121 DIVISION ST 3 STORY MIXED USE BUILDING NEW YORK, NY Between Orchard and Ludlow Street | South Side of Division ASKING PRICE: $6,500,000 PROPERTY INFORMATION

South side of Division Street, between Orchard and Ludlow Location: Streets Block / Lot: 283 / 88 Lot Size: 26.4’ x 63’ Approx. Lot Area: 1,573 Approx. SF Building Size: 26.4’ x 52’ Approx.

Dimensions Square Feet Basement: 26.4' x 52' 950 (Approx. SF) Ground Floor: 26.4' x 52' 1,350 (Approx. SF) 2nd Floor: 26.4' x 52' 1,350 (Approx. SF) 3rd Floor: 26.4' x 52' 1,350 (Approx. SF) Gross SF: (Above Grade) 4,050 (Approx. SF) (Including Basement) 5,000 (Approx. SF)

Zoning: C6-2 Commercial Residential FAR: 6.00 6.02 Total Buildable SF: 9,438 9,470 (Approx. SF) Minus Existing 4,050 4,050 (Approx. SF) Structure: Available Air Rights: 5,388 5,420 (Approx. SF)

Assessment (18/19): $395,280 (Tax Class 4) Taxes (18/19): $41,560

Cushman and Wakefield has been retained on an exclusive basis to arrange the sale of 121 Division Street, a mixed use building between Orchard and Ludlow Street, NYC. The building has a new restaurant on the ground floor and 2 floor-through units above. The retail tenant is Kiki’s, a popular neighborhood restaurant (original location across the street) (LXP 2026). The 2nd floor is a 2 bedroom, 2 bathroom unit, with exclusive backyard access, which will be delivered vacant at closing.

ALLEN STREET The 3rd floor is a gut renovated apartment designed and remodeled by famous designer Peter McGrattan in 1996 and was featured in the magazine “Home & CANAL STREET ORCHARD STREET Garden”. All units have separate on-floor mechanicals with heat/hot water/ electric separately metered.. There are approximately 5,400SF of air rights intact.

LUDLOW STREET The subject shares the block with many neighborhood staples including DIVISION STREET dozens of popular galleries, fashion retailers, coffee shops, modern restaurants

RUTGERS STREET in addition to the Lower East Side Business Improvement District’s office/ 88 center. Furthermore, it is located just a block from the historic Jarmulowsky 283 Bank Building , which is in the process of being converted to a hotel. This is

PIKE STREET an exceptional opportunity to live and invest in one of the Manhattan’s most exciting and charming up and coming neighborhoods. EAST BROADWAY

CUSHMAN & WAKEFIELD / 1 121 DIVISION ST NEW YORK, NY FINANCIALS COMMERCIAL REVENUE Unit Floor SF Price/ SF Lease Expiration Monthly Rent Annual Rent

Restaurant Ground 1,080 $120 2026 $10,800 $129,600 Total: $10,800 $129,600 Retail tenant pays 40% RE taxes increases over base year 2015/2016 RESIDENTIAL REVENUE Floor BR SF Price/ SF Lease Expiration Monthly Rent Annual Rent

2 2 BR 1,150 $75 $7,200 $86,400 3 1 BR 1,250 $56 M-M $5,863 $70,356 Residential Total: $13,063 $156,756

GROSS INCOME: $23,878 $286,536 *Permit and plans to change 2nd floor to residential are in progress and can be delivered at closing. Minimal work required. Projected. Delivered Vacant

R D D E

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T E P E T Y YSTIE STREET T T

GE ST. TREET STREET EET

T E T LACE . TH STREET ESTIMATED EXPENSES: SPRING STREET

en mare DELANCEY STREET Real Estate Taxes (18/19): $41,560 K KENMARE STREET F BROOME STREET Park M

ary’ s St. M rch Heat/ Hot Water: Submetered $- R.C . Chu

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T E STRE NTRE CE MOTT ST. ELIZABETH ST. CENTRE MARKET PL. MULBERRY ST. r D Lowe GRAND STREET P Eas t d Water/Sewer: $3,200 id e Sewar S ark P s House GRAND ST.

Littl e d Electric: Common Area $1,000 Sew ar MONTGOM y ark Ital P s House

N 4 rd ER Insurance: $4,050 J Sewa EAST BROADWAY Par k CLINTON STREET HOWARD STREET HESTER ST. B Repairs and Maintenance: $2,000R 5 F HENRY STREET Z JEFFERSON STREET ST aus s ur F Str are ne Squ er al MADISON D uv Management: (3%) $8,344 Go spit Q o CO 6 CANAL STREET H L

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

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MARKET STREET BENSON PLACE BENSON F amil y RUTGERS SLIP Cou rt C DOYERS ST. 121 DIVISION ST Pa o PELL STREET l Proj. Gross Annual Income: $286,536 um r k b u DIVISION STREET s CATHERINE LANE Departm ent of He alth & MOSCO ST. Real Estate Tax Reimbursement: $2,373 Hospitals Chatha m EAST BROADWAY

WORTH STREET Squa re CATHERINE STREET PIKE SLIP

T E STRE NTRE E C M9 LAFAYETTE STREET . CARDINAL HAYES PL. n J Ki mla a Vacancy & Credit Loss (3%): $8,596 Th oma s u HENRY STREET oh ul e Squa OLIVER STREET J m r STREET Pa ine Fole y Squ are re ua La q Pa rk HAMILL PL. Courtho use S

MADISON STREET er ck Expenses: $60,406 PEARL STREET KENT PL. erbo

EET DUANE STREETE e

L ick JAMES STREET n g K M22 K a

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

R s M u Net Operating Income: $217,534 EET o PE a r Fole y th k r ARL S e u Sq uar e o t St Sl R . C i ID P . p l A .S T ET GE a U ERRY STREET E H RE

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MEI LING WONG ANDREW T. BERRY BRYAN F. HURLEY Senior Managing Director Director Director Associate (212) 660 7772 (212) 660 7716 (212) 589 5124 (212) 660 7706 [email protected] [email protected] [email protected] [email protected]

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.