20 Clinton Street, New York NY
Investment Opportunity Lower East Side New York RETAIL CONDOMINIUM AT 20 CLINTON STREET FOR LEASE OR SALE
ASKING PRICE Exclusively Offered by
RKF INVESTMENT SALES $2 M & ADVISORY SERVICES Executive Summary RKF Investment Sales & Advisory Services (“RKF”) has been retained as the exclusive agent for the sale of 20 Clinton Street, vacant retail condo with 1,250 SF on the Ground Floor and 450 SF in the Lower Level.
The Property is situated mid-block with 28 FT of frontage along the east side of Clinton Street between Stanton and East Houston Streets in Manhattan’s historic Lower East Side. The property can accommodate black iron venting for food use. Investment Highlights DYNAMIC LOCATION Located in the Lower East Side, the property benefits from a market that is currently undergoing a dramatic makeover. There is a steady increase in pricing in both the residential and retail rents year-over- year in the Lower East Side, indicative of the market demand and robust market conditions.
The neighborhood is “hip” for millennials and has also seen rising interest from families creating an eclectic mix of nightlife, music, art, upscale boutiques, hotels and high-end residential developments.
Situated in close proximity to two subway stations with access to the B, D, F, M, J and Z subway lines make it ideal for the surrounding residential and retail developments.
NEW DEVELOPMENT Driving the transformation is the $1.1 billion mixed-use Essex Crossing mega project, which is set to deliver 1,100 residential units along with 350,000 SF of office space and 450,000 SF of retail across ten buildings. Other developments in the neighborhood include members’ club Ludlow House and luxury condominiums at 196 Orchard, the base of which will soon house an Equinox Fitness Club. One Manhattan Square, a luxury condo building, has a projected sell-out of $2.1 billion.
VENTED RETAIL SPACE The bright space can accommodate black venting out the rear of the unit. This is ideal for any investor looking to capitalize on the vibrant food and beverage scene for which Clinton Street is known.
20 CLINTON STREET | 2 Property Overview
PROPERTY ADDRESS 20 Clinton Street, New York, NY 10002 LOCATION Clinton Street (between Stanton and East Houston Streets) CONDO UNITS 2 FRONTAGE (ON CLINTON STREET) 28 FT
3/10/2017 EXISTING SFDigital - GROUND Tax Map FLOOR- New York City Department of Finance 1,250 SF
EXISTINGmap SF - D(LOWERigital T LEVEL)ax Ma -p BASEMENT - New York City Dept. of Finance (3/10/2017) 450 SF ZONING R7A/C1-5 REAL ESTATE TAXES (2017/2018) $37,966
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http://gis.nyc.gov/doitt/webmap/print.htm?z=9&p=988557,201639&a=DTM&c=dtm&f=CONDO_RANGE,LOT_FACE_SMALL&s=l:MANHATTAN,344,145,EVE… 1/1 Property Images
20 CLINTON STREET | 4 Market Overview NEW DEVELOPMENTS The Lower East Side is a neighborhood in lower Manhattan, bounded by Canal Street, Houston Street, Bowery and the East River. Like other neighborhoods in the city, it has undergone successive transformations—from a colonial-era farm into a working-class district where immigrants lived in tenement buildings, and from a hub of nightlife, music and art into an enclave for wealthy New Yorkers.
More than 30 permits have been filed for new development in this vibrant area in the last year.
ESSEX CROSSING Essex Crossing is a planned mixed-use development in the Lower East Side, specifically at the intersection of Delancey Street and Essex Street just north of Seward Park, in part of an existing area known as the Seward Park Urban Renewal Area (SPURA). The $1.1 billion mega-project will sit on a total of nine city blocks. Construction began in mid-2015 and is expected to conclude by 2024.
Upon its completion, Essex Crossing will host a new and expanded Essex Street Market, restaurants, office space, a movie theater and a park. Retail tenants, such as Trader Joes, Target, Planet Fitness and Regal Cinemas have signed on to be part of the project. The development is also set to include 1,000 residential units, half of which will be permanently affordable housing.
The first phase of Essex Crossing, which includes four new buildings and Market Line, a 150,000-SF marketplace connecting the buildings to the Essex Street Market, is slated to open Quarter 42018.
