Stefania Cardinali - Commercial Real Estate Showcase

Stefania Cardinali Property Listings
Associate RE Broker
Corcoran Group Real Estate
49 E 10th St
New York, NY 10003-6153


DetailMap
418 E 115th Street

New York, NY 10029 - Harlem/North Manhattan Submarket


Property Type:Flex Sub Type:Light Manufacturing Status:Existing Year Built:1900
Building Size:9,700 SF Land Area:.06 AC (2,522 SF)
Ceiling Height:- Loading Docks:1 ext Rail:- Power:-
For Sale Price:$3,800,000 Price/SF:$391.75
Cap Rate:-
Zoning:R7B Sprinklers:- Drive Ins:No Cranes:-
Parking:1 Surface spaces are available; Ratio of .11/1,000 SF Amenities:Commuter Rail, Metro/Subway
9,700 SF is available to occupy upon purchase.



Sale Notes:
418 is set on the south side of East 115th Street between Pleasant and First Avenues in a favorite Manhattan enclave which boarders East River and its FDR Drive, Thomas Jefferson Park, Randall’s Island and East River Plaza. Convenient to key highways and bridges and easily accessible via public transportation as there are few bus lines routing the area, the Metro North, and the 6 subway line on 116th Street and Lexington Avenue. The location will also benefit from the approved 116th street stop for the Second Avenue Subway. As for shops, amenities, famed and newly established restaurants there are plenty. Like owner Pat from the uber local Love Café says: “this has always been like a real neighborhood!”

Built in 1900 and evidenced by its alluring façade 418 East 115th Streets history tells that it began as a horse stable and in later years had utilizations for brewing and tile manufacturing. In today the vacant property hands over distinctive potential and opportunity in its transfer. Assume sundry uses, with alteration and/or conversion any transformation could yield an excellent asset. At present the structure holds a one unit commercial CO (three floors + basement) with a F5 Building Class (Factory-Light Manufacturing). That said the building is situated on a prime R7-B block. To a mixed use-opportunist this is an excellent prospect in terms of maximum ability. The property has DOB approved plans for this development (commercial on the ground level and basement and residential on the second and third floors), and as the property is zoned residential as of right making full inhabited use of the building is also a probability. Opportunities for investment or end use are of a live/work place, residential, and/or commercial alternative. The total measured space that is now built and bare is approximately 9,700 square feet. 7,275 sqft above grade with 11 to 13 feet ceilings plus a 2,425 sqft functional basement with 8-9 feet ceiling height. Still in-tact is the original elevator shaft, skylight, windows, shutters and doors, enough of the earliest architectural details and lofty full floors built 25ft x 97ft where on the upper levels you will be surrounded by sundry windows. In addition to its main entrance there is a loading dock and private curb cut at the building’s frontage. With a maximum FAR of 3 though only built at 2.88 a petite rear and roof span right may add to its measure.

Corcoran Group Real Estate
Stefania Cardinali
(212) 253-0100




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