Available
For Sale
  • Apartment Buildings , Live Plus Income Buildings , Mixed-Use Investment Buildings
  • 116 Suffolk Street, New York, NY 10002

    116 Suffolk Street, New York, New York, 10002, New York, NY 10002 United States
    Available
    For Sale
  • Apartment Buildings , Live Plus Income Buildings , Mixed-Use Investment Buildings
  • 116 Suffolk Street, New York, NY 10002

    116 Suffolk Street, New York, New York, 10002, New York, NY 10002 United States
    Lot Size
    2,500 SF / .06 Acres
    Built
    1910
    Lot Size
    2,500 SF / .06 Acres
    Built
    1910

    OVERVIEW

    Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of 116 Suffolk St, in the Lower East Side of NY. The property is a 9,150SF, 9 unit mixed-use building located on the E side of Suffolk between Rivington and Delancey. The building consists of eight large apartments over 1 store. The retail space enjoys soaring ceiling height (16’) and is occupied by specialty bookstore. Of the 8 residential units, two are deregulated, three are renovated Rent Stabilized units with “first rents”, one Rent Stabilized unit, and two Rent Controlled tenants. The store has a lease until 2030, with 3% annual increases and 25% of tax increases over base year 20/21 (base taxes are $20,782.28). The heat is electric and is separately metered. Hot water (oil fired) and is supplied by the landlord. The building is in the 2B protected tax class. Taxes are only $26,240. The building is across the street from The Clemente, which is a restored art and performance space (www.theclementecenter.org), and 1 ½ blocks from Essex Crossing Development on Delancey. Approximately 850SF of air rights are intact.

    Details

    Building Size:
    SF
    Sale Price:
    $6,250,000 USD
    Lot Size:
    2,500 SF / .06 Acres
    Year Built:
    1910

    AVAILABILITIES

    LOCATION

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