Four story commercial
loft building with a bar on the ground floor and 3 full floor commercial spaces
above. There is a full basement that is usable space as well. All of the leases
are short term and expire within the next year. The bar lease is set to expire
April 31, 2010. There is a full liquor license, and the possibility exists for
the seller to negotiate with the tenant and deliver the license intact.
Projected gross rents total $359,000 per year and projected NOI is $290,000. The
bar occupies less than half the space on the ground floor, and there is an
office space behind it.
The property could be vacated within a short
period since all of the tenants have short term leases.
It is located on
the same block as Bondi Road, Sushi Uo, San Marzano Brick Oven Pizzeria, and
Falai Bakery. The building is perfect for a user, can be kept in its present
commercial use, or can be converted to a Mixed-Use property.
Click here for listing details.
Neighborhoods: Lower East Side/ Agents: Michael DeCheser