41 henry street - Agorafy
41 HENRY STREET NEW YORK, NY Lower East Side Mixed-Use Building
FOR SALE PROPERTY DESCRIPTION A 6-story, mixed-use, walk-up building located on the north side of Henry Street between Catherine and Market Streets. The building consists of 19 residential units and a vacant step down commercial unit. Of the 19 residential units, 9 are FM, 9 are RS, and 1 is RC. The average in-place rent is approximately $40/SF which is well below market. It is within close proximity to the Seward Park Urban Renewal Area which will drive foot traffic and long term value growth in the neighborhood. This building is a prime, value-add opportunity in one of New York City’s fastest growing neighborhoods. BUILDING FEATURES
ASKING PRICE
$6,750,000
BLOCK / LOT
280 / 10
LOT SIZE (APPROX.)
27.42’ x 100’
LOT SF (APPROX.)
2,742
BUILDING SIZE (APPROX.)
27.42’ x 90’
BUILDING SF (APPROX.)
11,260
STORIES
6
COMMERCIAL UNITS
1
RESIDENTIAL UNITS
19
ZONING
R7-2 / C6-1G
FAR
6.00 / 3.44
AIR RIGHTS
None
HISTORIC DISTRICT
None
RE TAX ASSESSMENT
$515,250 (15/16)
RE TAXES
$66,235 (15/16)
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Partner (212) 696 2500 x7710 [email protected]
Michael DeCheser Executive Director (212) 696 2500 x7772 [email protected]
Mitchell Levine Associate Director (212) 660 7761 [email protected]
Mei Ling Wong Associate Director (212) 660 7716 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
41 HENRY STREET NEW YORK, NY Lower East Side Mixed-Use Building
FOR SALE
RETAIL REVENUE FLOOR 1st
Floor
UNIT
TENANT
LEASE EXP.
Step Down
TBD
Vacant
MONTHLY RENT
ANNUAL RENT
$2,000
$24,000
$2,000
$24,000
RESIDENTIAL REVENUE FLOOR
UNIT
STATUS
TYPE
LEASE EXP.
2nd Floor 2nd Floor
MONTHLY RENT
ANNUAL RENT
1
RS
2 BR
May-16
$599
$7,190
2
FM
2 BR
Sep-15
$2,700
$32,400
2nd Floor
3
RS
2 BR
Nov-15
$471
$5,656
3rd Floor
4
FM
2 BR
Sep-15
$2,550
$30,600
3rd Floor
5
RS
2 BR
Dec-15
$490
$5,876
3rd Floor
6
FM
2 BR
Oct-15
$2,700
$32,400
3rd Floor
7
FM
2 BR
Sep-15
$2,650
$31,800
4th Floor
8
RS
2 BR
May-16
$569
$6,830
4th Floor
10
RS
2 BR
Apr-17
$725
$8,700
4th Floor
11
RS
2 BR
Feb-17
$434
$5,214
4th Floor
12
RS
2 BR
May-16
$860
$10,321
5th Floor
13
RC
2 BR
N/A
$277
$3,327
5th Floor
14
FM
2 BR
Aug-15
$2,650
$31,800
5th Floor
15
RS
2 BR
Jan-16
$703
$8,440
5th Floor
16
RS
2 BR
Jan-16
$582
$6,984
6th Floor
17
FM
2 BR
Nov-15
$2,700
$32,400
6th Floor
18
FM
2 BR
Nov-15
$2,700
$32,400
6th Floor
19
FM
2 BR
Nov-15
$2,600
$31,200
6th Floor
20
FM
2 BR
Oct-15
$2,600
$31,200
$29,561
$354,738
EXPENSES (ACTUAL / PROJECTED)
AMOUNT
Real Estate Taxes (15/16)
$66,235
Common Area Electric (Projected @ $.25/SF)
$5,430
Insurance (Projected @ $1.00/SF)
$10,860
Water & Sewer (Projected @ $.75/SF)
$8,145
Heating (Projected @ $1.50/SF)
$16,290
Repairs & Maintenance (Projected @ $450/Unit)
$9,000
Super (Projected @ $500/Month)
$6,000
Management (Projected @ 2.50% of Gross Income)
$9,468 $131,428
Total Gross Annual Income:
$378,738
Less Expenses:
$131,428
Net Operating Income:
$247,309
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Partner (212) 696 2500 x7710 [email protected]
Michael DeCheser Executive Director (212) 696 2500 x7772 [email protected]
Mitchell Levine Associate Director (212) 660 7761 [email protected]
Mei Ling Wong Associate Director (212) 660 7716 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
FOR SALE PROPERTY DESCRIPTION A 6-story, mixed-use, walk-up building located on the north side of Henry Street between Catherine and Market Streets. The building consists of 19 residential units and a vacant step down commercial unit. Of the 19 residential units, 9 are FM, 9 are RS, and 1 is RC. The average in-place rent is approximately $40/SF which is well below market. It is within close proximity to the Seward Park Urban Renewal Area which will drive foot traffic and long term value growth in the neighborhood. This building is a prime, value-add opportunity in one of New York City’s fastest growing neighborhoods. BUILDING FEATURES
ASKING PRICE
$6,750,000
BLOCK / LOT
280 / 10
LOT SIZE (APPROX.)
