525 W 29th St
New York, NY 10001

Amazing income producer all commercial 3 stories building prime Chelsea/Manhattan building,with all separate utilities for all the 3 units,great condition building with rooftop recreation area,all units with amazing loft layout. Great development opportunity to built approx. 19,000 sq ft residential building with commercial overlay. Building Description: Construction- Brick/Completely Attached. Property Dimensions 25 ft x 98.75 ft Building Dimensions 25 ft x 94 ft 3 Stories Building. Year built 1930 Zoning C6-3/WCH Annual Gross Income: $ 318,000 Property Taxes $ 55,100/Year. 1st Fl Tenant: Mexican Restaurant-Rent $ 16,500/Month. 8 Years Left On The Lease With 3 % Increase Each Year. Restaurant Tenant Pays 50% Of The Property Taxes And All Separate Utilities. 2nd Floor Tenant. Rent- $ 6,500/Month-One Year Lease. 2nd FLoor Tenant Pays 25% Of The Annual Property Taxes And All Utilities. 3rd Floor Tenant: Rent- $ 3,500/Month,No Lease And All Utilities Separate. Expenses: Property Taxes $ 55,100- 1 St Fl Tenant Pays 50 % Of Taxes :$ 27,550 2nd Fl Tenant Pays 25% Of The Property Taxes :$ 13,700 Owner Pays Only 25% OF the Yearly Taxes:$13,700 Insurance;$ 6,000/Year. PLP:$ 800/Year. Sewer: $ 5000/Year. Total Expenses $ 25,500/Year. Net Operating Income $ 292,500/Year.