Iconic SoHo Building For Sale - Agorafy
As of 9.17.14
Iconic SoHo Building For Sale 499 Broome Street Aka 361-363 West Broadway The famous Kenn’s Broome Street Bar is the ground floor tenant with a lease expiring in January 2015. The second and third floor of the building can be configured as a three room triplex. There is currently an office lease for the 2nd Floor two-room portion, and the 3rd Floor portion of the triplex is owner-occupied. The third floor also has a one bedroom unit with tall ceilings, and the fourth floor is a one bedroom loft with two skylights. This 3.5 story building has a peaked roof and enjoys northern views of the Empire State Building along with magnificent southward views of the new Freedom Tower. The entire building can be delivered vacant by November 2015. Located near the entrance of the Holland Tunnel, this building can become a flagship commercial building, a high-end rental property, or with proper approvals, an extraordinary single family home with ground floor retail. Location:
Southeast corner of West Broadway and Broome 475 / 12
Lot Area:
1,350 SF (Approx)
Building Gross SF:
4,350 SF (Approx)
Total Buildable SF:
6,745 SF (Approx)
Zoning:
M1-5A
Historic District:
SoHo Cast Iron
Stories:
3.5 + BSMT
Assessment:
$ 1,021,860
R.E Taxes:
$ 105,487
Projected Annual Income:
$ 814,590
Projected Annual Expenses:
$ 150,551
Projected NOI:
$ 664,039
BROOME
ASKING PRICE: $13,500,000 Price / SF: $3,103
W BROADWAY
Block & Lots:
Projected Cap: 4.92%
For further information or inspection, please contact Exclusive Agents: Robert Burton Senior Vice President [email protected] 212-696-2500 x 7770
Stephanie Mitchell Matthew Colantonio Associate Associate [email protected] [email protected] 212-696-2500 x 7724 212-696-2500 x 7718
GRAND
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
Iconic SoHo Building For Sale 499 Broome Street Aka 361-363 West Broadway The famous Kenn’s Broome Street Bar is the ground floor tenant with a lease expiring in January 2015. The second and third floor of the building can be configured as a three room triplex. There is currently an office lease for the 2nd Floor two-room portion, and the 3rd Floor portion of the triplex is owner-occupied. The third floor also has a one bedroom unit with tall ceilings, and the fourth floor is a one bedroom loft with two skylights. This 3.5 story building has a peaked roof and enjoys northern views of the Empire State Building along with magnificent southward views of the new Freedom Tower. The entire building can be delivered vacant by November 2015. Located near the entrance of the Holland Tunnel, this building can become a flagship commercial building, a high-end rental property, or with proper approvals, an extraordinary single family home with ground floor retail. Location:
Southeast corner of West Broadway and Broome 475 / 12
Lot Area:
1,350 SF (Approx)
Building Gross SF:
4,350 SF (Approx)
Total Buildable SF:
6,745 SF (Approx)
Zoning:
M1-5A
Historic District:
SoHo Cast Iron
Stories:
3.5 + BSMT
Assessment:
$ 1,021,860
R.E Taxes:
$ 105,487
Projected Annual Income:
$ 814,590
Projected Annual Expenses:
$ 150,551
Projected NOI:
$ 664,039
BROOME
ASKING PRICE: $13,500,000 Price / SF: $3,103
W BROADWAY
Block & Lots:
Projected Cap: 4.92%
For further information or inspection, please contact Exclusive Agents: Robert Burton Senior Vice President [email protected] 212-696-2500 x 7770
Stephanie Mitchell Matthew Colantonio Associate Associate [email protected] [email protected] 212-696-2500 x 7724 212-696-2500 x 7718
GRAND
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
