46 WEST 21ST STREET NEW YORK, NY
46 WEST 21ST STREET NEW YORK, NY Prime Flatiron Mixed Use Building
Asking Price: $10,950,000
FOR SALE
PROPERTY HIGHLIGHTS Location:
South side of West 21st Street between Fifth Avenue and Avenue of the Americas
Block / Lot:
822 / 66
Lot Size:
25’ x 92’
Footprint:
2,300 (Approx.)
Building Size:
Floor
Size
Width
Depth
Ground:
2,075
25’
83’
2nd:
2,075
25’
83’
3rd:
1,600
25’
64’
4th:
1,600
25’
64’
5th:
1,600
25’
64’
Total Gross Sq. Ft:
8,950 (Approx.)
Stories:
5 plus basement
Zoning:
C6-4A (R10A Equivalent)
Residential FAR:
10.0
Commercial FAR:
10.0
Community Facility FAR:
10.0
Total Buildable Sq. Ft.:
23,000 (Approx.)
Unused Air Rights:
14,050 (Approx.)
Landmark:
Ladies' Mile Historic District
Tax Class:
2B
Assessment (16/17):
$765,936
Taxes (16/17):
$98,676
PROPERTY DISCRIPTION
West 21th Street Fifth Avenue
Avenue of the Americas
TAX MAP
West 20th Street
Th e p ro p e r t y i s a 2 5 ’ w i d e, 5 - sto r y l o f t b u i l d i n g l o c a te d i n t h e h e a r t o f t h e F l at i ro n /C h e l s e a n e i g h b o r h o o d s . Wi t h a p p rox i m ate l y 8 , 95 0 s q u a re fe e t , t h e b u i l d i n g co n s i st s o f t wo re t a i l sto re s o n t h e g ro u n d f l o o r, a co m m e rc i a l o f f i ce u n i t a n d a p a r t m e n t o n t h e 2 n d f l o o r a n d f l o o r t h ro u g h a p a r t m e n t s o n t h e 3 rd t h ro u g h 5 t h f l o o r s . Th e b u i l d i n g h a s a p p rox i m ate l y 1 4 ,0 5 0 s q u a re fe e t o f u n u s e d a i r r i g h t s , h oweve r a ny f u t u re d eve l o p m e n t wo u l d b e s u b j e c t to l a n d m a r ks a p p rova l . Th e b u i l d i n g c a n b e d e l i ve re d va c a n t , m a k i n g i t i d e a l fo r a va l u e a d d i nve sto r w h o co u l d re n ovate t h e u n i t s to h i g h e r e n d l u xu r y a p a r t m e n t s o r a n e n d - u s e r fo r a m u l t i t u d e o f p o te n t i a l re s i d e n t i a l o r co m m e rc i a l u s e s .
FOR MORE INFORMATION, PLEASE CONTACT: John Ciraulo Vice Chairman (212) 660 7700 [email protected]
Brock Emmetsberger Executive Director (212) 660 7776 [email protected]
Craig Waggner Director 212 660 7744 [email protected]
Billy Simons Director (212) 660 7794 [email protected]
Cushman & Wakefield 275 Madison Avenue 3rd Floor New York, NY 10016 (212) 696 2500
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.
46 WEST 21ST STREET NEW YORK, NY Prime Flatiron Mixed Use Building PROJECTED FINANCIALS Size (RSF)
Projected Monthly Rent
Tenant
Store
VACANT
Retail
1,764
$
110
$
16,168
$
194,013
2
FM
Floor-Through
1,764
$
80
$
11,758
$
141,100
3
FM
Floor-Through
1,360
$
80
$
9,067
$
108,800
4
FM
Floor-Through
1,360
$
80
$
9,067
$
108,800
5
FM
Floor-Through
1,360
$
80
$
9,067
$
108,800
$
661,513
TOTAL EXPECTED REVENUE:
$/RSF
Projected Annual Rent
Unit
7,608
$
55,126
REVENUE
Projected
Gross Expected Monthly Income
$
Gross Expected Annual Income
$
661,513
$
(19,845)
$
641,667
(Based on 16/17 Assessment)
$
98,676
Water/Sewer
($0.35 Per SF)
$
3,133
Electric
($0.25 Per SF)
$
2,238
Insurance
($0.75 Per SF)
$
6,713
Less: Vacancy & Credit Loss
3%
EFFECTIVE GROSS ANNUAL INCOME
55,126
EXPENSES
Real Estate Taxes
Fuel (Gas)
($1.75 Per SF)
$
15,663
($500 Per Unit)
$
2,500
($500 per Month)
$
6,000
(3.0% of EGI)
$
19,250
Total
$
154,171
Effective Gross Annual Income
$
641,667
Less Expenses
$
(154,171)
Net Operating Income
$
487,496
Repairs & Maintenance Superintendent Management
Asking Price: $10,950,000 FOR MORE INFORMATION, PLEASE CONTACT: John Ciraulo Vice Chairman (212) 660 7700 [email protected]
Brock Emmetsberger Executive Director (212) 660 7776 [email protected]
Craig Waggner Director 212 660 7744 [email protected]
Billy Simons Director (212) 660 7794 [email protected]
Cushman & Wakefield 275 Madison Avenue 3rd Floor New York, NY 10016 (212) 696 2500
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.
