Tribeca

COMMENTS

• Prime Tribeca location
• Potential condo development
• Can be delivered vacant
• Income-producing property in as-is condition
• Available air rights for construction or potential sale to neighboring developments
• Attractive cap-rate investment in as-is condition

The ground level features approximately 14’ ceilings, one bathroom, central air, and a rear skylight. The basement offers 9.8’ ceilings with an additional bathroom. Currently used for storage, the lower level could potentially be connected to the ground floor.

The second floor is a newly renovated, full-floor loft with 2 bedrooms, 2 bathrooms, central air, washer/dryer, and approximately 12’ ceilings.

The third floor is currently configured as a one-bedroom, full-floor loft with 1.5 bathrooms, central air, washer/dryer, and an interior office.

The fourth floor is laid out as a one-bedroom, one-bathroom unit featuring multiple skylights, an open kitchen, central air, and washer/dryer.

The property offers immediate investment income in as-is condition, with a current cap rate just below 4% based on today’s market rents. With modest improvements and operational efficiencies, a future owner could potentially increase returns to approximately 6%.