Retail store, Manhattan, New York

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Retail store, Manhattan, New York

$19,500,000
$4,336 /m²
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  • Total area
    4,497 m²
  • Yield
    5.1%
Details
Property parameters
  • 11-floor building
  • 1 floor
Financial performance
  • Annual income: $910,592
Tenants
  • Fully let

A street retail in Manhattan.

Description

A completely renovated street retail with modern double-glazed windows in 11-storey office building.

The object includes:

  • 1st floor (ceiling height 16 feet/ 4.9 meters)
  • mezzanine (ceiling height 16 feet/ 4.9 meters)
  • lower level (ceiling height 12 feet/ 3.7 meters)

Variants of sale:

  • with the existing tenant
  • free from rent

Financial performance

The cost of the property is 19,500,000 $.

The absolute annual income is 1, 000,350 $.

The current yield is 5,1%.

Tenants

A single tenant.

Location and nearby infrastructure

The property is located at the corner of one of the busiest streets in the center of Tribeca — the Lower Manhattan neighborhood. The district borders the Financial District, Chinatown, Battery Park City, Hudson Square, Civic Center and Soho.

Industrial-type buildings, which for the most part were built at the beginning of the 20th century, predominate in the architecture of the block. By the 80s Tribeca had become one of the most prestigious and expensive residential areas of the city with popular nightclubs and coffee shops. Today Tribeca is on the top list of areas with the most expensive rental housing. In the quarter live such celebrities as Mariah Carey, Robert De Niro, Keith Winslet and others.

The distance to:

  • John F. Kennedy Airport −35 minutes by taxi (without traffic jams)
  • airport La Guardia — 25 minutes by taxi (without traffic jams)
  • Wall Street/ Financial District −10 minutes by metro
  • Times Square — 18 minutes by metro

More properties

If this property wasn’t for you, take a look at other retail space for sale in Manhattan.

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