294 third avenue new york, ny 10010
294 THIRD AVENUE NEW YORK, NY 10010 MIXED-USE BUILDING
FOR SALE BUILDING FEATURES
Block / Lot:
Located on the west side of Third Avenue between East 22nd and East 23rd Streets. 878 / 42
Lot Dimensions:
24 ‘ x 70’ IRR.
Lot Size:
1,520
Stories:
5 plus basement
Building Sq. Ft. :
6,288
(approx.)
Building Dimensions:
24’ x 70’ IRR., 48’ (flrs 2-5)
(approx.)
Zoning / FAR:
C2-8A (R10A Equivalent) / 10.0
Total Buildable Sq. Ft. :
15,200
Available Air Rights:
8,912
Assessment (15/16):
$382,531
R.E. Taxes (15/16):
$49,174
Location:
sq. ft. (approx.)
(approx.) sq. ft. (approx.)
PROPERTY DESCRIPTION
TAX MAP 878/42
Lexington Avenue
Third Avenue
East 23nd Street
East 22nd Street ASKING PRICE
$7,500,000
294 Third Avenue is a 24’ wide, 5-story plus basement, approximately 6,288 square foot mixed-use building in the vibrant Gramercy Park neighborhood. The walk-up building is located in between the luxury apartment residences at Instrata Gramercy (formerly known as Elektra) and just 30 feet south of the bustling southwest corner of Third Avenue and East 23rd Street. The property consists of six (6) residential apartments plus one (1) retail store. The entire building is subject to a NNN lease for $25,500 per year through July 14, 2020. The initial lease began in 1978 and was renewed for an additional 21 years back in 1999.The net lessee is responsible for all taxes, charges, operating costs and expenses and to keep and maintain the property in good working order and repair throughout the full term of the lease. The building benefits from it flexible zoning within the C2-8A (R10A equivalent) zoning district which permits 10.0 FAR as of right, allowing approximately 15,200 total buildable SF or roughly 8,900 square feet in unused air rights. 294 Third Avenue offers a unique opportunity to acquire a tremendous value-add investment property with exceptionally strong retail in close proximity to Gramercy Park, Madison Square Park, Stuyvesant Park and the Flatiron District.
FOR MORE INFORMATION, PLEASE CONTACT:
John F. Ciraulo
Craig M.Waggner
Vice Chairman Capital Markets (212) 660 7700 [email protected]
Director Capital Markets (212) 660 7744 [email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue 3rd Floor New York, NY 10016 nyinvestmentsales.com
FOR SALE BUILDING FEATURES
Block / Lot:
Located on the west side of Third Avenue between East 22nd and East 23rd Streets. 878 / 42
Lot Dimensions:
24 ‘ x 70’ IRR.
Lot Size:
1,520
Stories:
5 plus basement
Building Sq. Ft. :
6,288
(approx.)
Building Dimensions:
24’ x 70’ IRR., 48’ (flrs 2-5)
(approx.)
Zoning / FAR:
C2-8A (R10A Equivalent) / 10.0
Total Buildable Sq. Ft. :
15,200
Available Air Rights:
8,912
Assessment (15/16):
$382,531
R.E. Taxes (15/16):
$49,174
Location:
sq. ft. (approx.)
(approx.) sq. ft. (approx.)
PROPERTY DESCRIPTION
TAX MAP 878/42
Lexington Avenue
Third Avenue
East 23nd Street
East 22nd Street ASKING PRICE
$7,500,000
294 Third Avenue is a 24’ wide, 5-story plus basement, approximately 6,288 square foot mixed-use building in the vibrant Gramercy Park neighborhood. The walk-up building is located in between the luxury apartment residences at Instrata Gramercy (formerly known as Elektra) and just 30 feet south of the bustling southwest corner of Third Avenue and East 23rd Street. The property consists of six (6) residential apartments plus one (1) retail store. The entire building is subject to a NNN lease for $25,500 per year through July 14, 2020. The initial lease began in 1978 and was renewed for an additional 21 years back in 1999.The net lessee is responsible for all taxes, charges, operating costs and expenses and to keep and maintain the property in good working order and repair throughout the full term of the lease. The building benefits from it flexible zoning within the C2-8A (R10A equivalent) zoning district which permits 10.0 FAR as of right, allowing approximately 15,200 total buildable SF or roughly 8,900 square feet in unused air rights. 294 Third Avenue offers a unique opportunity to acquire a tremendous value-add investment property with exceptionally strong retail in close proximity to Gramercy Park, Madison Square Park, Stuyvesant Park and the Flatiron District.
FOR MORE INFORMATION, PLEASE CONTACT:
John F. Ciraulo
Craig M.Waggner
Vice Chairman Capital Markets (212) 660 7700 [email protected]
Director Capital Markets (212) 660 7744 [email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue 3rd Floor New York, NY 10016 nyinvestmentsales.com
