212-812-5995
385 Greenwich St, New York, NY for Sale
Storefront Retail/Residential - FOR SALE
1/2
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385 Greenwich St
New York, NY 10013


OVERVIEW

JLL has been retained on an exclusive basis to arrange for the sale 385 Greenwich Street (“The Property”), a 4-story, 100% Free Market and tax class protected building in the heart of Tribeca. The Property features (3) apartments over (2) stores with 95’ of wraparound frontage on the corner of North Moore and Greenwich Street. Purchasers will benefit from a strong combination of retail & residential income streams with the potential to un-lock additional value. The current 6,211 square foot building features (3) full-floor residential units above two (2) ground floor commercial units. The Property’s corner positioning provides excellent light & air with unobstructed views of the Hudson River from the upper floors. It may be possible for future ownership to create outdoor spaces offering residents greater access to these rare views. The two (2) ground floor commercial spaces are leased to Yves (~1,000 SF), a popular French restaurant that has been labeled as the best view for water and people watching in Tribeca and Smith & Mills (~400 SF), a quaint bar serving small plates and classic cocktails. Both commercial spaces have leases in place until 2025. The residential unit are comprised of (3) Free Market apartments; two (2) flex 4-bedrooms and one (1) 2-bedroom. The apartments contain individual HVAC systems whose operation are a responsibility of the tenants, tall ceilings, in-unit washer/dryers, and modern features. In terms of connectivity to the rest of the city, the nearby Franklin Street subway provides access to the 1 subway line and the Canal Street station to the northeast services the A C E trains. For those who prefer biking, there are ample Citi Bike stations are conveniently located throughout the neighborhood. Tribeca offers easy access to major highways and tunnels, making it convenient for those commuting by car or traveling to other boroughs or New Jersey. 385 Greenwich will appeal to purchasers seeking a low maintenance, well-located property with strong income and excellent long term value potential. Additionally, The Property’s protected tax class, individual heating systems and exemption from rent regulation will limit expense growth and maximize future returns. Ownership is separately offering 90 Nassau Street for sale.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,656 SF

ZONING

M1-5

APN/PARCEL ID

0188-0009

ASK ABOUT THIS PROPERTY

212-812-5995

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212-812-5995

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