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558 Broome St
New York, NY 10013
Multifamily Property For Sale
·
24 Units
INVESTMENT HIGHLIGHTS
- Prime corner location in Soho with development flexibility.
- Adjacent parcels available for expanded footprint.
- Potential for 80,000+ sq ft buildable area with air rights.
- Surrounded by global brands and cultural landmarks.
EXECUTIVE SUMMARY
• The 558 Building can be renovated with a $1mm NOI potential, cost to do so is approximately $1,000,000 in CapEx Expenses
• Currently an NOI of $150,000 in place (Commercial Revenue)
• Building is substantially vacant but in good condition
• Potential to develop 80,000 sq ft ++ on corner of Broome and Varick
• Adjacent property is under contract by seller and can be made part of the transaction
• Adjacent air rights can be purchased
• The site can be delivered vacant
• Broom Street is slated to be a green “walking” Street
• Close proximity to Soho, West Village, and Tribeca
• Neighbors include the world famous Renzo Piana building, Google, Disney and many others
• Currently an NOI of $150,000 in place (Commercial Revenue)
• Building is substantially vacant but in good condition
• Potential to develop 80,000 sq ft ++ on corner of Broome and Varick
• Adjacent property is under contract by seller and can be made part of the transaction
• Adjacent air rights can be purchased
• The site can be delivered vacant
• Broom Street is slated to be a green “walking” Street
• Close proximity to Soho, West Village, and Tribeca
• Neighbors include the world famous Renzo Piana building, Google, Disney and many others
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| Sale Condition | High Vacancy Property | Lot Size | 0.07 AC |
| No. Units | 24 | Building Size | 14,737 SF |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1925 |
| Apartment Style | Mid-Rise | ||
| Zoning | M1-6 - M1-6 Light industrial with offices, hotels, and most retail uses permitted | ||
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 14,737 SF |
| No. Stories | 6 |
| Year Built | 1925 |
| Zoning | M1-6 - M1-6 Light industrial with offices, hotels, and most retail uses permitted |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 24 | - | 750 |
PROPERTY TAXES
| Parcel Number | 0491-0001 | Improvements Assessment | $3,291,478 CAD |
| Land Assessment | $297,849 CAD | Total Assessment | $3,589,327 CAD |
PROPERTY TAXES
Parcel Number
0491-0001
Land Assessment
$297,849 CAD
Improvements Assessment
$3,291,478 CAD
Total Assessment
$3,589,327 CAD
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