Rare Opportunity to Take Over a Below Market Rate 1BR Apartment Lease from Existing Tenants in the New York by Gehry Building @ 8 Spruce Street (# 25C) About the Opportunity: There is no catch here - just a great deal to be had for the qualified renter who moves quickly to take advantage of this attractive opportunity to take over an existing lease at below market rate in the highly sought after New York by Gehry building. Current tenants have rented since 2014 and are grandfathered into a now well-below market rate lease on one of the most desirable 1BR lines in the building. The existing lease expires on August 6, 2022. Tenants are moving out of the building on May 30th and are offering an exclusive opportunity for prospective sub-lessee to assume their existing lease as early as June 1, with an option to resign a 1 or 2 year lease at a grandfathered rate that is ~$600 per month less than current market rates. Current rent is $4,300/month until existing lease expires on August 6, 2022. Sub-lessee will be provided with an option to re-lease for 1 Year at $4,303/month or 2 Years at $4,345/month. Comparable "C-line" unit availabilities on lower floors are currently being listed for ~$4,765/month. Current tenants have already received approval from the building's leasing office to sub-let and provide option for lease takeover under grandfathered pricing. Unit is available beginning June 1, however, sub-lessee must assume responsibility of the lease by June 17th at the latest Walk-throughs are available upon request. Tenants work from home and can accommodate flexible hours throughout the day. About the Unit: Apartment #25C is a North-West facing unit offering breathtaking views of the midtown skyline, City Hall park, the Woolworth and World Trade Center buildings, and even a partial water view of the Hudson river. The "C" line floorplan offers one of the most functional layouts of any of the 1BR lines in the building. It features a large living room that can easily accommodate a couch, entertainment center, and dining table. In-unit stacked washer/dryer is included. About the Building: The New York by Gehry building offers luxury high-rise living in an architectural masterpiece designed by the legendary Frank Gehry. Located on the border between NYC's Financial District and Tribeca neighborhoods, and just a 10 minute walk from the buzzing South Street Seaport, residents have convenient access to the best parts of Downtown Manhattan living. Transportation options abound with over 10 different subway lines within 2-5 minutes walking distance, including: - 4-5-6-J-Z Trains (Brooklyn Bridge / City Hall + Fulton / Broadway) - 2-3 Trains (Williams & Fulton) - A-C Trains (Fulton & Nassau) - R-W Trains (Broadway & Warren) The Gehry Building offers a full-suite of amenities, including: - 24/7 doormen (the best in the business) - Full service valet and package room pick-up - Indoor pool - Full service gym (strength + cardio) - Yoga studio with views of downtown Brooklyn - Grilling and lounging terraces - Golf simulator and game room - Child's play room - Laundry room Walk-throughs are available upon request. Tenants work from home and can accommodate flexible hours throughout the day.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
