Prime Hudson Sq. Retail/ Resi Condo for Sale Prime Hudson95 Sq. Retail/ Residential Vandam Street Condo for Sale Vandam Street New95 York, NY 10013 New York, NY 10013
As of: As 10/17/13 of 3.20.14 Location:
The North side of Vandam Street between Greenwich Street and Hudson
Block/Lot:
597/1001
Lot Size:
49' 5 1/2" x 100' 8 3/4" (Approx.)
Floor Size:
49' 5 1/2" x 94' (Approx.)
Gross SF:
Ground Floor: 4,400 (Approx.) Basement: 3,500 (Approx.)
Zoning:
M1-6
Assessment:
$ 463,500 (11/12)
Est. Taxes:
$ 46,987 (11/12)
Historic District: No Description:
This two floor retail commercial condominium has a vacant 4,400 SF GRFL with 16 FT ceilings and a 3500 SF occupied BSMT. Permitted uses include all Use Group 17 uses except no food, no adult entertainment and no public entertainment. In addition to the GRFL and BSMT commercial unit (comprising 19.7015% of the common interest) there are 10 residential units in the building. This ground floor retail/ residential property is ideally suited for use as a dwelling, or for an end user or investor looking for a property with lowmanagement and tremendous retail upside.
Projected Income: GRFL Approx. 4400 SF (projected @ $25,000/mo, currently VACANT) BSMT (Herbert Wolf) Approx. 3500 SF @ $8,625.21/mo Exp. Mo-Mo*
PPSF $68 $30
Annual Rent $300,000 $103,503
* Cancel on sale clause
Projected Gross Annual Revenue:
$403,503
Projected Annual Expenses: Real Estate Taxes Common Charges ($2,252.50/mo.) Projected Annual Expenses: 205 MontagueNet Street, 3rd FloorIncome: Projected Operating Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
Asking Price: $4,500,000
GRM: 11.2 Projected CAP rate: 7%
$53,001 $27,030 $80,031
275 Madison Avenue, 3rd Floor 118-35 Queens Boulevard, 14th Floor $323,472 New York, NY 10016 Forest Hills, NY 11375 T: 212-696-2500 / F: 212-696-0333 T: 718-275-3400 / F: 718-275-5478 For further information please contact:
Robert Burton Senior Vice President Tel. 212.696.2500 x7770
[email protected] Matthew Colantonio Associate 516.680.6832
[email protected] Stephanie Mitchell Associate 212.660.7724
[email protected] 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.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER