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FOR SALE
Prime Corner Avenue Building w/ Retail
Asking Price: $8,750,000
FOR MORE INFORMATION, PLEASE CONTACT:
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
816 Avenue of the AmericAs
Cushman & Wakefield1290 Avenue of the AmericasNew York, NY 10016phone: +1 212 696 2500nyinvestmentsales.com
PROPERTY HIGHLIGHTS
John F. CirauloVice Chairman212 660 [email protected]
Craig M. WaggnerSenior Director212 660 [email protected]
A ~25’ wide, 4-story plus basement, approximately 4,934 square foot mixed-use building with two retail units on the ground floor, commercial space on the second and a residential duplex above. The property’s superb corner location on a bustling retail corridor, its visibility, tenancy, supplemental antenna income and unused air rights make it ideal for a user/investor looking for future upside.
PROPERTY DESCRIPTION
Louis MagarelliAssociate(212) 307 [email protected]
LocationLocated on the northeast corner ofAvenue of the Americas and West 28th Street.
Block / Lot 830 / 1
Lot Size 24.67' X 40'
Building Size 24.67' X 40'
Stories 4
Gross Square Footage 4,934 (approx.)
Zoning / FAR C6-4X (R10X Residential) 10.00
Lot Size 987 sq. ft. (approx.)
Total Buildable Sq. Ft. 9,870 sq. ft. (approx.)
Minus Existing Structure 4,934 sq. ft. (approx.)
Air Rights 4,936 sq. ft. (approx.)
Assessment (18/19) $762,120
Taxes (18/19) $80,129
FOR MORE INFORMATION, PLEASE CONTACT:
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
816 Avenue of the AmericAsPrime Corner Avenue Building w/ Retail
Broadw
ay
West 29th Street
Avenue o
f the A
mericas
West 28th Street
BLOCK830
ESTIMATED EXPENSES
Real Estate Taxes (Actual) 16.0% $ 80,129
Water/Sewer 0.7% $ 3,701
Insurance 1.0% $ 4,934
Fuel 1.6% $ 7,894
Electric 0.2% $ 1,234
Payroll - Super 0.5% $ 2,400
Repairs & Maintenance 0.7% $ 3,300
Management 3.0% $ 15,003
Total 23.7% $ 118,595
FINANCIAL OVERVIEW
Gross Annual Income $ 500,115
Less Expenses $ 118,595
Net Operating Income $ 381,520
PROJECTED REVENUE LEASE EXP. SF $PSF Monthly ANNUAL
Bill's Flowers Vacant 687 $250 $ 14,313 $ 171,750
Vivian Costume Jewlery 9/14/2021 300 $211 $ 5,283 $ 63,396
2nd Floor Commercial Space Month to Month 987 $85 $ 6,991 $ 83,895
Residential Duplex Month to Month 1,974 $65 $ 10,693 $ 128,310
Cell Antennas 5/1/2030 $ 4,397 $ 52,764
Projected Gross Monthly Income $ 41,676
Projected Gross Annual Income $ 500,115
Cushman & Wakefield1290 Avenue of the AmericasNew York, NY 10016phone: +1 212 696 2500nyinvestmentsales.com
John F. CirauloVice Chairman212 660 [email protected]
Craig M. WaggnerSenior Director212 660 [email protected]
Louis MagarelliAssociate(212) 307 [email protected]
WE
ST
29
TH S
T
M A D I S O NS Q U A R E
P A R K
B R O A D W AY
F I F T H AV E
F L A T I R O NB U I L D I N G
816 Ave of the
AmericAs
Asking Price: $8,750,000
