303 Broome St, New York, NY, 10002-3762, US

303 Broome Street

Asset Description

303 Broome Street is a mixed-use building located between Forsyth and Eldridge Streets on the Lower East Side. The retail is currently leased by The Canary Club with a lease that expires in June 2034. The residential units are all three-bedroom with one bathroom with the exception of unit 12 which is a two-bath. The free market residential units have light renovations.

...

Attributes

Number of units

23 units

Occupancy

100.00%

Year built

1900

Building area Gross

1,957 m²

Media

Investment Highlights

68% Free Market: The Property benefits from being 68% free market, with fifteen free market units, five rent stabilized units, and two rent controlled units.

Well-Positioned Retail: The 3,000 SF of commercial space at this location contains two at-grade spaces with a fully vented restaurant, private dining room, and a full below-grade lounge.

Value-Add Potential: In order to maximize the full potential of the property, investors have the ability to renovate common areas and add in washer & dryers to maximize revenue and drive rents.

Central Location: Located in the epicenter of the Lower East Side, 303 Broome Street lies in one of the most spirited and energetic neighborhoods in Manhattan. The building lies adjacent to the B & D subway stops and within an eight minute walk to the 6, F, M, J & Z trains with a plethora of Citi-Bike stations minutes from the front door.