant Expense
-
TOTAL:
$153,417
EFFECTIVE GROSS INCOME:
$1,150,000
LESS EXPENSES: RE TAX REIMBURSEMENT: NET INCOME:
(2)
$153,417 100% Over Base Year (1)
TBD $996,583
(2)
These Charges May Be Lower Than Stated
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Michael DeCheser Carly Weinreb James Nelson Michael DeCheser Matthew Nickerson Darragh Clarke Vice Chairman Executive Director Senior Associate Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 660 7772 (212) 589 5114 (212) 696 2500 x397710 (212) 660 7772 (212) 660 7742 [email protected] (212) 660 7737 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo
Cushman & Wakefield 2016. Noclient warranty representation, express or implied, is made the accuracy orconnote completeness of connection, the information contained herein, and by same is submitted to errors, of or price, rental or other conditions, withdrawal without or property (other thanCopyright Cushman & Wakefield’s and the or Property offered by Cushman & Wakefield) is incidental only,to and is not intended to any affiliation, association, sponsorship or approval or between that whichsubject is incidentally depictedomissions, and Cushmanchange & Wakefield its client. notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
Newly East East VillageVillage Long Term Leased Retail Interest NewlyDeveloped Developed Long Term Leased Retail Condo
FOR SALE
Asking Price: $23,950,000
A retail interest at the base of a newly developed eight-story, luxury condo building designed by Issac & Stern located on the east side of Avenue A between East 6th and East 7th Streets. The retail is long term leased to Blink Fitness for 15 years with two (2) five (5) year options. Blink Fitness has 47 locations in the NYC Metro area and is an affiliate of Equinox Holdings, whose long term debt is rated B2 by Moody’s. The retail unit consists of 6,805 SF of ground floor space with 11’ 8” ceilings and a 5,247 SF lower level with 9’ 2” ceiling heights for a total of 12,052 SF. Additionally, the space features a glass facade and over 76’ of frontage on Avenue A. It is located just south of Tompkins Square Park and within walking distance to the F, 6, N, R and L train stops. This is a rare opportunity to acquire a long term leased, low maintenance asset in the heart of one of the fastest growing neighborhoods of Manhattan.
PROPERTY INFORMATION BLOCK / LOT LOT DIMENSIONS LOT AREA ZONING
(1)
402 / TBD 108’ x 75’ 8,100 R7A* (C2-5 Overlay)
RETAIL FRONTAGE
76’
GROUND FLOOR SF
6,805
LOWER LEVEL SF
5,247
TOTAL RETAIL SF
12,052
RE TAXES (16/17)
TBD (Est. $103,882)
(1)
This May Be Adjusted Downward
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Michael DeCheser Carly Weinreb James Nelson Michael DeCheser Matthew Nickerson Darragh Clarke Vice Chairman Executive Director Senior Associate Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 660 7772 (212) 589 5114 (212) 696 2500 x397710 (212) 660 7772 (212) 660 7742 [email protected] (212) 660 7737 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo
Cushman & Wakefield 2016. Noclient warranty representation, express or implied, is made the accuracy orconnote completeness of connection, the information contained herein, and by same is submitted to errors, of or price, rental or other conditions, withdrawal without or property (other thanCopyright Cushman & Wakefield’s and the or Property offered by Cushman & Wakefield) is incidental only,to and is not intended to any affiliation, association, sponsorship or approval or between that whichsubject is incidentally depictedomissions, and Cushmanchange & Wakefield its client. notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
100Avenue Avenue 100 A -A Retail
Newly East East VillageVillage Long Term Leased Retail Interest NewlyDeveloped Developed Long Term Leased Retail Condo
FOR SALE
RETAIL REVENUE TENANT
TOTAL SF
LEASE EXP.
Blink Fitness
12,052
Oct-31
MONTHLY RENT
$/SF
ANNUAL RENT
$95,833
$95
$1,150,000
$95,833
$95
$1,150,000
(1)
12,052 (1)
Tenant Has Two (2) Five (5) Year Options At Pre-Stated Rents
EXPENSES REAL ESTATE TAXES (16/17) COMMON CHARGES UTILITIES
METRIC
AMOUNT
Projected (Tenant To Pay 100% Over Base Year)
$103,882
Actual
$49,535
Tenant Expense
-
TOTAL:
$153,417
EFFECTIVE GROSS INCOME:
$1,150,000
LESS EXPENSES: RE TAX REIMBURSEMENT: NET INCOME:
(2)
$153,417 100% Over Base Year (1)
TBD $996,583
(2)
These Charges May Be Lower Than Stated
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Michael DeCheser Carly Weinreb James Nelson Michael DeCheser Matthew Nickerson Darragh Clarke Vice Chairman Executive Director Senior Associate Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 660 7772 (212) 589 5114 (212) 696 2500 x397710 (212) 660 7772 (212) 660 7742 [email protected] (212) 660 7737 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo
Cushman & Wakefield 2016. Noclient warranty representation, express or implied, is made the accuracy orconnote completeness of connection, the information contained herein, and by same is submitted to errors, of or price, rental or other conditions, withdrawal without or property (other thanCopyright Cushman & Wakefield’s and the or Property offered by Cushman & Wakefield) is incidental only,to and is not intended to any affiliation, association, sponsorship or approval or between that whichsubject is incidentally depictedomissions, and Cushmanchange & Wakefield its client. notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
