77 Bowery - Loft/Creative Space CONDO FOR SALE


New York, NY 10002- Chinatown
$15,300,000 USD
917-539-0402
77 Bowery, New York, NY for Sale
$15,300,000 USD
Loft/Creative Space CONDO - FOR SALE
1/7
null | 6% Cap Rate

77 Bowery
New York, NY 10002
Chinatown


HIGHLIGHTS

  • Net-Leased Retail Condominium Located at the Base of a Nine-Story Office Building at Bowery and Canal Street in Chinatown
  • 100 Percent Leased to East West Bank Through December 2032, Featuring an Investment Grade “BBB+” Rated Tenant with Strong Financials
  • High-Performing Branch with Approximately $788 Million in Deposits, Ranking Among the Top Deposit Locations Nationally
  • NNN Lease Structure with Tenant Responsible for 100 Percent of Expenses Including Taxes and Maintenance
  • Prime Lower Manhattan Location Adjacent to the Manhattan Bridge and Surrounded by Dense Retail and Pedestrian Traffic

OVERVIEW

The offering consists of 3,716 square feet on the ground floor, 2,026 square feet on the mezzanine level, 3,815 square feet on the lower level, and 4,040 square feet in the cellar. The lower-level houses East West Bank’s massive vault and safety deposit boxes. This is an opportunity to acquire a minimal management net-leased asset secured by one of the highest deposit locations in the country for an investment-grade rated tenant. East West Bank is responsible for 100 percent of all expenses here, including all real estate taxes and maintenance charges. The site is in the heart of Chinatown, directly off the entrance to the Manhattan Bridge, and surrounded by national and local retailers in every single direction.

FOR SALE DETAILS

PRICE

$15,300,000 USD

PRICE/SF

$1,125 USD /SF

CAP RATE

6%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NNN Bank - NYC $788M in Deposits

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

ADD'L SUBTYPES

Bank, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

44,673 SF

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

C6-1G

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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Scott PlaskyMarcus & MillichapMore Info
917-539-0402

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.