East 19th Street, NY, NY, Broadway, Gramercy Park for sale $9,200,000

East 19th Street, NY, NY, Broadway, Gramercy Park for sale

11,500 sf, Commercial Building for sale. A 25f wide, 6 story plus basement, 6 unit, approximately 11,500 square foot commercial building with an elevator. The building has a newly renovated lobby with a fully automated elevator servicing all 6 floors and the basement. There are hardwood floors and new new double-pane windows throughout the premise. Recently renovated with a residential sixth floor penthouse currently being added and would need to be completed. The building consists of a vacant night club on the ground floor and basement, four loft-type commercial floors with one being delivered vacant, and the sixth floor currently under construction into a residential penthouse.

All pre purchased construction supplies will be itemized and are included in the sale of the property. The subject property is located on the north side of East 19th Street between Fifth Avenue and Broadway. The building is zoned M1-5 with an FAR of 5.0 allowing a total buildable square footage of approximately 11,500; all air rights have been used. All units have great light and 12f ceilings, with the exception of the ground floor floor which has 13f ceilings. Actual/Projected Revenue: $770,000 (Appx.), Projected Net Operating Income: $656,000 (Appx.). Given that the 4th and 6th floors along with the prime retail space will be delivered vacant the building poses an excellent opportunity for a user or investor.