27.42’ x 100’
LOT SF (APPROX.)
2,742
BUILDING SIZE (APPROX.)
27.42’ x 90’
BUILDING SF (APPROX.)
11,260
STORIES
6
COMMERCIAL UNITS
1
RESIDENTIAL UNITS
19
ZONING
R7-2 / C6-1G
FAR
6.00 / 3.44
AIR RIGHTS
None
HISTORIC DISTRICT
None
RE TAX ASSESSMENT
$515,250 (15/16)
RE TAXES
$66,235 (15/16)
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Partner (212) 696 2500 x7710 [email protected]
Michael DeCheser Executive Director (212) 696 2500 x7772 [email protected]
Mitchell Levine Associate Director (212) 660 7761 [email protected]
Mei Ling Wong Associate Director (212) 660 7716 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
41 HENRY STREET NEW YORK, NY Lower East Side Mixed-Use Building
FOR SALE
RETAIL REVENUE FLOOR 1st
Floor
UNIT
TENANT
LEASE EXP.
Step Down
TBD
Vacant
MONTHLY RENT
ANNUAL RENT
$2,000
$24,000
$2,000
$24,000
RESIDENTIAL REVENUE FLOOR
UNIT
STATUS
TYPE
LEASE EXP.
2nd Floor 2nd Floor
MONTHLY RENT
ANNUAL RENT
1
RS
2 BR
May-16
$599
$7,190
2
FM
2 BR
Sep-15
$2,700
$32,400
2nd Floor
3
RS
2 BR
Nov-15
$471
$5,656
3rd Floor
4
FM
2 BR
Sep-15
$2,550
$30,600
3rd Floor
5
RS
2 BR
Dec-15
$490
$5,876
3rd Floor
6
FM
2 BR
Oct-15
$2,700
$32,400
3rd Floor
7
FM
2 BR
Sep-15
$2,650
$31,800
4th Floor
8
RS
2 BR
May-16
$569
$6,830
4th Floor
10
RS
2 BR
Apr-17
$725
$8,700
4th Floor
11
RS
2 BR
Feb-17
$434
$5,214
4th Floor
12
RS
2 BR
May-16
$860
$10,321
5th Floor
13
RC
2 BR
N/A
$277
$3,327
5th Floor
14
FM
2 BR
Aug-15
$2,650
$31,800
5th Floor
15
RS
2 BR
Jan-16
$703
$8,440
5th Floor
16
RS
2 BR
Jan-16
$582
$6,984
6th Floor
17
FM
2 BR
Nov-15
$2,700
$32,400
6th Floor
18
FM
2 BR
Nov-15
$2,700
$32,400
6th Floor
19
FM
2 BR
Nov-15
$2,600
$31,200
6th Floor
20
FM
2 BR
Oct-15
$2,600
$31,200
$29,561
$354,738
EXPENSES (ACTUAL / PROJECTED)
AMOUNT
Real Estate Taxes (15/16)
$66,235
Common Area Electric (Projected @ $.25/SF)
$5,430
Insurance (Projected @ $1.00/SF)
$10,860
Water & Sewer (Projected @ $.75/SF)
$8,145
Heating (Projected @ $1.50/SF)
$16,290
Repairs & Maintenance (Projected @ $450/Unit)
$9,000
Super (Projected @ $500/Month)
$6,000
Management (Projected @ 2.50% of Gross Income)
$9,468 $131,428
Total Gross Annual Income:
$378,738
Less Expenses:
$131,428
Net Operating Income:
$247,309
FOR MORE INFORMATION, PLEASE CONTACT: James Nelson Partner (212) 696 2500 x7710 [email protected]
Michael DeCheser Executive Director (212) 696 2500 x7772 [email protected]
Mitchell Levine Associate Director (212) 660 7761 [email protected]
Mei Ling Wong Associate Director (212) 660 7716 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 www.nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
