СОВРЕМЕННЫЕ АПАРТАМЕНТЫ ДЛЯ АРЕНДНОГО БИЗНЕСА

СОВРЕМЕННЫЕ АПАРТАМЕНТЫ ДЛЯ АРЕНДНОГО БИЗНЕСА

Condo Sale Price: $5,500,000
Unit SF: 5,315 SF
Price/SF: $1,034.81
Cap Rate: 5.27%
Building Size: 75,623 SF
Land Area: 0.13 AC

Апартаменты на первом этаже

Investment Notes:
The unit is located on the ground floor of The Sutton 57 condominium
building, in the heart of Midtown East on East 57th Street between Second and Third Avenue. Built in
2006, this location benefits from the nearby Design & Decoration building and district and sits at the
beginning of the high density retail location, anchored by Bloomingdale’s and Home Depot. Currently
occupied by ILIAD Antik, the unit is used as a showroom space which encompasses the ground floor
and lower-level. The lease extends to 2019, and has rent escalations of 10% every three years,
allowing for substantial income growth over the remainder of the lease. Additionally, the tenant is
paying a substantial portion of the real estate taxes and common charges as additional rent. The net
operating income is approximately $289,991.
This is an ideal property for an investor looking for strong, in-place income with minimal management
or potential future home of other retailers catering to decorators and designers. Call for more details.