Presentation title - Massey Knakal
460 Broome Street, New York, NY 5-STORY CAST IRON BUILDING Offers Due: Friday August 5th At 12:00pm FOR SALE
Asking Price: $21,000,000 Property Highlights 460 Broome is a rare opportunity for a value add investor or user looking to acquire an 11,000 square foot loft building on a prime block in the SoHo – Cast Iron Historic District. The property is presently leased by Sunbury Textiles Mills NYC, but can be delivered vacant. The five story elevator building includes a clean and dry sub level that is being used for textile presentation and storage. The building benefits from 10’ ceilings in the basement, 15’ on the ground floor, and 12’ on the upper levels. Each floor is sub-metered with its own HVAC controls making it ideal for boutique office and/or multi-floor retail conversion. The building also has steel beams already in place for a new roof deck addition. There is tremendous retail potential for the property. Neighboring tenants include, Patagonia, UGG and Kate Spade. Retail rents have steadily increased in SoHo for the past few years commanding $225/SF and above on Broome Street between Mercer and Greene Streets. Comparable rental rates for SoHo office product are currently $64 per square foot annually and have seen rapid growth in recent years due to the low vacancy of Midtown South office space. Building Features Block / Lot
485 / 37
Lot Dimensions
25’ x 100’
Lot SF
2,500
Gross SF (Above Grade)
11,000
Zoning
M1-5A
FAR
5.0
Buildable SF
12,500
Historic
SoHo Cast Iron District
Assessment (16/17)
$1,805,240
Taxes (16/17)
$192,366
For More Information, Please Contact: James Nelson Vice Chairman (212) 660 7710 [email protected]
Robert Burton Executive Director (212) 660 7770 [email protected]
Caroline Hannigan Director (212) 660 7708 [email protected]
Keegan Mehlhorn Associate (212) 660 7718 [email protected]
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, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental 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. of theorproperty (or properties) in question.
Asking Price: $21,000,000 Property Highlights 460 Broome is a rare opportunity for a value add investor or user looking to acquire an 11,000 square foot loft building on a prime block in the SoHo – Cast Iron Historic District. The property is presently leased by Sunbury Textiles Mills NYC, but can be delivered vacant. The five story elevator building includes a clean and dry sub level that is being used for textile presentation and storage. The building benefits from 10’ ceilings in the basement, 15’ on the ground floor, and 12’ on the upper levels. Each floor is sub-metered with its own HVAC controls making it ideal for boutique office and/or multi-floor retail conversion. The building also has steel beams already in place for a new roof deck addition. There is tremendous retail potential for the property. Neighboring tenants include, Patagonia, UGG and Kate Spade. Retail rents have steadily increased in SoHo for the past few years commanding $225/SF and above on Broome Street between Mercer and Greene Streets. Comparable rental rates for SoHo office product are currently $64 per square foot annually and have seen rapid growth in recent years due to the low vacancy of Midtown South office space. Building Features Block / Lot
485 / 37
Lot Dimensions
25’ x 100’
Lot SF
2,500
Gross SF (Above Grade)
11,000
Zoning
M1-5A
FAR
5.0
Buildable SF
12,500
Historic
SoHo Cast Iron District
Assessment (16/17)
$1,805,240
Taxes (16/17)
$192,366
For More Information, Please Contact: James Nelson Vice Chairman (212) 660 7710 [email protected]
Robert Burton Executive Director (212) 660 7770 [email protected]
Caroline Hannigan Director (212) 660 7708 [email protected]
Keegan Mehlhorn Associate (212) 660 7718 [email protected]
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, Cushman & wakefield copyright 2015. or Noother warranty or representation, express or implied, made thespecial accuracy or completeness of the information containedowner(s). herein, andAs same is submitted to errors, omissions,as change price, omissions, change of price, rental conditions, withdrawal without notice,isand to to any listing conditions imposed by the property applicable, we subject make no representation to theofcondition rental 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. of theorproperty (or properties) in question.
