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7 Centre Market Place 7 Centre Market Place By: Jennifer H. Cooke Licensed Real Estate Salesperson 1926 Broadway New York, NY 10023 t: 212-588-5684 c: 917-733-6346 7 Centre Market Place Listing Price: 9,500,000 Downtown, between Broome and Grand Streets in the shadow of the landmark dome that tops off the old Beaux Arts Police Headquarters building, is a now-peaceful street just one block long called Centre Market Place. But nearly a hundred years ago, Weegee came here to shoot the perp walks of colorful gangsters for the tabloids, and Berenice Abbott came to shoot her famous photograph of a gun shop’s sign in the shape of an enormous revolver. Today the guns are long gone, replaced by a handsome row of rapidly gentrifying houses. One of the most desirable is the 5-story, 25-foot wide building now on offer at Number 7. Currently configured with two free market residential units, one commercial space and a penthouse duplex for the owner, this property is a rare find for the live-with-income downtown buyer. The penthouse duplex of this building was created by an architect and a designer to provide an oasis of calm and sophistication between the bustle of Soho and Little Italy. You can live in the distinctive owner duplex and collect income from the remaining two residential units and commercial space or rent out the entire building for a strong investment opportunity in this rapidly gentrifying block. The building has been meticulously maintained and all the residential units are on a month to month basis. Please contact Jennifer Cooke at jcooke@bhsusa. com for rent roll and to schedule a viewing. • Built 25’ wide 49’ deep • Zoning: C6-2G • Approx sq footage: 5,750 • Block: 471 Lot: 7 • Annual Taxes: $58,649 • Not Located in a Historical District Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Property Listing Layout: Entering from the street into the ground floor commercial unit, you pass between two large glass picture win- dows on either side that have displayed the creations of a number of boutique designers. It’s Nolita without the attitude. Currently, the windows display wedding dresses from the renowned Australian wedding dress designer Karen Willis Holmes. This commercial space has a 5-year lease. 2nd Floor: Stairs to the right of the commercial entrance bring you up to the 2nd floor unit. The layout of this floor- through apartment captures the essence of the downtown designer aesthetic. Currently used as a 2-bed- room/1 bath unit, it has a w/d and plenty of storage space. Tenant is month to month. 3rd Floor: Currently configured as a 2-bedroom/1 bath floor-through unit, the 3rd floor apartment awaits a new owner’s vision. This unit also has a w/d and large kitchen. Tenant is month to month. 4th/5th Floor: The owners of the building have exercised exquisite taste in designing every detail of this Modernist two bedroom/two bathroom duplex for their own use. Afternoon light floods the loft-like main floor which fea- tures an open kitchen, dining and living room in the front, and a bedroom and full bath in the back. The stairs open into a wide hallway where a desk and study area bask in natural light. The master bedroom is off to the right with an ensuite master bath with w/d. There are two terraces on this floor. One terrace faces east and offers complete serenity and solitude. The other faces west and provides a spectacular view of the old Police Headquarters Building. Cellar: This high ceilinged floor is divided into two storage spaces. One is currently used by the commercial tenant and the other can be rented out or used for personal storage. This floor also houses the mechanicals. Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Rent Roll and Expenses Unit Description Lease Expiration Monthly Rents Projected Rents Street Level: Leased to Karen 11/2018* $8,997** $9,267** Commercial Willis Holmes Used as 2 bedroom Month to Month 2nd Floor: /1 bath floor-through 60-day vacate clause $4,900 $6,000 Residential with w/d 2 bedroom/1 bath 3rd Floor: floor-through with 7/2018 $4,500 $6,000 Residential w/d 4th/5th Floor: 2 bedroom/2 bath Owner Occupied N/A $12,000 Residential with 2 terraces *tenant has and will take the option to renew for 5 more years after current lease is up. **3% increase/year Projected Monthly Rent: $33,267 Projected Annual Rent: $399,204 Estimated Annual Expenses: Real Estate Taxes: $58,649 Insurance: 6,200 Con Ed (common areas) 600 Water/Sewer 600 Fuel 4,200 Annual Expenses: $70,249 Projected ROI: $328,955 Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Owner Duplex Living Room Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Owner Duplex Dining Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Owner Duplex Kitchen Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Owner Duplex Master Bedroom Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Unit 2 Living Room Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346 Floorplan Jennifer H. Cooke Licensed Real Estate Salesperson [email protected] 212-588-5684 917-733-6346.
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