Ownership:Commercial Lease
  • Elevator

This is 4000' Square foot Commercial Loft floor-through, From North to South. Bay windows facing north with original details. This commercial loft features: High Ceilings, exposed brick, keyed elevators both freight and passnger, video intercom system, fire exit in back and stairwell leading to/from the space.
The unit is up to code with a sprinkler system and 2 half baths.
With this loft you can do anything "legal" as stated in the lease--it is a sweetheart of a deal.
Please kepp in mind you are buying the lease(the remaining 17 years of a 40 year lease) which means you will still have to pay $2500.00 per month which altogether comes out to around $6500.00 amonth or $17.00 per square foot. This is still way below the present manhattan market rate of $25.00 a square foot.
Presently we are seeking an answer as to whether the co-op will sell the commercial shares that will allow the buyer of lease to convert to residential status.