20 CLINTON STREET | 5 Blue & Bowery Cream SECOND AVENUE Meat Company
EAST 1ST STREET FIRST AVENUE The Alchemist's Otherwild Kitchen NY Cozy Cafe Siggy's Good Food Area RetailAVENUE A Tom & Jerry's
EAST OUSTON STREET EAST OUSTON STREET Suffolk A Little Popular East Sugar Russ & Mercury element Remedy Diner El Maguey La Tuna Fools Gold Mezetto Daughters Lounge Arms Wicked Tax The Gatsby Hotel Houston Café Heaven's Hotel Macando Army & Navy Hot Bagel myplasticheart Club Element Mole The Masalawala ABC L.E.S. Subject The Pause Cafè HAMILTON Steven Harvey PLAYGROUND Fine Art Projects Saphire Lounge Pala Benson's Rockwood The Little Laptop Shop FISH PARK Flower Girl Music Hall Bowery and Vine Fred NYC Prohitbition Bakery Paulaner Brewery Los Perros Locos Lisson Gallery Taylor Cruther's Studio Rooster Gallery Obsessive Nativity Mission Center Compulsive Taverna Di Bacco Rachel Uffner Worldwide Restaurant Equipment Cosmetics Reinstein Ross Ludlow Guitars Soho Contemporary Art bOb Bar Goldsmiths Cocobar 20 CLINTON STREET Elizabeth Houston Assembly New York Clayton Sperone Westwater Konditori Gallery Showtime Salon Grit n Glory Taquitoria Gallery The Rising States Dark Room NEWCastellano YORK, NY The Skinny Electric Motors
No Fun Clinton We the People Albanese Rodriguez Flower Fashion Meats & Poultry Associates Shop Collective Minnie’s STANTON STREET Symbo STANTON STREET A. Turen Hair of LV2 Creffle Café Silver NY Hardcore Mi Casa Su Leave Rochelle 205 Frosche & Dacia Fusion Arts the Dog Monument Tattoos Cata Out of It Club Portman Gallery Museum San Loco Works Casa Park Bikram El Nuevo Yoga Restaurant Stanton The Flying Row Apizz Saka Mai Pizza (Barber Shop) La Gamelle Restaurant The Reformation Squadra Nara Van Doren Waxter Two Bit's Retro Arcade Blue Atelier Boutique Richard Wassail Taittinger Tijuana Picnic Rayuela Manhattan La Margerita Gallery RINCE STREET Ehvonnae Pizzeria BYGGYZ et al. Unisex People Restaurant 3 Sixteen Yaf Sparkle Carolina Sarria Shut Lazar Mechanical The Box Nena Resurrection Fine China Tea Azasu Plank Pilates Studio SARA D Bowery Mission Copper and Oak Real New York Gallery Artshop ROOSEVELT Forsyth Sandwich Local 138 Bar Objectify & Coffee Patacon Pisao New Life Karaoke Boho Garfunkels Well Connected SoHo House Mazaar Lounge After School Program
O ERY Mass Market Republic Capital Invisible NYC Mikey's Burger Libation Iggy's Celtic Lounge Sons of Essex Pizza Mini Munchies Katra Epaulet Creperie Taqueria Diana
FORSYT STREET FORSYT Gallery 128 El Paraiso Food Market
C RYSTIE STREET C RYSTIE Park Broadway EZ Mini Charrua Iconic Exterminating Edith Magazine Mart Mechinist The Magician Bike Works Micko Inkline Marshall Restaurant Clinton Deli & Grocery Building Ale et Ange Economy A Plus Morgenstern’s Leekan Studio Stack Babeland Tani Candy Verlaine & Bar La Caverna ALiFE Cibao Restaurant Restaurant Finest Ice Cream Designs Materials RIVIN TON STREET RIVIN TON STREET Christian Essex Bar The Falafel Schiller's Nitcap Szeki Black Crescent Near & Far Wolfnight Shop Liquor Bar Sue Scott Cutie Thierry Off Soho Burger/Bar 65 Berst Vida Gallery Room Goldberg Suites Gallery Welcome St. Jerome's Naural Projects Dodge to the Bar Gallery Johnsons Loreley Balter Sales Le Turtle S.E.T. LES
ELI A ET STREET ELI A ET Company Ellen Champion Pizza World Hats Hi Thai Congee Caffe Vita Restaurant Tea Gallery Essex Taqueria Precision East Village Wines & Liqours Kris Graphics The Whiskey Ward
Buddy Warren Char Sue Roni-Sue Chili's Indian Clinton Supermarket & Mall S RIN STREET Pop International Chocolates Restaurant Galleries Los Feliz Antler Beer & Wine Dispensary Lucky Tenden Za Advance Tache Artisan Chocolate Jack's Bar Juicy Spot Café Saro Yama Kitchen Dolce & Dolce Roma Pizza Supplies Brian Morris Gallery Amigo Dixon Place Hill & Dale Champion Pizza Mini Mart STREET ITT
RID E STREET RID E
