147 Wythe Avenue_Property for Sale
147 Wythe Avenue_Property for Sale
147 Wythe Avenue, New York, NY, 11249, US

147 Wythe Avenue

Asset Description

147 Wythe Avenue presents a unique opportunity to own a mixed-use asset that carries low operating costs and is situated in one of the most desired neighborhoods of New York City. The Property is totals 3,989 SF and has 20 feet of frontage along Wythe Avenue. The Property is comprised of a retail unit on the ground floor with a residential duplex above. The retail space is currently leased to the running brand Tracksmith. Tracksmith's lease that expires on 3/5/2032.

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Attributes

Building area gross
371 m²
Zoning
M1-2 / R6B

Media

Investment Highlights

Turn-Key Asset

The Property is comprised of a total of 3,989 GSF and is leased to the running and apparel brand Tracksmith, a consumer-focused running company that began in New England. Tracksmith’s lease expires 3/5/2032. The Property also boasts a three-bedroom, two and half bathroom duplex which commands $11,000 a month.


Protected Tax Class (Tax Class 1) & Minimal OpEx

147 Wythe Avenue is an ideal hands-off investment. The building is recently renovated and is beautifully maintained, requiring minimal repairs. Additionally, the Property is currently assessed as Tax Class 1, capping assessment increases to 6% over a single year, or 20% over a trailing 5-year span.  


Retail Strength Along Wythe Avenue

147 Wythe Avenue is positioned perfectly in heart of North Williamsburg’s energetic retail corridor, located just steps away from the heavily trafficked N 6th Street. As a result, the Property is poised to capitalize on the velocity of N 6th Street in both the short and long term. Wythe Avenue has developed into a top retail corridor in Williamsburg, with retailers such as Jack’s Wife Freda, Dépanneur, Van Leeuwen, Glossier, Sugarfish, Glowbar, Bakeri and Laser Wolf. Other attractions along Wythe Avenue include The Hoxton, The Arlo, The Wythe Hotel and The William Vale.


Loyal Running & Lifestyle Brand

Tracksmith is an independent running brand that began in Massachusetts. With roots in New England, 147 Wythe Avenue is Tracksmith’s first permanent store in New York. Tracksmith has locations in Boston, London and New York. 

147 Wythe Avenue 4_Property for Sale
147 Wythe Avenue 4_Property for Sale

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147 Wythe Avenue (0 Properties)

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Last updated
4 Jan 2024