Building
| Type: | Townhouse |
|---|---|
| Era: | Post-war |
| Floors: | 3 |
Property
| Ownership: | Mixed Use |
|---|---|
| Rooms: | 10 |
| Bedrooms: | Studio |
| Pets: | Pets Unknown |
FinancialsPrice: $7,350,000
| Price: | $7,350,000 |
|---|
505 Park Ave, New York, NY 10022 Phone: +1212-252-8772 | |
| Courtesy of Douglas Elliman Real Estate | |
Description135 Reade Street is a 3-story, mixed-use building with preserved air rights, featuring three free-market residential units above a retail space leased to a restaurant until 2031. With a net income yielding around 5% annually and substantial rent increases for the retail store, this property offers strong returns without additional work.
The building falls under the 2A tax class, ensuring capped expenses while income continues to grow. It is projected to generate nearly $3.5 million in net rental income over the next seven years.
Ideal for investors or end users, the property can be converted into a spacious, approximately 9,000-square-foot single-family home, significantly increasing its value. Turnkey townhouses in Tribeca currently sell between $2,500 and $3,000 per square foot, presenting immense redevelopment potential.
For detailed income and expense data, as well as comparable sales information, contact the listing agent at Douglas Elliman. Tours are by appointment only.
Amenities- Voice Intercom
- Walk-up
Neighborhood
135 Reade Street is a 3-story, mixed-use building with preserved air rights, featuring three free-market residential units above a retail space leased to a restaurant until 2031. With a net income yielding around 5% annually and substantial rent increases for the retail store, this property offers strong returns without additional work.
The building falls under the 2A tax class, ensuring capped expenses while income continues to grow. It is projected to generate nearly $3.5 million in net rental income over the next seven years.
Ideal for investors or end users, the property can be converted into a spacious, approximately 9,000-square-foot single-family home, significantly increasing its value. Turnkey townhouses in Tribeca currently sell between $2,500 and $3,000 per square foot, presenting immense redevelopment potential.
For detailed income and expense data, as well as comparable sales information, contact the listing agent at Douglas Elliman. Tours are by appointment only.
- Voice Intercom
- Walk-up
Neighborhood
135 Reade Street is a 3 story, mixed use building with preserved air rights, featuring three free market residential units above a retail space leased to a restaurant until 2031.
Description135 Reade Street is a 3-story, mixed-use building with preserved air rights, featuring three free-market residential units above a retail space leased to a restaurant until 2031. With a net income yielding around 5% annually and substantial rent increases for the retail store, this property offers strong returns without additional work.
The building falls under the 2A tax class, ensuring capped expenses while income continues to grow. It is projected to generate nearly $3.5 million in net rental income over the next seven years.
Ideal for investors or end users, the property can be converted into a spacious, approximately 9,000-square-foot single-family home, significantly increasing its value. Turnkey townhouses in Tribeca currently sell between $2,500 and $3,000 per square foot, presenting immense redevelopment potential.
For detailed income and expense data, as well as comparable sales information, contact the listing agent at Douglas Elliman. Tours are by appointment only.
Amenities- Voice Intercom
- Walk-up
Neighborhood
135 Reade Street is a 3-story, mixed-use building with preserved air rights, featuring three free-market residential units above a retail space leased to a restaurant until 2031. With a net income yielding around 5% annually and substantial rent increases for the retail store, this property offers strong returns without additional work.
The building falls under the 2A tax class, ensuring capped expenses while income continues to grow. It is projected to generate nearly $3.5 million in net rental income over the next seven years.
Ideal for investors or end users, the property can be converted into a spacious, approximately 9,000-square-foot single-family home, significantly increasing its value. Turnkey townhouses in Tribeca currently sell between $2,500 and $3,000 per square foot, presenting immense redevelopment potential.
For detailed income and expense data, as well as comparable sales information, contact the listing agent at Douglas Elliman. Tours are by appointment only.
- Voice Intercom
- Walk-up
Neighborhood
All information furnished regarding property for sale, rental or financing is from sources deemed reliable,
but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors,
omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without
notice. International currency conversions where shown are estimates based on recent exchange rates and are
not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.