Logo, LAURIE BRANT REALTY - Real Estate Broker



(212) 685-4810
New York, NY 10014

                                        

For Sale: 220 West 16th Street (7th & 8th Avenues) NYC, NY

             










In the heart of coveted Chelsea residential block with restaurants and stores between 7th & 8th Avenues.  Ideal for Gallery, Bar. etc.  **Commercial Lease expires 10/31/2017. Formerly 20/20 Gallery. A  25 x 20 foot extension can be added to rear of building to increase commercial space.   Please view renderings above for suggested bump out of commercial space.

5 Story mixed usage building with commercial space, rear courtyard.  8 one-bedroom units.  5 free market - 3 rent** stabilized.  F.A.R:  4074 sq. ft. Gross area square footage 6275. 

Recent Upgrades:

  • Burnham 5008N gas boiler
  • Water heater
  • Roof
  • Upgraded electrical wiring though out building

Block: 765     Lot:  55

Assessed Valuation:  3,530,000     Land: 57,780

Zoning:  R & B District, Tax Class 2B

Size of Plot:  25 x 103.25 building 50 deep

Current Rent Roll: $279,239  Projected Rent Roll: $420,496

Expenses:

  • Water & sewer                                   3,650
  • Real Estate Taxes                             45,731
  • Payroll (visiting Super)                       6,000
  • Utilities (Gas & Fuel)                        10,400
  • Insurance (casualty, liability, etc.)      15,400
  • Repair & Maintenance                        4,500
  • Management                                     14,035

Expense Total:                                       $99,716

Price:  8,000,000

Exclusive: Laurie Brant Realty 212 685-4810 / 917 868-4318

**Additional information upon request

Disclaimer:  All information is from sources deemed reliable but is subject to errors, omissions, change of price,  prior sale, withdrawal without notice.  No representation or guaranty is made as to the accuracy of any description.