0 60Th StNew York, NY 10022

Property Details for 0 60Th St

Property size (Sq ft)

2,008 SF

Property type

Retail properties

Property subtype

Other 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

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7616

Longitude

-73.9642

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