Prime East Village Retail Opportunity w/ Value-Add Potential + Air Rights

Description:

Ariel Property Advisors presents 109 East 9th Street, a unique mixed-use investment opportunity on the north side of East 9th Street between Third and Fourth Avenues in the heart of Manhattan’s East Village.

The property is improved by 5-story, 30’ wide, 6,260 sq. ft. (approx.) walk-up building that contains 1 retail unit and 13 SRO units. The retail unit, which currently operates as a restaurant and will be delivered vacant, spans the entire ground floor, the entire basement and most of the second floor. Equipped with 2 full bars, a fully operational kitchen and 5 bathrooms, the retail space is in turnkey condition allowing for immediate use for a bar/restaurant space or investors can take advantage of the flexible layout for alternative use. The property’s 13 SRO units occupy space on the second, third and fourth floors. Four of these SRO units will be delivered vacant. Future development or air rights sales may be a consideration given the property’s C6-2A zoning (FAR:5.4 base residential, 6.0 commercial, or 7.2 w/ inclusionary housing).

The offering also includes a 7.5’ wide alleyway that runs along the west side of the building that is subject to an easement with a neighboring property, while also serving as a fire exit for the restaurant space. Please inquire for more details.

109 East 9th Street sees tremendous foot traffic and has outstanding retail potential because of its central location among the East Village’s most significant educational and cultural institutions. New York University, Cooper Union and the Manhattan campus of St. John’s University Law School are all steps away from the building. The property is further enhanced by the many performance theaters, parks, movie theaters, comedy clubs, boutiques, bars and diverse dining options that surround it. Transportation is easily accessible via the 6/R trains that are around the corner, as well as Union Square station and the Houston Street F train that can both be reached in under 15 minutes by foot.

Offering a prime retail opportunity and future value-add potential, 109 East 9th Street represents a premier Manhattan opportunity for owner-users and investors

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