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 [email protected]
for a complete set-up. Price negotiable.