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207 Bowery
New York, NY 10002
Multifamily Property For Sale
·
7 Units
EXECUTIVE SUMMARY
Cushman & Wakefield is pleased to announce it has been retained on an exclusive basis to arrange the sale of 207 Bowery. This ~20,658 square foot mixed-use elevator building is located on the east side of Bowery between Delancey and Rivington Streets in the Lower East Side neighborhood of Manhattan. The building consists of a fully built out restaurant on the ground floor and lower level and six floor through apartments on floors 2-7. The restaurant has a kitchen, office, 4 bathrooms, three main dining areas and two private dining rooms. There are 13.5’ ceiling heights on the lower level of the restaurant with an ADA compliant elevator. The 2nd floor apartment will have 5 bedrooms and 3 bathrooms. The 3rd floor apartment will have has The 4th floor apartment has 4 bedrooms and 2 bathrooms with ~496 SF of outdoor space. The 5th floor has 4 bedrooms and 2 bathrooms with ~496 SF of outdoor space. The 6th floor apartment has 4 bedrooms and 2 bathrooms with ~76 SF of outdoor space. The 7th floor has 14’ ceiling heights in the living room, 5 bedrooms, 3 bathrooms and ~460 SF of outdoor space. The original building was a 4-story commercial building that was gutted and extended an additional 3 stories in 2004. The foundation was dug out during the enlargement of the building to maximize the usable space in the retail. All units in the building have central air conditioning, washer/dryers, direct elevator access to the units, outdoor space, and good ceiling heights. The property is centrally located at the intersection of the LES and Nolita. Neighbors include the Bowery Supreme store, CitizenM Hotel, Unititled, Freemans Alley, The Moxy, Sohotel, Vince, Marine Layer, Everlane, Prince Street Pizza, Tacombi, Black See Bagels, The Butcher’s Daughter, Ray’s, along with many more restaurants and shops. It is half a block from the Bowery J/Z Station, four blocks to the Spring St 6 Station, four blocks to the Grand Street B/D Station and five blocks to the 2nd Avenue F Station.
PROPERTY FACTS
| Price Per Unit | $2,785,714 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 4.88% | Building Size | 20,700 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 7 |
| Property Subtype | Apartment | Year Built | 2004 |
| Apartment Style | Mid-Rise | ||
| Zoning | C6-1, Manhattan, (K9 - C6 - C6 districts permit a wide range of high-bulk commercial uses requiring a central location | ||
| Price Per Unit | $2,785,714 |
| Sale Type | Investment |
| Cap Rate | 4.88% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 20,700 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built | 2004 |
| Zoning | C6-1, Manhattan, (K9 - C6 - C6 districts permit a wide range of high-bulk commercial uses requiring a central location |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
PROPERTY TAXES
| Parcel Number | 0425-0013 | Improvements Assessment | $1,588,580 |
| Land Assessment | $247,500 | Total Assessment | $1,836,080 |
PROPERTY TAXES
Parcel Number
0425-0013
Land Assessment
$247,500
Improvements Assessment
$1,588,580
Total Assessment
$1,836,080
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