Newly Constructed Commercial/Community Facility Condominium Unit
$3,100,000
70 Schermerhorn Street, Bronx, NY 11201
153,445
NOI
2,921 sqft
Combined Unit Size
Details:
Description:
1st year NOI is approximately $152K. The initial lease term is for 10 years with 1 option to extend for an additional 5 years. The lease has annual escalations of 1.025%.
The property is located in Brooklyn Heights, one of the most desirable locations in all of NYC. More than 10,000 residential units have been added within a 1 mile radius over the past 10 years and there are more than 7,000 residential units under construction within a 1.5 mile radius.
Located a short walk from Downtown Brooklyn’s main civic center, which includes Brooklyn’s Borough Hall, there is more than 2 million square feet occupied by more than 100,000 office workers within a 5 block radius. Also at the Borough Hall Station are multiple subway lines including the 2, 3, 4, 5, and R trains. The surrounding area is also home to St. Francis College, NYU Tandon School of Engineering and the New York Marriott at the Brooklyn Bridge.
The condominium unit at 70 Schermerhorn St offers investors the opportunity to acquire newly constructed space in this highly sought after supply constrained market. Please contact us for more details.
Documents:
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70_Schermerhorn_Street_Setup.pdf
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Location
Gallery
