ID #10867


FIVE STORY MIXED-USE BUILDING FOR SALE
EXCELLENT INVESTMENT/DEVELOPMENT OPPORTUNITY

NEW YORK, NEW YORK

Lot Size: 25’ x 88’
Building Size: Basement: 25’ x 88’ = 2,200
Store: 25’ x 88’ = 2,200
2nd Floor: 25’ x 48’ = 1,200
3rd Floor: 25’ x 48’ = 1,200
4th Floor: 25’ x 48’ = 1,200
5th Floor: 25’ x 48’ = 1,200
9,200 Below Grade
7,000 Above Grade
Stories: Five (5) Plus Full Basement
Gross Square Feet: 7,000 (Approximately)

Zoning: (FAR)
Total Buildable Square Feet: Total Available Air Rights: Assessment:
Real Estate Taxes:
C6-1G (6.0) R7 Equivalent (3.44) Height Limit 120’ 13,200
6,200
$335,940 (24/25)
$41,992.52

Description: A 25’ wide four unit, 5-story mixed-use walkup apartment building with a store on the ground floor. Floors two through five are floor
through loft apartments. The apartments are decontrolled and can be
used for live work. They have been renovated with new kitchens,
new bathrooms, new tiled 10’-12’ ceilings, and new floors. The
building is fully sprinkled, new roof and the common areas are in
good condition. Each unit is sub-metered, with their own heating and
cooling units.
The property is located in an area that has a lot of demand for retail
space and residential apartments. Since the property is Located off
Grand Street and two blocks from the D and B trains the store and
apartments above will always command high rents in this 24/7
location. There is also a 14-story hotel being built across the street at
79 Eldridge Street which will increase foot traffic in the area.
The property is a prime investment opportunity because all the
units are free market and the rents can be increase to what the market
can support. The owner does not have to pay to heat the building
because all the tenants have their own gas boilers. Since the property
only has four units and a store it’s not necessary to pay a
management company to manage the building.
The property is also a great development opportunity, with 13,200
buildable square feet the building can be developed into a residential
condo building or an office building or a hotel. Note: The store is
paying $15,200 per month they also pay the water and sewer.
Income:
Unit Description Unit Type Revenue: Lse Exp Ground Floor: Store Adult Day Care Commercial $14,900.00 10/1/30
Second Floor: #1 3 Bedroom Loft 1,200 sq. ft Free Market $6,000.00 10/30/26 Third Floor: #2 3 Bedroom Loft 1,200 sq. ft Free Market $6,000.00 2/28/26 Fourth Floor: #3 3 Bedroom Loft 1,200 sq. ft Free Market $6,000.00 8/30/26
Fifth Floor: #4 3 Bedroom Loft 1,200 sq. ft Free Market $5,700.00 6/30/26 Total Monthly Income: $38,600.00 Total Annual Income: $463,200.00 Note: The tenants pay their own heat, cooking gas & electric. They have their own boilers. Note: For the store there is a 3% to 4% increase per year.
Note: The maximum the real estate tax can increase by is 3% per year.
Expenses:
90 Eldridge St
Real Estate Taxes: $41,992.52
Water & Sewer: Paid By Store $0.00
Electric: Common area $1,200.00
Insurance: $11,000.00
Repairs and Maintenance: $3,500.00
Management (3%) $13,896.00
Total Expenses: $71,588.52
Net Operating Income: $391,611.48 CAP RATE: 5.8% ASKING PRICE: $6,750,000+ fee




contact if interested: usapropertysale@gmail.com