54 Crosby StNew York, NY 10012

Property Details for 54 Crosby St

Year built

1900

Lot size

0.05 AC

Property size (Sq ft)

6,000 SF

Zone code

M15R9X

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

00483-0029

APU

4830029

Description

This unique SoHo full-building lease opportunity presents a dynamic, raw space with significant potential. Formerly the studio of renowned artist Arturo di Modica, this multi-level property offers a truly inspiring environment. A dramatic 30-foot high skylight floods the interior with natural light, complementing the multiple balconies and expansive multi-story facade windows. The building's classification is Class B, and it was originally constructed in 1900. The property is suitable for a variety of uses, including traditional and creative office spaces, and arts-related businesses. Tenant improvement (TI) allowances are available. The building's layout is ideal for maintaining social distancing, offering ample space for a comfortable and safe workspace. Lease terms are flexible, with options for both short-term and long-term occupancy, including three-year and longer leases. A discount is offered for one-year prepaid leases with co-publicity. The asking price is available upon request, and viewings are encouraged. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,230,054

  6.5%

  $1,135,435

  7%

  $1,054,332

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,215,138

  Geo Method

  $1,215,138

• Alternative Use

  Use

  Valuation

  Residential

  $1,135,435

  Hospitality

  $1,040,052

  Educational

  $865,311

  Medical

  $895,070

  Retail

  $1,346,040

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7222

Longitude

-73.9987

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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