385 Greenwich St
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385 Greenwich St
6,624 SF 100% Leased Retail Building New York, NY 10013 For Sale
Executive Summary
JLL has been retained on an exclusive basis to arrange for
the sale 385 Greenwich Street (“The Property”), a 4-story,
100% Free Market and tax class protected building in the
heart of Tribeca. The Property features (3) apartments over
(2) stores with 95’ of wraparound frontage on the corner of
North Moore and Greenwich Street. Purchasers will benefit
from a strong combination of retail & residential income
streams with the potential to un-lock additional value.
The current 6,211 square foot building features (3) full-floor
residential units above two (2) ground floor commercial
units. The Property’s corner positioning provides excellent
light & air with unobstructed views of the Hudson River from
the upper floors. It may be possible for future ownership to
create outdoor spaces offering residents greater access to
these rare views.
The two (2) ground floor commercial spaces are leased to
Yves (~1,000 SF), a popular French restaurant that has been
labeled as the best view for water and people watching in
Tribeca and Smith & Mills (~400 SF), a quaint bar serving
small plates and classic cocktails. Both commercial spaces
have leases in place until 2025.
The residential unit are comprised of (3) Free Market
apartments; two (2) flex 4-bedrooms and one (1) 2-bedroom.
The apartments contain individual HVAC systems whose
operation are a responsibility of the tenants, tall ceilings,
in-unit washer/dryers, and modern features.
In terms of connectivity to the rest of the city, the nearby
Franklin Street subway provides access to the 1 subway
line and the Canal Street station to the northeast services
the A C E trains. For those who prefer biking, there
are ample Citi Bike stations are conveniently located
throughout the neighborhood. Tribeca offers easy access
to major highways and tunnels, making it convenient for
those commuting by car or traveling to other boroughs or
New Jersey.
385 Greenwich will appeal to purchasers seeking a low
maintenance, well-located property with strong income
and excellent long term value potential. Additionally,
The Property’s protected tax class, individual heating
systems and exemption from rent regulation will limit
expense growth and maximize future returns. Ownership is
separately offering 90 Nassau Street for sale.
the sale 385 Greenwich Street (“The Property”), a 4-story,
100% Free Market and tax class protected building in the
heart of Tribeca. The Property features (3) apartments over
(2) stores with 95’ of wraparound frontage on the corner of
North Moore and Greenwich Street. Purchasers will benefit
from a strong combination of retail & residential income
streams with the potential to un-lock additional value.
The current 6,211 square foot building features (3) full-floor
residential units above two (2) ground floor commercial
units. The Property’s corner positioning provides excellent
light & air with unobstructed views of the Hudson River from
the upper floors. It may be possible for future ownership to
create outdoor spaces offering residents greater access to
these rare views.
The two (2) ground floor commercial spaces are leased to
Yves (~1,000 SF), a popular French restaurant that has been
labeled as the best view for water and people watching in
Tribeca and Smith & Mills (~400 SF), a quaint bar serving
small plates and classic cocktails. Both commercial spaces
have leases in place until 2025.
The residential unit are comprised of (3) Free Market
apartments; two (2) flex 4-bedrooms and one (1) 2-bedroom.
The apartments contain individual HVAC systems whose
operation are a responsibility of the tenants, tall ceilings,
in-unit washer/dryers, and modern features.
In terms of connectivity to the rest of the city, the nearby
Franklin Street subway provides access to the 1 subway
line and the Canal Street station to the northeast services
the A C E trains. For those who prefer biking, there
are ample Citi Bike stations are conveniently located
throughout the neighborhood. Tribeca offers easy access
to major highways and tunnels, making it convenient for
those commuting by car or traveling to other boroughs or
New Jersey.
385 Greenwich will appeal to purchasers seeking a low
maintenance, well-located property with strong income
and excellent long term value potential. Additionally,
The Property’s protected tax class, individual heating
systems and exemption from rent regulation will limit
expense growth and maximize future returns. Ownership is
separately offering 90 Nassau Street for sale.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,624 SF
Building Class
C
Year Built
1920
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
4.00
Lot Size
0.04 AC
Zoning
M1-5 - Light industrial with offices, hotels, and most retail uses permitted
Amenities
- Bus Line
- Metro/Subway
Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (91)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0188-0009 | Improvements Assessment | $56,782 |
| Land Assessment | $1,584,000 | Total Assessment | $359,622 |
PROPERTY TAXES
Parcel Number
0188-0009
Land Assessment
$1,584,000
Improvements Assessment
$56,782
Total Assessment
$359,622
Contacts
-
Jonathan Hageman -
Hall Oster -
Clint Olsen -
Teddy Galligan -
Jacob Russell -
Kevin Campfield -
JLL
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385 Greenwich St
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