Broad Street Plaza | 43-53 Broad St
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Broad Street Plaza 43-53 Broad St
13,400 SF 94% Leased Retail Building Online Auction Sale Staten Island, NY 10304
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Investment Highlights
- Incredible mixed-use development consisting of retail, apartments, office space, and garages consciously built with tenants in mind.
- Opportunity to invest in Staten Island's growing Stapleton area 2 miles from the Staten Island Ferry, and even closer to the Verrazano Bridge.
- Perfectly perched near the bustling intersection of Broad Street and Bay Street, which sees over 14,000 vehicles per day.
- Tremendous on-site upside potential as the property has a tax abatement until 2038, perfect for savvy investors.
- Close distance to Bay Street, which offers shopping, fine dining, public transportation, parks, Urby, and more.
Executive Summary
43-53 Broad Street presents a tremendous investment property in the booming Staten Island. Built in 2014, the portfolio includes 20 total units with eight apartments split into one- and two-bedrooms, six retail storefronts, two offices, and four garages. The property was built with both the tenants and ownership in mind. The entry to the apartments is in the rear of the building on Thompson Street, allowing retail and residential tenants to operate independently and adding privacy and security for all parties. All units are also conveniently individually metered. A tax abatement until 2038 maximizes the investor's potential for profit. Other growth opportunities include expanding to take advantage of the community facility bonus FAR and increasing rents to market value. None of the apartments are currently rent-stabilized or controlled, allowing for maximum profits.
The high-performing Staten Island Multifamily Submarket is an excellent place for investors to poach. The New York apartment market sports the lowest vacancy rate among major cities in the country, at 2.8%, and continues to be defined by many renters competing for a limited number of units. The vacancy rate in the Staten Island Submarket, at 1.2%, is tight when compared to U.S. submarkets with at least 10,000 units. The Staten Island Submarket has some stable demand drivers, including solid income levels and a sizeable public-sector workforce. The four medical facilities on Staten Island — Staten Island University Hospital-Psychiatry, South Beach Psychiatric Center, the Richmond University Medical Center-Bayley Seton Hospital, and Richmond University Medical Center — employ approximately 10,000 people, creating additional housing demand.
Stapleton is a coveted corner of Staten Island. One of the older waterfront neighborhoods of the borough, it was built in the 1830s on land once owned by the Vanderbilt family. Formerly a long-time commercial center of the island, it has recently transformed as new developments pop up through the area. The Stapleton neighborhood enjoys proximity to the Verrazzano Narrows Bridge and Staten Island Ferry. 43-53 Broad Street benefits from easy access to the Stapleton Train Station and proximity to Bay Street, a major connector for Staten Island. There is a plethora of retail nearby with a mixture of local and national names.
Property tours are available by appointment only. Please contact the listing broker to schedule.
The high-performing Staten Island Multifamily Submarket is an excellent place for investors to poach. The New York apartment market sports the lowest vacancy rate among major cities in the country, at 2.8%, and continues to be defined by many renters competing for a limited number of units. The vacancy rate in the Staten Island Submarket, at 1.2%, is tight when compared to U.S. submarkets with at least 10,000 units. The Staten Island Submarket has some stable demand drivers, including solid income levels and a sizeable public-sector workforce. The four medical facilities on Staten Island — Staten Island University Hospital-Psychiatry, South Beach Psychiatric Center, the Richmond University Medical Center-Bayley Seton Hospital, and Richmond University Medical Center — employ approximately 10,000 people, creating additional housing demand.
