69 ELDRIDGE ST 5-STORY MIXED-USE BUILDING

ASKING PRICE: $4,500,000

PROPERTY INFORMATION West side of Eldridge Street, between Grand and Hester Location: Streets Block / Lot: 306 / 34 Lot Size: 26.92’ x 67.12’ Approx. Lot Area: 1806 Approx. SF Building Size: 26.92’ x 57’ Approx.

Dimensions Square Feet Basement: 26.92' x 57' 1,400 (Approx. SF) 1st Floor: 26.92' x 57' 1,400 (Approx. SF) 2nd Floor: 26.92' x 57' 1,400 (Approx. SF) 3rd Floor: 26.92' x 57' 1,400 (Approx. SF) 4th Floor: 26.92' x 57' 1,400 (Approx. SF) 5th Floor: 26.92' x 57' 1,400 (Approx. SF) Gross SF: (Above Grade) 7,000 (Approx. SF) (Including Basement) 8,400 (Approx. SF)

Zoning: C6-1G Residential Commercial Community Facility FAR: 3.44 6.0 6.5 Total Buildable SF: 6,213 10,836 11,739 Existing Structure: 7,000 7,000 7,000 Available Air Rights: None 3,836 4,739

Assessment (19/20): $229,407

R D D E

T S E R T

E P E Taxes (19/20): $28,933 T Y YSTIE STREET T T

GE ST. TREET STREET EET

T E T LACE . TH STREET

SPRING STREET EXECUTIVE SUMMARY en mare DELANCEY STREET K KENMARE STREET F BROOME STREET Park M Cushman and Wakefield has been retained on an exclusive basis

ary’ s St. M rch R.C . Chu

BROOME ST. to arrangeSa the sale of 69 Eldridge Street. The subject property is a

T E STRE TE T AFAYE L

T E STRE NTRE CE MOTT ST. ELIZABETH ST. CENTRE MARKET PL. MULBERRY ST. r D Lowe GRAND STREET P Eas t five-story mixed-use building, located on the west side of Eldridge d id e Sewar S ark P s House GRAND ST. Street, between Grand and Hester Streets. This 7,000 SF building

Littl e d Sew ar MONTGOM y ark Ital P s consists of 2 ground floor retail units and 11 residential units above. House

N 4 rd ER J Sewa EAST BROADWAYThe retail units are occupied and benefit from tall ceiling heights, ar k CLINTON STREET HOWARD STREET P HESTER ST. B exposed brick and additional storage space in the basement R 5 F HENRY STREET Z JEFFERSON STREET ST s r(both retail units have their own sidewalk basement hatch aus u F Str are ne Squ er al MADISON D uv spit Q Goo /door). Of the residential units, #2, #3 and #4 were recently CO 6 CANAL STREET H L

RUTGERS STREET

LANDT ALL LANDT T R LAFAYETTE STREET LAFAYETTE Harry DIVISION STREET s

se

WAY AD RO B renovated. Unit #3 is vacant. There is no Certificate of Occupancy CENTRE STREET CENTRE Howard Squa re u

T BAXTER STREET E o

MU

H L a H

I

E

W Z L M15 rdi

A

B a B u

B E O on file although I-Cards exist (available upon request or through aG

R

E

W PIKE STREET L EY

T

R

E

H

Y

M

R

S

S

O

69 ELDRIDGEY ST

FRANKL

T

T

T

R RE HPD). The DHCR’s have not been filed since 1998. The building

T

E

S

E

E

T

T inal T s I Cr im s

N Civi c a RE nd BAYARD STREET er urt s P Mun icipa Co s

L l e E nfuciu ACE Buil din g benefits from great light and air considering there are air shafts to Cou o a us rt T Rutgo C laz P H

MARKET STREET BENSON PLACE BENSON Famil y RUTGERS SLIP the north and south as well as a 10’ rear yard. There is a newer gas Cou rt C DOYERS ST. Pa o PELL STREET l r um k b u DIVISION STREET boiler in the basement. Area neighbors include the Milton Resnick & s CATHERINE LANE Departm ent of He alth & MOSCO ST. Hospitals Chatha m EAST BROADWAY Pat Passlof Foundation at 87 Eldridge Street, James Cohan Gallery

WORTH STREET Squa re CATHERINE STREET PIKE SLIP

T E STRE NTRE E C M9 LAFAYETTE STREET . CARDINAL HAYES PL. n J a Th oma s Ki mla u HENRY STREET ul Johm re at 291 Grand Street, HSBC, Bowery CrossFit, Valley National Bank, Squa OLIVER STREET STREET Pa ine Fole y Squ are re ua La q Pa rk HAMILL PL. Courtho use S

MADISON STREET r ke TD Bank and the B & D Grand Street subway stop. Any sale shall be c PEARL STREET NT PL. KE erbo

EET DUANE STREETE e

L ick JAM n g K M22 K a

on an as-is, where-is basis only.

S Vill REPUBLICAN ALLEY PARK ROW ES STREET MONROE STREET MANHATTAN B T e

R s M u

EET PE a o r Fole y th k r ARL S e u Sq uar e o t Sl St R . C i ID P . p l A .S T ET GE a U ERRY STREET CUSHMAN & WAKEFIELD / 1 E H RE 69 ELDRIDGE ST FINANCIALS

COMMERCIAL REVENUE

Unit Floor Lease Exp. Monthly Annual

Store 1 Grnd 6/1/20 $3,914 $46,968

Store 2 Grnd 4/1/21 $4,000 $48,000

Commercial Total: $7,914 $94,968

RESIDENTIAL REVENUE

Unit Floor Lease Exp. Monthly Rent Annual Rent

1A 2nd 5/31/19 $2,175 $26,095

1BB 2nd 5/31/19 $1,147 $13,764

1BF 2nd 5/31/19 $835 $10,020

1 3th 5/31/19 $1,421 $17,052

2 3th 8/31/20 $1,472 $17,664

3* 4th Vacant $3,250 $39,000

4 4th 5/31/19 $2,006 $24,074

5F 5th 6/1/18 $1,172 $14,064

5B 5th 5/31/20 $1,082 $12,984

6B 5th 5/31/20 $1,304 $15,648

6F 5th 5/31/19 $1,271 $15,252

Residential Total: $17,135 $205,616

GROSS INCOME: $25,049 $300,584

Projected

ESTIMATED EXPENSES: Actual NOI: Actual Real Estate Taxes (19/20): $28,933 Gross Annual Income: $294,578 Vacancy & Credit Loss: 2% $5,892 Heat: (Gas) $11,550 Expenses: $73,070 Water/Sewer: $8,750 Net Operating Income: $215,616 Electric: $1,400 Insurance: $7,000 Repairs & Maint.: $6,600 FORSYTH STREET GRAND STREET Management: (3%) $8,837

TOTAL: $73,070 STREET HESTER ELDRIDGE STREET

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MEI LING WONG BRYAN F. HURLEY CUSHMAN & WAKEFIELD Senior Managing Director Director Associate Director 1290 Avenue of the Americas (212) 660 7772 (212) 660 7716 (212) 660 7706 8th Floor [email protected] [email protected] [email protected] New York, NY 10104 Cushman & Wakefield copyright 2019. 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 condition of the property (or properties) in question.