80 John Street - Retail

Financial District, New York., New York 10038

$13,000,000   $12,500,000  

Listing ID Number

24931

Property Description

Two retail condos at the base of The South Star, a luxury Art Deco 145 unit condo building located on the western block front of Gold Street from John Street to Platt Street. One of the retail units (lot 1001) is an in-line 1,639 SF space with 20' of frontage on John Street. The unit is leased to Dunkin Donuts until December 2024 who pays $15,000/Month, or $110 per SF and reimburses for 100% of the RE taxes over base year 2014/2015 for the unit. The other unit is an expansive vacant corner space (lot 1002). Formerly occupied by a gym, the space is ADA compliant, and features 15' ceilings, limited use restrictions, ability for awning and blade signage, and 242' of wraparound frontage on John, Gold, and Platt Streets. The units are located in the heart of the Financial District where 2016 annual spending hit $7.1 Billion and 14.2 Million visitors take in the district on an annual basis. It is just around the corner from the Fulton Center which opened in 2016 connecting nine subway lines and servicing over 300,000 daily riders making it one of the busiest stations in all of Manhattan. Neighboring restaurants and retailers include Stout, Citibank, HSBC, Starbucks, Crunch Fitness and Jubilee Market Place. This is a rare opportunity for an investor to acquire two retail condos with in-place income and significant upside in leasing the expansive corner space.

Overview

Building Type:Commercial Condo/Co-op

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

James P. Nelson
Vice Chairman
(212) 660 7710
james.nelson@cushwake.com

Guillermo Suarez
Senior Director
(212) 660 7753
will.suarez@cushwake.com

Carly Weinreb
Senior Associate
(212) 589 5114
carly.weinreb@cushwake.com

Maurice Suede
Associate Director
(212) 589 5131
maurice.suede@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.