(212)300-3919

lukec@remax.net

69471690

BUILDING: 281 GRAND STREET

  • 00 Sq Ft
  • Furnished
  • Mortgage
Building
$16,000,000

281 GRAND STREET Luke Constantino

Offered at $16,000,000

Description: Circa 1900—Gut renovation/new C of O in 2001. 5 story walkup

w/store: 8 large loft-style apartments between 12,000 and 16,000 sq/ft. Store

appox. 23,000 sq/ft with additional basement storage

· Block and Lot: 306/19

· Size 125X25

· Zoning: C6-1G

· FAR: 6.2

· Previous sale in 2007: $12,200,000 US

ONE OF THE MOST ATTRACTIVE LOCATIONS IN NYC

The lower East Side/ East Village is going through a large resurgence due to its convenience and location.

“Essex Crossing” a 1.65-million-square-foot development anchored by 1,000 units of housing and multiple businesses/stores will be one of the city’s biggest developments plans to date a few blocks away.

The loft style apartments are in exceptional condition, each one being its own entity, having heat and hot water units, washer/dryers and dishwashers.

Building is also zoned for condo conversion.

 

 

Subways

B & D at Grand St (under 500 feet)

J & Z at Bowery (0.2 miles)

F, J, M, and Z at Delaney St-Essex St (0.3 miles)

F train at East Broadway (0.4 miles)

6 train at Spring St (0.4 miles)

J, N, Q, R, Z and 6 at Canal St (0.5 miles)

N and R train at Prince St (0.5 miles)

Pictures of all of the apartments:

 69444546 69444551 69444555 69444559 69444569 69444583 69444594 69444602 69447213 69447221 69447240 69449046 69471690 69472030 70404489 70404495 70404557

 

Subways

B & D at Grand St (under 500 feet)

J & Z at Bowery (0.2 miles)

F, J, M, and Z at Delaney St-Essex St (0.3 miles)

F train at East Broadway (0.4 miles)

6 train at Spring St (0.4 miles)

J, N, Q, R, Z and 6 at Canal St (0.5 miles)

N and R train at Prince St (0.5 miles)

Unit Monthly Rent Annual Rent Expiration

Retail $15,000 $180,000 9/30/2024

2F $5,500 $66,000 8/30/2015

2R $5,500 $66,000 8/30/2015

3F $7,100 $46,800 8/30/2015

3R $5,000 $72,000 8/30/2015

4F $5,000 $60,000 8/31/2015

4R $4,800 $60,000 8/31/2015

5F $7,000 $94,400 6/1/1/4

5R $7,500 $90,000 6/12/2014

Total: $62,400

Yearly: $735,200

Income

Retail $180,000

Residential $555,200

Gross Income $735,200

Operating Expenses

Real Estate Taxes $120,000

Water $12,575

Electric $2,000

Super $2,000

Management 4% $29,408

Repairs $8,000

Total Operating Expenses $173,983

Net Operating Income $561,217 [less]

Building to be delivered vacant.

 

Feel free to call or text me at (212) 300-3919


Agent Info:
lukeconstantino@fillmore.com'

Mobile: (212)300-3919 Office: (718)748-3331

Click here for Questions / Appointments