Description

MuNew York City - Tribeca Portfolio - Discounted by $6M - Great Investment - Open

Property #1 on Franklin Street
Offer Price: $25,000,000
· Raw land – two adjoin triangular shaped lots
· Comes with approved condo plans

Property #2 on Franklin Street
Offer Price: $18,250,000
· Lot Size 25x100
· has elevator
· 2nd, 3rd, 4th floors - office tenants short term (1-2 years) and easily relocated
· 5th floor - one residential unit, owner occupied and will vacate on or before closing.

Property #3 on Franklin Street
Offer Price: $14,000,000
· Lot Size 25x100
· 3rd floor (front unit) office - 1 more year
· 3rd floor (back unit) residential - (owner’s grandson lives rent-free and vacates on or before closing)
· 4th floor tenant office -1 more year
· 2 residential floor-through apts. on 5th and 2nd floors both vacant now
· One retails is going into the 3rd year with 10 year lease ...that has a provision of buyout in 5th year (July 1, 2019) for $500k plus $200k build out reimbursement

Property #4 on Franklin Street
Offer Price: $13,750,000
· Lot Size 25x100
· ground floor vacant
· 2nd floor vacant (owner’s son lives there and vacates on or before closing)
· 3rd floor vacant by August 30, 2016
· 4th floor vacant by Feb 28, 2017
· 5th floor already vacant

Previous Asking Price = 71M plus 2% ($980/sq ft)
New Asking price 65M plus 2%, Firm ($880/Sq ft)
Buyer may choose to purchase the revenue assets (property #2, #3 and #4) for $45M + 2% Firm

Contact us for details

Posted Sep 22, 2016

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