114 Delancey StNew York, NY 10002

Property Details for 114 Delancey St

Year built

1997

Lot size

0.15 AC

Property size (Sq ft)

23,040 SF

Zone code

C62A

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

00410-0064

APU

4100064

Description

This exceptional mixed-use property at 114 Delancey Street in New York City's vibrant Lower East Side offers a compelling investment opportunity. The three-story, 26,000 square foot building boasts 26,433 square feet of net rentable space and an impressive 16,000 square feet of available air rights. Built in 1997 and zoned C6-2A, the property features six commercial units, including a McDonald's (a national credit tenant with a lease extending to 2036 occupying 6,455 square feet), a bar and entertainment venue (4,960 square feet), and a smoke shop (420 square feet). There is also a vacant retail space (2,298 square feet) and a significant amount of vacant office space (12,300 square feet) across the second and third floors, presenting substantial potential for future income generation. The building enjoys prominent frontage on Delancey and Essex Streets (65' and 100' respectively). Its location directly across from the Essex Crossing development, a large mixed-use complex including Trader Joe's, Target, and Regal Cinemas, ensures high visibility and foot traffic. The property's diverse tenant mix, strong anchor tenant, and substantial air rights potential combine to create a truly unique investment opportunity in one of Manhattan's most sought-after neighborhoods. The asking price is $30,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,723,408

  6.5%

  $4,360,069

  7%

  $4,048,636

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,666,130

  Geo Method

  $4,666,130

• Alternative Use

  Use

  Valuation

  Residential

  $4,360,069

  Hospitality

  $3,993,800

  Educational

  $3,322,795

  Medical

  $3,437,071

  Retail

  $5,168,792

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7189

Longitude

-73.9883

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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