158 East Broadway, New York, NY
158 East Broadway, New York, NY AKA 30 Canal Street
5-Story, 17 Units, Block Through Mixed-Use Building
FOR SALE East Broadway Side
Canal Street Side
PROPERTY INFORMATION Location:
North side of East Broadway, block through to Canal Street, between Essex and Pike Streets
Block / Lot:
283 / 70
Lot Size:
25' x 106.75'
Lot Area:
2,501
Approx. SF
Building Size:
25' x 106.75'
Approx.
Stories:
5
Approx.
Building Gross SF East Broadway Basement
2,426
Ground Floor
2,426
CA
PIKE STREET
NA
LS
TR
EE
T
Combined Total SF (Approx.) 2,426 2,426
2nd Floor
975
1,201
2,176 2,176
3rd Floor
975
1,201
4th Floor
975
1,201
2,176
5th Floor
975
1,201
2,176
Gross SF (Including Lower Level)
13,556
Gross SF (Above Grade)
11,130
Commercial Units:
1
Residential Units:
16
Zoning:
C6-2 Commercial
Residential
6.00
6.02
6.50
Total Buildable SF:
15,006
15,056
16,257
Minus Existing Structure:
11,130
11,130
11,130
Available Air Rights:
3,876
3,926
5,127
Assessment (16/17):
$ 755,827
Taxes (16/17):
$ 97,373
FAR:
DIVISION STREET
Canal Street
Community Facility
EAST BROADWAY
The subject property is a five-story mixed-use building, located between Essex and Pike Streets and runs block through from East Broadway to Canal Street. The ground floor is built full on the lot and currently occupied by a hardware store paying $12,500/mo with 7 years remaining on their lease. The tenant reserves the right to cancel lease after 3 years. Furthermore, the retail tenant benefits from lower level storage with great ceiling heights. Floors 2 through 5 are separated by 25’ x 10’ courtyard. There are 16 apartments in total. 8 apartments are on the East Broadway side and 8 apartments are on the Canal Street side. 6 of the 16 apartments will be delivered vacant. The remaining 10 units are occupied and rent stabilized. East Broadway serves as the neighborhood’s major retail corridor in Chinatown. Canal Street (at Straus Square) is one of the trendiest spots in Lower Manhattan. The property overlooks Seward Park and is steps from the F train station. In addition, there are many exciting developments nearby including Essex Crossing (one block north), the Jarmulowsky Bank Building at 54-56 Canal Street which is currently undergoing a building-wide conversion, and the 1920’s styled Metrograph theater located at 7 Ludlow Street. There are also plenty of popular restaurants and cafes in the area, including Fat Radish, Dimes, 12 Corner Cafe, 169 Bar, Clandestino Bar, etc. This offering poses an excellent opportunity to acquire a cash flowing block through property with excellent short and intermediate term upside potential in both the retail and apartments. The air rights are intact.
Asking Price: $11,000,000 For more information, please contact Exclusive Agents: Michael F. DeCheser Senior Managing Director (212) 660 7772 [email protected]
Darragh Clarke Director (212) 660 7737 [email protected]
Mei Ling Wong Director (212) 660 7716 [email protected]
Cushman & Wakefield 275 Madison Avenue, 3rd Floor New York, NY 10016 phone: 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
5-Story, 17 Units, Block Through Mixed-Use Building
FOR SALE East Broadway Side
Canal Street Side
PROPERTY INFORMATION Location:
North side of East Broadway, block through to Canal Street, between Essex and Pike Streets
Block / Lot:
283 / 70
Lot Size:
25' x 106.75'
Lot Area:
2,501
Approx. SF
Building Size:
25' x 106.75'
Approx.
Stories:
5
Approx.
Building Gross SF East Broadway Basement
2,426
Ground Floor
2,426
CA
PIKE STREET
NA
LS
TR
EE
T
Combined Total SF (Approx.) 2,426 2,426
2nd Floor
975
1,201
2,176 2,176
3rd Floor
975
1,201
4th Floor
975
1,201
2,176
5th Floor
975
1,201
2,176
Gross SF (Including Lower Level)
13,556
Gross SF (Above Grade)
11,130
Commercial Units:
1
Residential Units:
16
Zoning:
C6-2 Commercial
Residential
6.00
6.02
6.50
Total Buildable SF:
15,006
15,056
16,257
Minus Existing Structure:
11,130
11,130
11,130
Available Air Rights:
3,876
3,926
5,127
Assessment (16/17):
$ 755,827
Taxes (16/17):
$ 97,373
FAR:
DIVISION STREET
Canal Street
Community Facility
EAST BROADWAY
The subject property is a five-story mixed-use building, located between Essex and Pike Streets and runs block through from East Broadway to Canal Street. The ground floor is built full on the lot and currently occupied by a hardware store paying $12,500/mo with 7 years remaining on their lease. The tenant reserves the right to cancel lease after 3 years. Furthermore, the retail tenant benefits from lower level storage with great ceiling heights. Floors 2 through 5 are separated by 25’ x 10’ courtyard. There are 16 apartments in total. 8 apartments are on the East Broadway side and 8 apartments are on the Canal Street side. 6 of the 16 apartments will be delivered vacant. The remaining 10 units are occupied and rent stabilized. East Broadway serves as the neighborhood’s major retail corridor in Chinatown. Canal Street (at Straus Square) is one of the trendiest spots in Lower Manhattan. The property overlooks Seward Park and is steps from the F train station. In addition, there are many exciting developments nearby including Essex Crossing (one block north), the Jarmulowsky Bank Building at 54-56 Canal Street which is currently undergoing a building-wide conversion, and the 1920’s styled Metrograph theater located at 7 Ludlow Street. There are also plenty of popular restaurants and cafes in the area, including Fat Radish, Dimes, 12 Corner Cafe, 169 Bar, Clandestino Bar, etc. This offering poses an excellent opportunity to acquire a cash flowing block through property with excellent short and intermediate term upside potential in both the retail and apartments. The air rights are intact.
Asking Price: $11,000,000 For more information, please contact Exclusive Agents: Michael F. DeCheser Senior Managing Director (212) 660 7772 [email protected]
Darragh Clarke Director (212) 660 7737 [email protected]
Mei Ling Wong Director (212) 660 7716 [email protected]
Cushman & Wakefield 275 Madison Avenue, 3rd Floor New York, NY 10016 phone: 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
