Connected Realty Group

Web id#:691865

Specific Location: Broadway Soho
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Posting Headline:

Prime Commercial building in the best block in Soho

Posting Description:

Great looking and well maintained building located in the best block in soho Broadway between prince and spring, the building is fully rented. There is none of rent control tenant or rent stabilized. all the tenant are triple A tenants All leases are below market rent value specially the ground floor the current lease is about $175/psq in that area you can rent for $300+ per sqf.this is the best block in soho.

Asking rents for ground-floor space on Broadway (in Soho) average $282 per foot, and can go as high as $400 a foot, according to Cushman & Wakefield.

As of now to building gross 1.1 million.

After expenses the building cap is around 2%

This building is best suited for a $50,000,000 1031 will make it easy to carry the the building until leases renewal. Leases will be expired in the next 4-6 years.

We will give you more info only upon NDA and our due diligence if you capable to anticipate in this kind of transaction. Principals Investors only.

Ilan Benshosan
Fax:212 213 5503
Mobile:917 957 6174

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Listing details
Web id#: 691865
Price $50,000,000
Size: 26000
All information furnished is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and is submitted subject to errors, omissions, changes of price or other conditions, prior sales, or withdrawal without notice.
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