11 ESSEX ST.

$12,500,000

Price [Calculator]

Development

Beds

Baths

ID #: 3404
Property Type: Development
Availability: NOW!
Pet Policy: Unknown


Building & Unit Features


8-Story Mixed-Use Building - Delivered Vacant

Build an 8-story mixed-use elevator building with a 1,600 SF gallery or restaurant space on the ground floor, and 26 residential units above. The building requires a complete gut renovation and is delivered vacant. Originally built as a 6-story building configured with 22 residential apartments (one bedrooms-approx 400 SF) and 2 commercial stores with a gross square footage of 10,800 SF. Potential to develop a million dollar rent roll: $125 psf for retail, $92 psf for apartment rentals; resell for 22 times rent roll after completion, for a $22 million dollar sale. The building can be utilized as a rental building, hotel or single family home. Located in the heart of the Lower East Side, across from Seward Park, this property is an incredible development opportunity.


Please email yesim@misrahirealty.com for a complete set-up. Price negotiable.

Listing Agent





Map


Nearby Subways

  • F ~0.05 mi. to Essex St & Canal St
  • F J M Z ~0.24 mi. to Essex St & Delancey St
  • B D ~0.27 mi. to Chrystie St & Grand St
  • J Z ~0.38 mi. to Bowery & Delancey St
  • 4 6 J Z N Q R ~0.56 mi. to 240 Canal Street