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632 HUDSON STREET BETWEEN HORATIO AND JANE STREETS PRESENTED BY BARBARA DANSKER Licensed Associate Real Estate Broker Tel: (212)430-5141 BDansker@MarcusMillichap.com ZACHARY ZISKIN Licensed Associate Real Estate Broker Tel: (212)430-5106 ZZiskin@MarcusMillichap.com
632 HUDSON STREET BETWEEN HORATIO AND JANE STREETS TABLE OF CONTENTS 01 02 FINANCIAL ANALYSIS
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INVESTMENT HIGHLIGHTS Prime West Village Location 1,800 SF Retail Storefront Active Liquor License by State Liquor Authority Offering to consider Food use that does not cook on Premise Will be Delivered Vacant 150 SF Rear deck on Ground Floor Option to Buy/Rent Lower Level Catering Hall Ideal Owner/User or Investment Opportunity Steps from Meatpacking District, Highline and the Whitney Museum Close Proximity to the 1, 2, 3, A, C, E and L Subway Lines RETAIL OFFERING
Marcus & Millichap is pleased to offer for sale the 1,800 SF ground floor at 632 Hudson Street in the Historic Greenwich Village neighborhood of Manhattan. It is located on an extremely desirable stretch of Hudson Street where the far West Village meets the exciting and vibrant Meatpacking District. The ground floor and below grade level of 632 Hudson Street has been licensed by the SLA as a Catering Hall since 2009. It includes a 150 sq. ft. planted deck in the rear of the ground floor as well as a private staircase leading to the lower level. The ground floor has a maximum occupancy of 75 to 100 people and the lower level has a maximum occupancy of 40 people.the remainder of 632 Hudson Street is owner occupied and is used for personal living and business purposes. Located on a large thoroughfare in the West Village, busy with both pedestrian and vehicular traffic, the subject offering is steps from the Highline and Whitney Museum as well as close to the following: Chelsea Market, Google, Soho House, the Apple store, the Gansevoort Hotel, the Standard Hotel, Industria, the new flagship Restoration Hardware, High Street on Hudson, Fig and Olive, Barbuto, Tenjune as well as retailers; Hugo Boss, Rag &Bone, Theory, Helmut Lang, Maison Margiela, Christian Louboutin and Marni to name but a few. PROPERTY DETAILS 632 HUDSON STREET Address 632 Hudson Street City, State, Zip code New York, NY 10014 Block & Lot 626-25 Lot Dimensions 23 X 90 Lot SF 2,052 Building Dimensions 23 X 86 Ground Floor SF 1,800 Lower Level SF 900 Zoning C1-6 Year Built 1847 Tax Class 4 RETAIL OFFERING
PROPERTY HISTORY Originally built in 1847 as a townhouse for the family of a sashmaker, 632 Hudson Street was converted to a general store and produce market late in the 19th Century by Hugh King whose name appears on the pediment. This particular owner left a clear imprint on the building; from across the street one can make out the faded letters of the words fine whiskies and wine and Hugh King 1881 is visible on the pediment to this day. He operated an import business and general store, purveying fine whiskies, wines and brandies among other goods. It is rumored (though of course cannot be proven as it was illegal) that during the Prohibition era the basement operated as a secret Speakeasy. Intrigued by this very real possibility, the present owner after much painstaking research, restored and recreated a replica of the 1920 s Speakeasy as she imagined it had been. In this iteration it has been functioning as a private catering hall and venue for corporate and private functions of all kinds since 2009. Before the Meatpacking District took on its current nightlife hotspot personality, it was home to businesses such as the Esteve Packing Corporation, which purchased 632 Hudson Street in 1939 in order to open and operate an import export business and Chorizo sausage factory. It operated as such until 1992 when the present owner purchased the building and now derelict sausage factory from its 97-year-old owner Mrs Esteve, and embarked on a massive renovation, which included a complete redesign, reconfiguring and historically accurate restoration designed to bring 632 Hudson Street back to its former glory. RETAIL OFFERING
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LOWER LEVEL / SPEAKEASY
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632 HUDSON STREET BETWEEN HORATIO AND JANE STREETS PRICING PRICING $6,000,000 Retail SF 1,800 Price per SF $3,333 Tax Class 4 RETAIL OFFERING
FINANCIAL ANALYSIS CASH FLOW RETAIL OFFERING