229 East 60th St. New York, NY

Transcription

1 229 East 60th St. New York, NY PRISTINE TURN-KEY ELEVATOR BUILDING User Building Mixed-Use Delivered Vacant FOR SALE PROPERTY FEATURES NEW Asking Price: $10,30,000 Location North side of East 60th Street between Second and Third Avenues Block / Lot 141 / 14 Lot Dimensions 20.00' x ' (Approx.) Lot Size (SF) 2,008 (Approx.) Stories (Plus Cellar) Building Dimensions 20 x (Approx.) Floor SF 1,110 (Approx.) Total Building GSF,600 (Approx./Plus Cellar) Zoning R8B FAR 4.0 (Residential) Total BSF 8,034 (Approx.) Existing SF,600 (Approx.) Additional Air Rights 2,434 (Approx.) Assessment (17/18) $1,176,989 Annual Taxes (17/18) $124,4 PROPERTY HIGHLIGHTS Newly Renovated Delivered Vacant Premier Location Live/Work User Building 3-Floors Commercial 2-Floors Residential Finished Cellar Floor Elevator Rooftop Terrace Private Garden Security System PROPERTY DESCRIPTION has been retained exclusively to arrange for the sale of 229 East 60th Street, a renovated turn-key mixed-use residential and commercial building in the heart of Manhattan s Midtown East Decoration & Design District. The property presents an incredible opportunity to acquire a move-in ready trophy asset in a premier location with tremendous user, investor or conversion potential. Perfect for United Nations user groups, retail or gallery users or live/work investors. The entire building underwent an extensive three-year renovation and features high-end custom finishes in pristine condition. Current configuration includes a renovated cellar, three floors of retail/office/showroom space (Use Group-6) and two fullfloor one-bedroom residential units. The property benefits from a new elevator servicing all floors from the ground to the roof, an expansive rooftop terrace with skyline views and a large rear garden constructed with custom imported marble. The commercial floors offer extended custom windows, slate floors, multiple bathrooms and three hospitality kitchens. The residential units have oak floors, custom bathrooms and laundry in each unit. The entire building features new thermal windows and doors, LED lighting and Mitsubishi HVAC systems for heating and cooling. On the north side of East 60th Street between Second and Third Avenues, the property benefits from superior access to public transportation, neighborhood attractions and amenities. Within one block is the Lexington Avenue/9th Street subway station servicing the 4,,6 and N,R&W trains, and three blocks north is the entrance to the subway servicing the F and new Second Avenue Q train. Nearby attractions include Bloomingdale s Flagship, Central Park, the Decoration & Design Building and the headquarters to the United Nations. Copyright 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,

2 MARKET OVERVIEW 229 East 60th Street, New York, NY RETAIL MAP RETAIL MAP E 63 ST CENTRAL SECOND AVE THIRD AVE LEXINGTON AVE E 61 ST AVE MADISON AVE FIFTH AVE E 62 ST E 60 ST TRAMWAY TRAM TO ROOSEVELT ISLAND W E 9 ST W GRAND ARMY PLAZA E 8 ST E 7 ST E 6 ST 9 TH STR E E T McKinnon and Harris Waterworks Lutron Janus et Cie The Shade Store Lapicida Galerie Van Den Akker Michael Dawkins Home Safavieh Carpets De Gournay 6 0 TH STR EET Dylan's Candy Bar Anassa Taverna Flywheel Sports Patsy's Pizzeria Canaletto Serendipity Venfield Alt Box John Salibello Ann-Morris Inc. Pascal Boyer 61 ST STR EET Scalinatella Learning Express Toys InVite Health E 61 ST E 60 ST TRAMWAY TRAM TO ROOSEVELT SE COND AV E CB2 Hastens Waterworks Ilumé Koleksiyon Furniture sohoconcept Duxiana Club A Steakhouse Auffrance Felidia TH IRD AV E 8 TH ST R E E T EAST 60 TH S T R E E T ISLAND E 9 ST East 60th Street E 8 ST Madison Ave,14 3rd Fl Copyright 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,

