- Manhattan Shop $19,500,000
- Basic parameters
- Photo
№ 1,764,455
Retail store, Manhattan, New York
$19,500,000
$4,336 /m²
- Total area 4,497 m²
- Yield 5.1%
- Lease term —
- Constructed —
Key project parameters
- Total area
- 4,497 m²
- Floors
- 11
- Floor
- 1
Project description
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
Tenants
- Agreement
- n/a
A single tenant.
Financial performance
- Yield
- 5.1%
The cost of the property is 19,500,000 $.
The absolute annual income is 1, 000,350 $.
The current yield is 5,1%.
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
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- annual yield
- From 10%
- exit period
- 3 years
How we help investors
Analysing the needs
We use a methodology that enables us to formulate requests and find good deals in the market
Developing a strategy
We analyse all inputs and, with the help of local consultants, propose the optimal form of ownership, tax solutions, and exit strategy for the investment
Providing transaction support
We support the investor from the moment of project selection to the closing of the deal. We offer assistance at every stage, including helping to open a bank account
Helping with management
We can take over the management of your property or recommend a suitable management company
Organising property viewings
We will arrange a visit to the site to view one or more projects
Saving time
At the investor's request, we can arrange a remote purchase with the least possible visits to the country
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Mikhail Reyderman
Commercial Real Estate Expert
Commercial Real Estate Expert
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