45 Beekman Street, New York, NY 10038

Financial District, New York, New York 10038

Listing ID Number

25158

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 45 Beekman Street, a turnkey mixed-use asset located between William and Gold Streets on the south side of Beekman. The 5-story 8 unit walk-up has been meticulously redeveloped into seven 2-bedroom residential units and one 3-bedroom duplex, with a spacious private outdoor deck. The building also includes a shared roof-top amenity space for tenant use, plus one retail space. The retail tenant’s lease runs through January 2027 paying $15,000 per month with 3% annual increases. The residential tenants have short-term leases expiring in 2018. Total in-place net operating income of approximately $500,000 is projected to increase to $600,000 in summer 2018 when current residential tenants renew or turn over and the retail rent accelerates. The property delivers the bonus of approximately 13,500 square feet of valuable development rights that will inevitably be in demand for a future development project on the block. In summary, 45 Beekman Street represents a rare, turnkey income-producing multi-family investment opportunity in one of the most exciting emerging FiDi sub-markets

Overview

Building Type:Mixed-Use Investment Buildings

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

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

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

Sean Rucker
Senior Associate
(212) 589 5113
sean.rucker@cushwake.com


Property Images

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Property Map


Aerial View


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.