60Th St New York, NY 10022
- Retail properties
- 2,008 SF
Current Use by Public Records
- Retail properties
Property Details for 0 60Th St
- Property size
- 2,008 SF
- Property type
- Retail properties
Description
This exceptional retail building, located in the desirable Lenox Hill neighborhood of New York City (zip code 10022), near Bloomingdale's, presents a lucrative investment opportunity. The property, situated on East 60th Street, boasts a total of 2,008 square feet across four floors, with dimensions of 20 ft x 49 ft on a 20 ft x 100.42 ft lot. The building is currently vacant but offers significant income potential. Financial projections indicate a potential annual income of $378,000, with a projected net income of $259,640 and a 4.90% cap rate. The first floor is ideal for retail use, while the second floor is currently configured as an office. The third and fourth floors each offer three bedrooms. The building features renovated plumbing and electrical systems. Annual expenses are estimated at $118,360, encompassing real estate taxes ($110,000), hot water and hallway lighting ($960), insurance ($5,000), and superintendent fees ($2,400). Tenants are on month-to-month leases, allowing for flexible occupancy. The asking price is $5,500,000, translating to $2,739.04 per square foot. Some air rights are available. The property can be delivered vacant or with existing tenants
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9642
- Latitude
- 40.7616
