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Listing Description
The subject property is a five-story mixed-use building, located on the west side of Eldridge Street, between Grand and Hester Streets. This 7,000 SF building consists of 2 ground floor retail units and 11 residential units above. The retail units are occupied and benefit from tall ceiling heights, exposed brick and additional storage space in the basement (both retail units have their own sidewalk basement hatch
/door). Of the residential units, #2, #3 and #4 were recently renovated. Unit #3 is vacant. There is no Certificate of Occupancy on file although I-Cards exist (available upon request or through HPD). The DHCR’s have not been filed since 1998. The building benefits from great light and air considering there are air shafts to the north and south as well as a 10’ rear yard. There is a newer gas boiler in the basement and the gas meters are located in the apartments. This offering provides an excellent opportunity for an investor looking for upside while the existing tenancy is averaging close to $1,400 a month. Area neighbors include the Milton Resnick & Pat Passlof Foundation at 87 Eldridge Street, James Cohan Gallery at 291 Grand Street, HSBC, Bowery CrossFit, Valley National Bank, TD Bank and the B & D Grand Street subway stop. Any sale shall be on an as-is, where-is basis only.
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