100 Avenue A - Retail 27 West 72nd Street - Massey Knakal
27 West Street 100 Avenue72nd A - Retail
Newly EastRetail VillageCondo Long Term UpperDeveloped West Side ForLeased Sale Retail Interest
FOR SALE
Asking Price: $16,500,000
A retail condo at the base of The Olcott, a luxury pre-war 162 unit condo building located on the north side of West 72nd Street between Columbus Avenue and Central Park West. The retail unit consists of 7,200 SF of ground floor space with 12'-16' ceilings and a 2,400 SF saleable lower level with 10' ceiling heights, for a total of 9,600 SF. The current owner bought out the previous tenant and now the former restaurant space that is vented is positioned to be leased immediately. Additionally, the space features over 60’ of frontage on West 72nd Street, vaulted ceilings, egress onto West 73rd Street, and an expansive kitchen with a walk-in freezer. The property is located between the active Columbus Avenue retail corridor and Central Park. It is also less than one block from the B and C train and less than two blocks from the 1, 2, and 3 train stop at 72nd Street which sees annual ridership of over 13 million people, making it one of the busiest subway stations in all of Manhattan. Neighboring retailers include The Ribbon Resaurant, Le Pain Quotidien, Chase Bank, and Swatch. This is a rare opportunity for an investor to acquire a vacant retail condo to lease on the fast growing 72nd Street retail corridor or a user to purchase and occupy for their own purpose.
PROPERTY INFORMATION BLOCK / LOT
1125 / 1201
DIMENSIONS
60' x 180' Irr.
VENTED
YES
RESTAURANT USE ALLOWED
YES
GROUND FLOOR SF
7,200
LOWER LEVEL SF
2,400
TOTAL RETAIL SF
9,600
RE TAX ASSESSMENT (16/17)
$1,853,954
RE TAXES (16/17)
$196,037
COMMON CHARGES (16/17)
$69,557
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Carly Weinreb Paul Smadbeck James Nelson Michael DeCheser Matthew Nickerson Vice Chairman Senior Associate Executive Director Darragh Clarke Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 589 5114 (212) 660 7760 (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 2017. 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. AG Offering SSL-DOCS1 1524609v23
27 West Street 100 Avenue72nd A - Retail
Newly EastRetail VillageCondo Long Term UpperDeveloped West Side ForLeased Sale Retail Interest
FOR SALE RETAIL REVENUE SPACE
TOTAL SF
LEASE EXP.
MONTHLY RENT
$/SF
ANNUAL RENT
Ground Floor
7,200
Vacant
$90,000
$150
$1,080,000
Lower Level
2,400
Vacant
$15,000
$75
$180,000
$105,000
$131
$1,260,000
9,600 *Yellow denotes projection at market rent
EXPENSES
METRIC
AMOUNT
REAL ESTATE TAXES (16/17)
Actual
$196,037
COMMON CHARGES
Actual
$69,557
Projected @ $1.00/SF
$9,600
Projected @ $1,000/Month
$12,000
INSURANCE MANAGEMENT TOTAL:
$287,194
EFFECTIVE GROSS INCOME:
$1,260,000
LESS EXPENSES: PROJECTED NET INCOME:
27 West 72nd Street
$287,194 (1)
$972,806
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Carly Weinreb Paul Smadbeck James Nelson Michael DeCheser Matthew Nickerson Vice Chairman Senior Associate Executive Director Darragh Clarke Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 589 5114 (212) 660 7760 (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 2017. 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. AG Offering SSL-DOCS1 1524609v23
Newly EastRetail VillageCondo Long Term UpperDeveloped West Side ForLeased Sale Retail Interest
FOR SALE
Asking Price: $16,500,000
A retail condo at the base of The Olcott, a luxury pre-war 162 unit condo building located on the north side of West 72nd Street between Columbus Avenue and Central Park West. The retail unit consists of 7,200 SF of ground floor space with 12'-16' ceilings and a 2,400 SF saleable lower level with 10' ceiling heights, for a total of 9,600 SF. The current owner bought out the previous tenant and now the former restaurant space that is vented is positioned to be leased immediately. Additionally, the space features over 60’ of frontage on West 72nd Street, vaulted ceilings, egress onto West 73rd Street, and an expansive kitchen with a walk-in freezer. The property is located between the active Columbus Avenue retail corridor and Central Park. It is also less than one block from the B and C train and less than two blocks from the 1, 2, and 3 train stop at 72nd Street which sees annual ridership of over 13 million people, making it one of the busiest subway stations in all of Manhattan. Neighboring retailers include The Ribbon Resaurant, Le Pain Quotidien, Chase Bank, and Swatch. This is a rare opportunity for an investor to acquire a vacant retail condo to lease on the fast growing 72nd Street retail corridor or a user to purchase and occupy for their own purpose.
PROPERTY INFORMATION BLOCK / LOT
1125 / 1201
DIMENSIONS
60' x 180' Irr.
VENTED
YES
RESTAURANT USE ALLOWED
YES
GROUND FLOOR SF
7,200
LOWER LEVEL SF
2,400
TOTAL RETAIL SF
9,600
RE TAX ASSESSMENT (16/17)
$1,853,954
RE TAXES (16/17)
$196,037
COMMON CHARGES (16/17)
$69,557
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Carly Weinreb Paul Smadbeck James Nelson Michael DeCheser Matthew Nickerson Vice Chairman Senior Associate Executive Director Darragh Clarke Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 589 5114 (212) 660 7760 (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 2017. 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. AG Offering SSL-DOCS1 1524609v23
27 West Street 100 Avenue72nd A - Retail
Newly EastRetail VillageCondo Long Term UpperDeveloped West Side ForLeased Sale Retail Interest
FOR SALE RETAIL REVENUE SPACE
TOTAL SF
LEASE EXP.
MONTHLY RENT
$/SF
ANNUAL RENT
Ground Floor
7,200
Vacant
$90,000
$150
$1,080,000
Lower Level
2,400
Vacant
$15,000
$75
$180,000
$105,000
$131
$1,260,000
9,600 *Yellow denotes projection at market rent
EXPENSES
METRIC
AMOUNT
REAL ESTATE TAXES (16/17)
Actual
$196,037
COMMON CHARGES
Actual
$69,557
Projected @ $1.00/SF
$9,600
Projected @ $1,000/Month
$12,000
INSURANCE MANAGEMENT TOTAL:
$287,194
EFFECTIVE GROSS INCOME:
$1,260,000
LESS EXPENSES: PROJECTED NET INCOME:
27 West 72nd Street
$287,194 (1)
$972,806
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Carly Weinreb Paul Smadbeck James Nelson Michael DeCheser Matthew Nickerson Vice Chairman Senior Associate Executive Director Darragh Clarke Vice 696 Chairman Executive Director Associate Director Associate Director (212) 2500 x397710 (212) 589 5114 (212) 660 7760 (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 2017. 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. AG Offering SSL-DOCS1 1524609v23
