Street Tribeca, NYC
EXCLUSIVE OFFERING MEMORANDUM 147 Duane Street TriBeCa, NYC
5-Story Mixed-Use Elevator Building Four Free Market Apartments & 1,000± SF Ground Floor Retail
147 Duane Street TriBeCa, NYC
Exclusive Listing Brokers
Ronald H. Cohen Chief Sales Officer (646) 424-5317 [email protected]
Jay Bernstein Associate (212) 951-8406 [email protected]
Paul J. Nigido Senior Financial Analyst (646) 424-5350 [email protected]
For financing inquiries:
Matthew Slonim Chief Operating Officer (212) 951-8405 [email protected]
Steven Weiss Managing Director (646) 472-8747 [email protected] EXECUTIVE SUMMARY
The Roxy Hotel
Executive Summary Besen & Associates, as exclusive agent for ownership, is pleased to offer for sale 147 Duane Street, New York, NY 10013 (the “Property”). Built circa 1890 in the TriBeCa South Historic District, this fully renovated 5‐story, 6,200± SF mixed-use building contains four (4) free-market, full-floor apartments with keyed elevator access, 1,000± SF of occupied ground floor retail space, and an exclusive rooftop deck for the top floor tenant. The renovated 2-bedroom/1 bath residential loft-style units feature condo-like finishes including new washer/dryer, dishwasher, and high ceilings. The retail tenant, Glowbar, “TriBeCa’s skincare destination that offers customized, 30-minute treatments, including derma planning, LED therapy, high frequency facials, and more” recently signed a 7-year lease expiring in 2026.
The Property is located in the heart of TriBeCa between Church Street and West Broadway, just two blocks from the Chambers Street [1, 2, 3, & A, E] subway station. The building is situated right off West Broadway, offering tremendous foot traffic, shops & restaurants.
The fully-renovated building is in excellent physical condition, has been very well maintained, and is located in one of Manhattan’s most expensive zip codes. The Property offers an opportunity for an investor to purchase a 100% occupied, cash-flowing asset in the heart of NYC’s famous TriBeCa neighborhood. ASKING PRICE: $8,100,000 Investment Highlights
• Core Investment: Newly renovated property with ALL Free Market units
• Prime Location: TriBeCa South Historic District – one building off the corner of West Broadway
• Cash-Flowing: 100% occupied with newly signed 7-year retail lease with annual increases
• Turn-Key Condition: Requiring minimal near-term capital and low maintenance costs
• Tax Class 2A: Preserves a low and stable expense ratio, and caps increases in assessed value to 30% over 5 years
• Long-Term Ownership: First sale in 17+ years
• Investment Strategy: An exceptional opportunity to acquire a pre-war mixed-use asset in one of Manhattan’s premier and most desirable neighborhoods, offering multiple possibilities for investor or user
• Transportation: Walk to the Chambers Street 1,2,3 & A,C subway stations, as well as the southbound M20 bus (along West Broadway) and the northbound M55 & BxM18 buses (along Church Street), with direct access to the West Side Highway, Holland Tunnel and Canal Street Property Overview – 147 Duane Street, New York, NY 10013
Neighborhood TriBeCa South Historic District
Block / Lot 147 / 10
Building Class Primarily Four Family with a Store or Office (S4)
Lot & Built Size 25’ x 50’ (Built: full)
Building Area 6,200± SF
Rentable Basement 600± SF (below-grade)
Stories 5-story + Basement
Total Apartments & Stores 4 Apartments & 1 Store + Basement
Layout (4) 2BR/1 BATH Units + Retail
Zoning C6-2A, TMU (TriBeCa Mixed Use Special District)
FAR (built / allowed) 4.97 / 6.02
Assessment & Taxes (2019/2020) $674,752 / $84,750 Location Map
147 Duane Street
147 Duane Street, New York, NY 10013 | 7 Ground Floor Retail Street Views
Looking East
Looking West
147 Duane Street, New York, NY 10013 | 9 Apartment Pics 147 Duane Street, New York, NY 10013 | 11 147 Duane Street TriBeCa, NYC
Exclusive Listing Team
Ronald H. Cohen Jay Bernstein Paul J. Nigido Chief Sales Officer Associate Senior Financial Analyst (646) 424-5317 (212) 951-8406 (646) 424-5350 [email protected] [email protected] [email protected]
For financing inquiries:
Matthew Slonim Steven Weiss Chief Operating Officer Managing Director (212) 951-8405 (646) 472-8747 [email protected] [email protected]
381 Park Avenue South, New York, NY 10016 | Tel: 212.689-8488 | Fax: 212.689-9518