Asking Price: $10,950,000
FOR SALE
PROPERTY HIGHLIGHTS Location:
South side of West 21st Street between Fifth Avenue and Avenue of the Americas
Block / Lot:
822 / 66
Lot Size:
25’ x 92’
Footprint:
2,300 (Approx.)
Building Size:
Floor
Size
Width
Depth
Ground:
2,075
25’
83’
2nd:
2,075
25’
83’
3rd:
1,600
25’
64’
4th:
1,600
25’
64’
5th:
1,600
25’
64’
Total Gross Sq. Ft:
8,950 (Approx.)
Stories:
5 plus basement
Zoning:
C6-4A (R10A Equivalent)
Residential FAR:
10.0
Commercial FAR:
10.0
Community Facility FAR:
10.0
Total Buildable Sq. Ft.:
23,000 (Approx.)
Unused Air Rights:
14,050 (Approx.)
Landmark:
Ladies' Mile Historic District
Tax Class:
2B
Assessment (16/17):
$765,936
Taxes (16/17):
$98,676
PROPERTY DISCRIPTION
West 21th Street Fifth Avenue
Avenue of the Americas
TAX MAP
West 20th Street
Th e p ro p e r t y i s a 2 5 ’ w i d e, 5 - sto r y l o f t b u i l d i n g l o c a te d i n t h e h e a r t o f t h e F l at i ro n /C h e l s e a n e i g h b o r h o o d s . Wi t h a p p rox i m ate l y 8 , 95 0 s q u a re fe e t , t h e b u i l d i n g co n s i st s o f t wo re t a i l sto re s o n t h e g ro u n d f l o o r, a co m m e rc i a l o f f i ce u n i t a n d a p a r t m e n t o n t h e 2 n d f l o o r a n d f l o o r t h ro u g h a p a r t m e n t s o n t h e 3 rd t h ro u g h 5 t h f l o o r s . Th e b u i l d i n g h a s a p p rox i m ate l y 1 4 ,0 5 0 s q u a re fe e t o f u n u s e d a i r r i g h t s , h oweve r a ny f u t u re d eve l o p m e n t wo u l d b e s u b j e c t to l a n d m a r ks a p p rova l . Th e b u i l d i n g c a n b e d e l i ve re d va c a n t , m a k i n g i t i d e a l fo r a va l u e a d d i nve sto r w h o co u l d re n ovate t h e u n i t s to h i g h e r e n d l u xu r y a p a r t m e n t s o r a n e n d - u s e r fo r a m u l t i t u d e o f p o te n t i a l re s i d e n t i a l o r co m m e rc i a l u s e s .
FOR MORE INFORMATION, PLEASE CONTACT: John Ciraulo Vice Chairman (212) 660 7700 [email protected]
Brock Emmetsberger Executive Director (212) 660 7776 [email protected]
Craig Waggner Director 212 660 7744 [email protected]
Billy Simons Director (212) 660 7794 [email protected]
Cushman & Wakefield 275 Madison Avenue 3rd Floor New York, NY 10016 (212) 696 2500
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.
46 WEST 21ST STREET NEW YORK, NY Prime Flatiron Mixed Use Building PROJECTED FINANCIALS Size (RSF)
Projected Monthly Rent
Tenant
Store
VACANT
Retail
1,764
$
110
$
16,168
$
194,013
2
FM
Floor-Through
1,764
$
80
$
11,758
$
141,100
3
FM
Floor-Through
1,360
$
80
$
9,067
$
108,800
4
FM
Floor-Through
1,360
$
80
$
9,067
$
108,800
5
FM
Floor-Through
1,360
$
80
$
9,067
$
108,800
$
661,513
TOTAL EXPECTED REVENUE:
$/RSF
Projected Annual Rent
Unit
7,608
$
55,126
REVENUE
Projected
Gross Expected Monthly Income
$
Gross Expected Annual Income
$
661,513
$
(19,845)
$
641,667
(Based on 16/17 Assessment)
$
98,676
Water/Sewer
($0.35 Per SF)
$
3,133
Electric
($0.25 Per SF)
$
2,238
Insurance
($0.75 Per SF)
$
6,713
Less: Vacancy & Credit Loss
3%
EFFECTIVE GROSS ANNUAL INCOME
55,126
EXPENSES
Real Estate Taxes
Fuel (Gas)
($1.75 Per SF)
$
15,663
($500 Per Unit)
$
2,500
($500 per Month)
$
6,000
(3.0% of EGI)
$
19,250
Total
$
154,171
Effective Gross Annual Income
$
641,667
Less Expenses
$
(154,171)
Net Operating Income
$
487,496
Repairs & Maintenance Superintendent Management
Asking Price: $10,950,000 FOR MORE INFORMATION, PLEASE CONTACT: John Ciraulo Vice Chairman (212) 660 7700 [email protected]
Brock Emmetsberger Executive Director (212) 660 7776 [email protected]
Craig Waggner Director 212 660 7744 [email protected]
Billy Simons Director (212) 660 7794 [email protected]
Cushman & Wakefield 275 Madison Avenue 3rd Floor New York, NY 10016 (212) 696 2500
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.