3 UNITED NATIONS MAP United Nations Map East 60 th Street, New York, NY EAST 60 TH S T R E E T Mile Radius from U.N. Headquarters -Missions, Consulates & Embassies UNITED NATIONS 1. Consulate General of Bulgaria 2. Permanent Mission of Somalia 3. Consulate General of the Arab Republic of Egypt 4. Permanent Mission of Cambodia. Consulate General of Spain 6. Consulate General of the Republic of Korea 7. Consulate General of Argentina 8. Consulate General of Slovenia 9. Permanent Mission of Zimbabwe 10. Consulate General of Ireland 11. Irish Consulate 12. British Consulate General 13. Consulate General of Hungary 14. Permanent Mission of Zambia 1. Norwegian Consulate General 16. Permanent Mission of Tanzania 17. Embassy of Tonga 18. Consulate General of Germany 19. Embassy of the Republic of Kenya 20. Consulate General of Ukraine 21. Consulate General of Nepal 22. Consulate General of Japan 23. Consulate General of Sweden 24. Permanent Mission of Denmark 2. Consulate General of Belgium 26. Consulate General of Jamaica 27. Consulate General of Peru 28. Consulate of the Republic of Singapore 29. Consulate General of Estonia 30. Consulate General of Antigua 31. Permanent Mission of Ethiopia 32. Consulate General of Jordan. Consulate General of India 34. Consulate General of Pakistan 3. Permanent Mission of Pakistan 36. Permanent Mission of the Russian Federation 37. Colombian Permanent Mission 38. Permanent Mission of Brazil 39. Permanent Mission of Poland 40. Costa Rican Permanent Mission 41. Permanent Mission of India 42. Permanent Mission of Syria 43. Permanent Mission of Malaysia 44. Permanent Mission of the Republic of Korea 4. Permanent Mission of Canada 46. Permanent Mission of Thailand 47. Permanent Mission of Equatorial Guinea 48. Consulate General of Qatar 49. Consulate General of Venezuela 0. Consulate General of Uruguay Copyright 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,

4 229 East 60 th Street, New York, NY PROJECTED INCOME & EXPENSES COMMERCIAL REVENUE (proj.) FLOOR STATUS LXP SF* $/SF MONTHLY RENT ANNUAL RENT LL (Finished Cellar) FM Vacant 1,020 $0 $0 $0 Ground (Commercial) FM Vacant 1,020 $12 $10,62 $127,00 2 (Commercial) FM Vacant 93 $70 $,44 $6,448 3 (Commercial) FM Vacant 93 $60 $4,67 $6,100 TOTALS 3,910 $86 $20,74 $249,048 RESIDENTIAL REVENUE (proj.) FLOOR STATUS LXP SF* $/SF MONTHLY RENT ANNUAL RENT 4 (Residential) FM Vacant 93 $7 $,844 $70,128 (Residential) FM Vacant 93 $7 $,844 $70,128 TOTALS 1,870 $7 $11,688 $140,26 *Square Footage is calculated using a 1% loss factor. NOTE: Rent is projected given current market conditions - property will be delivered vacant. REVENUE (proj.) Commercial Gross Income $249,048 Residential Gross Income $140,26 Less Vacancy & Credit Loss (3%) ($11,679) EFFECTIVE GROSS INCOME $377,62 EXPENSES (proj.) Real Estate Taxes (17/18) Actual $124,4 Insurance $1.00/GSF $,600 Water & Sewer $0.7/GSF $4,200 Electric $1.2/GSF $7,000 Repairs & Maintenance $0.0/GSF $2,800 Elevator Contract $,000/Year $,000 Superintendant $400/Month $4,800 Management 3% of EGI $11,329 TOTAL $160,984 Effective Gross Income $377,62 Less Expenses ($160,984) NET OPERATING INCOME $216,641 Asking Price: $10,30,000 Copyright 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,

5 229 East 60th Street, New York, NY Second floor commercial space facing East 60th Street with custom floors and large windows. Ground floor rear facing commercial space with atrium, private rear garden and stairs to lower level. Fourth floor residential unit bedroom facing rear with large windows and natural light. FLOOR PLANS Fourth floor residential unit living/dining room and kitchen with custom lighting and high-end finishes. FLOOR PLANS GROUND FL REAR GARDEN LL (CELLAR) GROUND FL ATRIUM SECOND FL ATRIUM MAIN ENTRY MECHANICAL & STORAGE THIRD FL OFFICE FIFTH FL ROOF BEDROOM BEDROOM MECHANICAL LIVING/ DINING ROOM LIVING/ DINING ROOM ROOFDECK Lower level (Cellar) finished with ample ceiling height, and two means of entry via interior custom decorative staircase or fire-stairs. EAST 60TH STREET EAST 60TH STREET 3 FOURTH FL BALCONY Asking Price: $10,30, Copyright 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,