Manhattan Lower East side/Off Chinatown prime location! Original owner for 40 years! Very well maintained 5 story building 8 Family plus storefront walk up with Storefront 1,700 sq. ft on short term lease (may be able to be delivered vacant plus additional 1,000 finished basement with it separate front entrances & back exit, 1/2 bath & high 10 ft ceiling, new ceramic floors, Heat & more! 22 ft wide building by 69 sq ft deep!! Large private enclosed backyard! Fire escape! Building approx. 10,779 total sq ft not including basement! Property on a 21.92 ft x 102.08 ft lot size! Possible 2 vacancy above store! Owner recently finished & renovated entire basement, Electric, Gas boiler & new Hot water system, Intercom system, stairs & much more!!! Air rights of 1,834 still available with potential to extend property and maximize usage. CAP rate with projected upside potential! Low Real Estate taxes $ 14,127 annually! 1st floor storefront with extension & basement retail delivered vacant! ALL tenant pays on time! Buy today before prices skyrockets! Property is located in the section of the Lower East Side currently converting to a new wave of businesses consisting in restaurants, bars, cafes and retail. The building is just 3 blocks away from Houston Street featuring Essex common, the best dive bars, old school music venues, posh cocktail lounges and hip restaurants the city has to offer. The Lower East Side was once considered a grungy neighborhood, but over the past couple of decades increasing numbers of NYU students and newcomers to the city have settled there, bringing with them a more mainstream vibe. Near trains, buses & much more!
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