Stapleton is a coveted corner of Staten Island. One of the older waterfront neighborhoods of the borough, it was built in the 1830s on land once owned by the Vanderbilt family. Formerly a long-time commercial center of the island, it has recently transformed as new developments pop up through the area. The Stapleton neighborhood enjoys proximity to the Verrazzano Narrows Bridge and Staten Island Ferry. 43-53 Broad Street benefits from easy access to the Stapleton Train Station and proximity to Bay Street, a major connector for Staten Island. There is a plethora of retail nearby with a mixture of local and national names.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
New York - NY USA
Market Cap Rate
New York - NY USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
13,400 SF
Building Class
B
Year Built
2014
NOI
$300,000
Percent Leased
94%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.79
Lot Size
0.11 AC
Zoning
R4/C2-2 - Commercial - Great for retail and office
Frontage
Amenities
- Storage Space
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Clean & bright Single store with private bathroom and 9 ft Ceilings throughout. This building has a parking lot
| Space | Size | Space Use | Position | Available |
| 1st Floor | 800 SF | Office/Retail | - | Now |
1st Floor
| Size |
| 800 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Floor
| Size | 800 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
Clean & bright Single store with private bathroom and 9 ft Ceilings throughout. This building has a parking lot
Walk Score ®
Walker's Paradise (91)
Transit Score ®
Excellent Transit (70)
About Staten Island
Staten Island's retail sector is typically defined by low vacancy levels and reasonable rents that support tenant demand. Occupiers are a mix of local and national retailers looking to capitalize on Staten Island's more suburban sprawl compared to most parts of New York City.
Chain retailers are abundant here and typically aim to occupy locations with the most traffic. As a result, community centers and strip malls located in more affluent neighborhoods have strong occupancy levels with high-credit tenants. Still, the lack of spillover from Manhattan and Brooklyn means that local businesses comprise a significant portion of the tenant base and add to the diversity of options in Staten Island.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
42,926
258,818
821,130
2020 Population
42,559
261,803
909,953
2029 Population
42,482
252,190
776,645
2024-2029 Projected Population Growth
-1.0%
-2.6%
-5.4%
Daytime Employees
9,051
69,743
237,271
Total Businesses
1,053
10,067
32,954
Average Household Income
$82,322
$103,738
$95,393
Median Household Income
$55,781
$77,665
$69,666
Total Consumer Spending
$391.3M
$3B
$8.3B
Median Age
37.1
40.9
38.7
2024 Households
14,611
96,308
276,863
Percent College Degree or Above
17%
21%
19%
Average Home Value
$594,099
$676,077
$692,992
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $224,812 | |
| Land Assessment | $95,948 | Total Assessment | $320,760 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$95,948
Improvements Assessment
$224,812
Total Assessment
$320,760
Sale Advisor
Sale Advisor
Neil Grasso, Owner
(732) 740-8448
Contact
Neil Grasso is a professional realtor serving in both New York and New Jersey. With a background in Construction and Property Management, Neil currently focuses on Staten Island, New York and both Monmouth and Ocean County, New Jersey.
Starting his Real Estate career at just 18, Neil has been afforded great opportunities to work with builders on new construction projects and residential renovations. In addition to the construction aspect of real estate, Neil also has experience working on rental and investment properties.
Neil has been able to grow from the ‘new agent’ to an experienced and seasoned realtor working on his own projects buying and selling real estate property. The most important thing Neil values is his dedication. He stays dedicated to his projects from start to finish, and more importantly, he stays dedicated to his clients.
As a realtor, Neil’s style is casual and comfortable - fitting right in the construction atmosphere. The people he works with start as clients and end as friends. If you’d like to discuss future project with Neil Grasso, please call him at 732.740.8448 or email him at ngrasso@americanhomesgroup.com
Starting his Real Estate career at just 18, Neil has been afforded great opportunities to work with builders on new construction projects and residential renovations. In addition to the construction aspect of real estate, Neil also has experience working on rental and investment properties.
Neil has been able to grow from the ‘new agent’ to an experienced and seasoned realtor working on his own projects buying and selling real estate property. The most important thing Neil values is his dedication. He stays dedicated to his projects from start to finish, and more importantly, he stays dedicated to his clients.
As a realtor, Neil’s style is casual and comfortable - fitting right in the construction atmosphere. The people he works with start as clients and end as friends. If you’d like to discuss future project with Neil Grasso, please call him at 732.740.8448 or email him at ngrasso@americanhomesgroup.com
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X, Inc. Vibhav Kapila RE Brkr 10991231490
1 of 25
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
Presented by
North Shore Custom Homes
Broad Street Plaza | 43-53 Broad St
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Broad Street Plaza | 43-53 Broad St
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