Fantastic Investment Opportunity !

Highlights:

• Commercial Coop Unit - Ground Floor + Basement Retail
• Quality Tenant: Haute Living - NY Office-Show Room
• Long-Term Double Net Lease - 2.5% Annual Increase
• Proforma NOI : $350,548
• Unit Gross SF: 8,000 (Approx.)
• Three Street Entrances - over 100' Frontage
• 14 ft. ceiling on the ground floor; updated kitchen and bathroom

Description:

Fantastic investment opportunity!

This accessible commercial coop unit on the ground floor has over 100 feet of frontage and three street entrances. The space benefits from immense 14 ft. ceilings, a vast interior, and spacious windows allowing for great natural lighting throughout the day. This floor is also fully equipped with its own kitchen and bathroom. The basement space is further expansive being approximately 4,000 sq ft and can be utilized as a show room that includes a small office.  The entire unit (ground floor and basement) is rented by Haute Living, LLC. and is being used as its NY office and showroom. Double net lease - valid until 2034, with the tenant's extension option - lease ends n 2037. Current rent is $43,076 / month ($516,912 / year), with 2.5% annual increase. Projected NOI:  $350,548 

Convenience is key to this unit. The space’s prime location on W 17th Street between seventh and eight avenues, serves as the next extraordinary commercial loft property opportunity in the lively Chelsea neighborhood. Near distinguished landmarks such as the vibrant Chelsea Market, High line, and the Hudson River park coupled with rich galleries in the area, the neighborhood offers a thriving art scene, breathtaking skyline views, and green spaces appreciated in the city. It is also within close proximity to the bus or train being 5 minutes away from the nearest station and, overall, it serves as a convenient unit near transportation and diverse neighborhood hotspots that can’t be missed.

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