383 Broome Street, New York, NY, 10013, US

383 Broome Street

Asset Description

JLL has been retained on an exclusive basis to arrange for the sale of 383 Broome Street, a 5,727 square foot mixed-use property located in the northern portion of Little Italy, steps from Nolita and Soho. This four-story building consists of one vacant triplex residential unit above a vacant retail unit on the ground floor. An investor or user has a unique opportunity to create a renovated triplex above the retail space or to create a one-of-a-kind townhome. Additionally the building has 2,823 SF of unused air rights. The combination of these qualities allows an investor to maximize creativity when applying their investment strategy upon sale of the property. With this unused F.A.R. an investor or end-user has the ability to add a pop-up unit on top of the existing structure, add a rooftop garden, or demolish & rebuild - to name a few options. Additionally, this property is in tax protected tax class 2A which further enhances its value.

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Attributes

Number of units

4 units

Year built

1900

Building area Gross

504 m²

Media

Investment Highlights

Sought After Location: The property is located in Little Italy at the crossroads of Soho and Nolita steps from world-class restaurants and shopping.

Vacant Delivery: The property will be delivered vacant - ideal for a creative investor or end user looking to maximize value.

Value Add Opportunity: Significant value can be added to the property through interior renovations and utilization of the 2,823 ZFA of unused air rights.

Feast of San Gennaro: The Property benefits from being in a prime location for the Feast of San Gennaro - a two week long celebration - which takes place every September and generates approximately $4.5 million in profit for local businesses.