48 Allen Street AKA 49 Orchard Street - Agorafy
48 Allen Street AKA 49 Orchard Street
BLOCK-THROUGH COMMERCIAL BUILDING CHINATOWN / LOWER EAST SIDE
FOR SALE
USER / CONVERSION OPPORTUNITY
$12,500,000 275 Madison Avenue Third Floor New York, NY 10016 212.696.2500 www.masseyknakal.com
48 Allen Street AKA 49 Orchard Street
Property Description:
Location: Block through from Allen Street to Orchard Street, between Grand and Hester Streets. Block & Lot: 308 / 23 Lot Size: 25.25’ x 88.83’ Approx. Approx. SF Lot Area: 2,240 Dimensions Gross SF Terrace SF Approx. SF Basement: 25.25’ x 88’ 2,200 Approx. SF Ground Floor: 25.25’ x 88’ 2,200 Approx. SF 2nd Floor: 25.25’ x 83.6’ 2,110 120 Approx. SF 3rd Floor: 25.25’ x 83.6’ 2,110 120 Approx. SF 4th Floor: 25.25’ x 83.6’ 2,110 Approx. SF 5th Floor: 25.25’ x 83.6’ 2,110 Approx. SF 6th Floor: 25.25’ x 83.6’ 2,110 Approx. SF Penthouse: 20.1’ x 25.3’ 384 Approx. SF Above Grade: 13,134 240 Approx. SF W/ Usable Bsmnt: 15,334 Zoning : C6-2 Comm. Commercial Residential Facility FAR: 6.00 6.02 6.50 Approx. SF Total Buildable SF: 13,440 13,485 14,560 Approx. SF Remaining Air Rights: 306 351 1,426 Assessment (14/15): $800,550 Approx. Taxes (14/15): $85,531 Approx.
Delivered vacant, the subject property is a 7-story elevatored block-through building with frontage on Allen and Orchard Streets. 48 Allen Street AKA 49 Orchard Street is a renovated commercial building and is currently owned and fully occupied by Chinese Christian Herald Crusades. The building consists of approximately 15,334 gross square feet which includes a 2,200 gross square foot finished lower level that contains offices and restrooms. Floors 1 through 6 consist of offices, an assembly area, a library, reading room, living quarters, dining rooms, restrooms, and living rooms. The living quarters on the upper floors serve as guest rooms for visiting members and provide lodging for up to 50 people. Considering the building will be delivered vacant, 48 Allen Street is ideal for an end user interested in occupying all or a portion of the building. Furthermore, the property is located in a C6-2 zone, commercial use such as a hotel would be permitted and therefore the buyer could convert the existing building into a hotel. Alternatively, the building could be converted into residential use such as rental or condominium units.
Asking Price: $12,500,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
MICHAEL F. DECHESER Vice President of Sales (212) 660-7772 [email protected]
DARRAGH CLARKE Associate Director of Sales (212) 660-7737 [email protected]
MEI LING WONG Senior Associate (212) 660-7716 [email protected]
BLOCK-THROUGH COMMERCIAL BUILDING CHINATOWN / LOWER EAST SIDE
FOR SALE
USER / CONVERSION OPPORTUNITY
$12,500,000 275 Madison Avenue Third Floor New York, NY 10016 212.696.2500 www.masseyknakal.com
48 Allen Street AKA 49 Orchard Street
Property Description:
Location: Block through from Allen Street to Orchard Street, between Grand and Hester Streets. Block & Lot: 308 / 23 Lot Size: 25.25’ x 88.83’ Approx. Approx. SF Lot Area: 2,240 Dimensions Gross SF Terrace SF Approx. SF Basement: 25.25’ x 88’ 2,200 Approx. SF Ground Floor: 25.25’ x 88’ 2,200 Approx. SF 2nd Floor: 25.25’ x 83.6’ 2,110 120 Approx. SF 3rd Floor: 25.25’ x 83.6’ 2,110 120 Approx. SF 4th Floor: 25.25’ x 83.6’ 2,110 Approx. SF 5th Floor: 25.25’ x 83.6’ 2,110 Approx. SF 6th Floor: 25.25’ x 83.6’ 2,110 Approx. SF Penthouse: 20.1’ x 25.3’ 384 Approx. SF Above Grade: 13,134 240 Approx. SF W/ Usable Bsmnt: 15,334 Zoning : C6-2 Comm. Commercial Residential Facility FAR: 6.00 6.02 6.50 Approx. SF Total Buildable SF: 13,440 13,485 14,560 Approx. SF Remaining Air Rights: 306 351 1,426 Assessment (14/15): $800,550 Approx. Taxes (14/15): $85,531 Approx.
Delivered vacant, the subject property is a 7-story elevatored block-through building with frontage on Allen and Orchard Streets. 48 Allen Street AKA 49 Orchard Street is a renovated commercial building and is currently owned and fully occupied by Chinese Christian Herald Crusades. The building consists of approximately 15,334 gross square feet which includes a 2,200 gross square foot finished lower level that contains offices and restrooms. Floors 1 through 6 consist of offices, an assembly area, a library, reading room, living quarters, dining rooms, restrooms, and living rooms. The living quarters on the upper floors serve as guest rooms for visiting members and provide lodging for up to 50 people. Considering the building will be delivered vacant, 48 Allen Street is ideal for an end user interested in occupying all or a portion of the building. Furthermore, the property is located in a C6-2 zone, commercial use such as a hotel would be permitted and therefore the buyer could convert the existing building into a hotel. Alternatively, the building could be converted into residential use such as rental or condominium units.
Asking Price: $12,500,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
MICHAEL F. DECHESER Vice President of Sales (212) 660-7772 [email protected]
DARRAGH CLARKE Associate Director of Sales (212) 660-7737 [email protected]
MEI LING WONG Senior Associate (212) 660-7716 [email protected]
