14 N Broadway & 18 Hamilton Place - Sale OR Lease

Westchester County, Tarrytown, New York 10591

$2,950,000   $2,650,000  

Listing ID Number

24782

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale or lease of 14 North Broadway & 18 Hamilton Place, a 3 building corner mixed-use property located a short block north of Main Street in downtown Tarrytown.

14 North Broadway is located on the southeast corner of North Broadway and Hamilton Place and is comprised of a grand 3 story prewar building and a modern, yet contextually designed, annex building (12 Hamilton Place). The buildings are partially interconnected, in turn-key condition and combine for approximately 5,052 square feet which can be delivered vacant. The property lies within the Tarrytown Restricted Retail zoning district which allows for a wide array of uses. The buildings have been very well maintained and could be kept in their current condition for use as office space, or converted to a combination of retail, community facility and residential use. Prevailing office rents in the surrounding market range from approximately $30-$35 PSF.

18 Hamilton Place is a fully occupied two family home that sits on the adjacent lot. Both units are currently leased; unit 1 through 6/30/17 for $3,250 per month and unit 2 through 11/30/16 for $3,400 per month. The house has been well maintained and provides tenants with ample outdoor space, storage, and a pedestrian lifestyle due to its proximity to Main Street and the Metro North.

The buildings share 29 parking spaces (27 and 2 handicapped spaces), the bulk of which are located on the 18 Hamilton Place tax lot, but are currently being used as parking for 14 North Broadway and 12 Hamilton Place.

As a package the buildings will appeal to a wide array of buyers including purchasers seeking a low maintenance investment with a diversified stream of income, office or retail end-users interested in tapping into the vibrancy of downtown Tarrytown, and residential buyers coveting a live plus income opportunity.

Overview

Building Type:Mixed-Use Investment Buildings
Location:Located atthe southeast corner of North Broadway and Hamilton Place
Section/Block/Lot:1.80/41/12, 13
Zoning:RR - Restricted Retail
Building Sq Ft:7,334

Contact

For further information or inspection, please contact Exclusive Agents:

William Eisenhut
Director
(212) 660 7768
bill.eisenhut@cushwake.com

Hall Oster
Senior Managing Director
(212) 660 7723
hall.oster@cushwake.com

Teddy Galligan
Associate Director
(212) 589 5137
teddy.galligan@cushwake.com


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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.