27 Allen , New York, NY Development / User Opportunity

FOR SALE Asking Price: $6,000,000

PROPERTY INFORMATION

West side of between Canal and Hester Location: Street

Block / Lot: 300 / 24 Lot Size: 25.23' x 87.5' Approx. Lot Area: 2,208 Approx. SF Building Size: 25.23' x 75' Approx. Stories: 2 Dimensions Square Feet

Ground Floor 25.23' x 75' 1,892 (Approx. SF) 2nd Floor 25.23' x 75' 1,892 (Approx. SF) Gross SF (Above Grade) 3,785 (Approx. SF) Certificate of Occupancy: Storage; Retail Store; Showroom Historic District: None Zoning: C6-1G Commercial Residential Community Facility FAR: 6.00 3.44 6.50 Total Buildable SF: 13,246 7,594 14,350 Minus Existing Structure: 3,785 3,785 3,785 Available Air Rights: 9,461 3,810 10,565 Assessment (17/18): $ 209,160 (Tax Class 4 - Commercial Property) Taxes (17/18): $ 22,117

PROPERTY DESCRIPTION

Cushman & Wakefield has been retained on an exclusive basis to is responsible for all heating and electrical costs associated with the arrange for the sale of 27 Allen Street. The 2,208 SF lot, which is building while the owner is responsible for all remaining expenses. The currently improved by a 2-story commercial building, measures 25’ x building is built 25’ x 75’ and therefore there is a small rear yard on the lot. 87.5’ and is within the C6-1G zone. Located on the of Allen Street between Canal and Hester , 27 Allen Street presents The C6-1G zone allows for a mix of uses including Residential, Com- mercial and Community Facility. A developer could build a Residential a unique opportunity to purchase a well located development oppor- development of approximately 7,594 BSF (3.44 FAR), Commercial of tunity in one of ’s most exciting and emerging markets. 13,246 BSF (6.00 FAR) or Community Facility of 14,350 BSF (6.50). Furthermore, the property would be ideal for a user looking to occupy Due to the strong demand for retail, office, hotel and residential space the building for their own use once the current tenant’s lease expires. in the immediate area, a developer would benefit from building a mixed- use building between 13,246 BSF and 14,350 BSF. The area has wit- 27 Allen Street is currently occupied by the retail tenant ZIPPER- nessed a tremendous amount of new development in recent years. STOP paying $7,500/month with a lease until March 2018. The tenant

For more information, please contact Exclusive Agents: Michael F. DeCheser Darragh Clarke Mei Ling Wong Cushman & Wakefield 275 Madison , 3rd Floor Senior Managing Director Director Director New York, NY 10016 (212) 660 7772 (212) 660 7737 (212) 660 7716 phone: 212 696 2500 [email protected] [email protected] [email protected] nyinvestmentsales.com Cushman & Wakefield Copyright 2015. 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, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condi- tion of the property (or properties) in question. 27 Allen Street, New York, NY Development / User Opportunity

38 Completion: 2010 17 Stories / 55 Units Completion: In-progress Residential Condos 1,870,000 SF Mixed-Use 1

100 Norfolk Street Completion: In-progress 12 Stories / 38 Units Residential Condos 2 3 2 1 Holiday Inn NYC - LES Completion: 2015 8 Stories / 132 Keys 9 3 10 4 5 7 134-142 Completion: In-progress 6 8 8 Stories Residential Condos & Hotel 11 4 16 135 Bowery Completion: 2015 12 15 13 8 Stories / 8 Units Office Rental 14 5

42 Allen Street Completion: 2017 HESTER STREET Wyndham Garden 8 Stories / 8 Units Residential Rentals Completion: 2013 11 18 Stories / 106 Keys The Leon Hotel 6 Completion: 2014 6 Stories / 40 Keys 228-226 12 Completion: In-progress 6 Stories / 22 Units 86 ALLEN STREET Residential Condos 7 Completion: 2017 12 Stories / 42 Units/Keys Residential Condos & Hotel 13 79 Eldridge Completion: In-progress Hotel (pending approval) 2 Pike Street Completion: In-progress 8 14 Stories Office & Community Facility 14

ELDRIDGE STREET The Allen Hotel Completion: 2017 Jarmulowsky Bank Conversion 8 Stories / 41 Keys Completion: In-progress 9 12 Stories Commercial 15 324-326 Grand Street Completion: 2017 7 Stories / 17 Units Theater Residential Rentals Completion: 2017 10 Movie theater conversion CANAL STREET 16

For more information, please contact Exclusive Agents: Michael F. DeCheser Darragh Clarke Mei Ling Wong Cushman & Wakefield 275 , 3rd Floor Senior Managing Director Director Director New York, NY 10016 (212) 660 7772 (212) 660 7737 (212) 660 7716 phone: 212 696 2500 [email protected] [email protected] [email protected] nyinvestmentsales.com Cushman & Wakefield Copyright 2015. 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, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condi- tion of the property (or properties) in question.