ALLEN STREET ALLEN ALLEN STREET ALLEN
ESSE STREET ESSE P.S. 142
LUDLO STREET LUDLO
CLINTON STREET CLINTON
SUFFOLK STREET SUFFOLK
NORFOLK STREET NORFOLK
ORC ARD STREET ORC ARD ELDRID E STREET ELDRID E Famous Sammy's CS Restaurant STREET ATTORNEY Supplies New Chung 99¢ Pizza Get Master Wah Inc. Retro Happy Bowery Pacific Bar and Wok Set La Isla Café Kitchen Aquarium Red Royalty Professional Michelle Triangle Ludlow Restaurant Bowery Supplies Gallery Neon Olivieri Optical Grill Supplies Balloom & Pet Fitness DELANCEY STREET DELANCEY STREET DELANCEY STREET ILLIAMS UR RID E A ROAC KENMARE STREET Issey Miyake DELANCEY STREET DELANCEY STREET Adventure DL Iglesia Tribes of Callicoon Iermonti James The Yard ILLIAMS UR RID E A ROAC Sel Rrose 4 Seasons Fine Arts Gallery Fuentes Café Bar Vegetable Inc Adventista Morocco Gallery Creative Green Star Sign and Hotel Blue Moon Foods Restaurant Sign Doka Square Petee's Pie Co Sun Bakery Equipment C&L Restaurant Dutton Gallery L.Mak Projects Berkli Parc DELANCEY STREET Sino Carpet & Tile MILES Gallery Supply JSA Wholesale Hionas Gallery Arcilesi Station Independent Congee Sunshine Gallery Homberg Village Bar Cougar Mark Fisher Fitness Projects Gallery Go Go Gone Fine Arts Bike Shop Italian theBoil Shoot The Fashions Lobster Shung Kee Food National Cash Woodward Round K Café Register Gallery The Good Inborn Oshman Brothers Company ESSEX CROSSING Guangyu Lighting Henri Café Attaboy Bar O'Lampia Studio TBD Gallery Woodward Gallery Stellina 1.9 MILLION SF OF MIXED-USE SPACE Blueman J&S Boni Knitware Hardware Blacktree Yan's Foot Exhaust Fine English Happy Con Sign & Lucky Babycakes Corp LNC Flooring System Reflexology RPM Bar Piacere Fabrics Ending Body Centre Glass Bee NYC QT Strada Signs Randolph ROOME STREET Bar ROOME STREET Louie & Chan Simon Arco Concept Essex Street Capital Restaurant Preston Gallery Apparel Solo Lighting Lighting Fuzhou Jin Sushi Pet Boutique Tropical Cusine New Generation Galaxy Bar & Lounge Greenberg Williamsburg Pizza Eurotrend Lighting Display Inc Windsor Efficient Computer Sticky Rice Brilliant LED Duo Tian Bakery ML Graphics Broome Hotel La Crepe C-est Si Bon An Choi New Modern Lampshades, Inc. J&J Stainless Steel Supplies New York Lighting Spur Lighting Yokkoyama Dirt Candy Tree Lyles & King Gallery Hat Market Perfect Furniture Cafè Katja H Optics iDesign Joyopos Davis & Warshow Digital Records Gen Ramen Essex Street Gallery IF & L Printing The Lighting By Robert James Studio Mes que Café Lions King Print Asia Universal Chang Sheng Food CW Pencil Enterprise Fontana's Ty Furniture Lendy Electrics Harris Levy Ri Xin Store William Lighting Grand Electrical Equipment Holman AVC Chancellor Travel Sasha Wolf Gallery Lok Ping Gallery A & E Bowery Restaurant ContactPilgrim Lighting inc Double M&A Syger Sheilas La Flaca Henry Crispy Tu Quynh First Decorators Bakery Forever Metro Lucky Decorating Street Pharmacy International Oceanstar Aqua Video King Hong Kong Century Two Boots Health Seafood Furniture LTD Pharmacy Amphitheater at Grand Playhouse Bank Best, Inc Inc Bakery Lower East Side RAND STREET Brian Segall RAND STREET Vice President 212.351.9346 [email protected]
George Martinecz Associate 212.916.3381 [email protected]
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© 2018 ROBERT K. FUTTERMAN & ASSOCIATES, LLC All information is from sources believed reliable, not independently verified, and thus subject to errors, omissions, and modifications such as price, listing, square footage, rates and commissions. All information, estimates and projections subject to change, market assumptions, unknown facts and conditions, and future potentialities. RKF makes no express or implied representations or warranties, as facts and results may vary materially from all information, estimates and projections. All renderings presented are conceptual.