11 ESSEX ST.

$12,500,000

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Development

Beds

Baths

ID #: 3404
Property Type: Development
Availability: NOW!


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






Nearby Subways

  • F Essex St & Canal St (~0.05 mile)
  • F J M Z Essex St & Delancey St (~0.24 mile)
  • B D Chrystie St & Grand St (~0.27 mile)
  • J Z Bowery & Delancey St (~0.38 mile)

Learn More About The Area