Mixed Use - Mott street lower east side two mixed use buildings

Published on November 17, 2022
Modified on November 17, 2022
Published by jazz
Viewed by 9 people
4750000.00 $US

Description of item

Mott Street which is a package of two mixed-use buildings. The asking price is $4,750,000. The properties have two residential units and four commercial units. The buildings are located in an area that has good foot traffic, close to all modes of transportation and has great commercial and residential exposure.
Location: East side of Mott Street between Chatham Square and Pell Streets

Lot Size: 21’ x 37’ irr 10 Mott Street, 12’ x 30’ irr 12 Mott Street
Square Footage: 4,128
Stories: 4 & 3
Zoning: (FAR): C6-1: (6.0) R7 equivalent (3.44)
Total Buildable: 6,56
Available Air Rights: 2,328
Assessment: $443,700
Real Estate Taxes: $47,719.96 (21/22)
property 1 on Mott Street is a 21’ wide 4-unit three story mixed use building with a lower level below the first floor. The lower level has a store. The first floor was a Beauty Salon it’s now vacant. The second floor is a vacant floor- through office which was a dental office. This space is open and column free with 11’ drop ceilings. The third floor is a two-bedroom floor-through apartment which has an open kitchen eating area and living room. The unit also has a full bathroom with a small room for the HVAC unit. This apartment has 12’ ceiling and can be converted into a one bedroom apartment or office. Both apartments have excellent sunlight from the front and more windows can be added to the back. The hallways have 14’ ceilings with beautiful metal and tiled staircases. The building does not have a boiler each unit has a HVAC system and baseboard heat.

property 2 on Mott Street is a 12’ wide 1-unit three story mixed use building. There is a vacant store on the ground floor with 11’ ceilings and white tiled floors. The store is duplexed with the basement which has 7’ ceilings nice open space and a half bathroom. The second and third floor is a duplex residential floor-through space. The second floor is a floor through open space with 12’ drop ceilings. Third floor has it’s on entrance is also a floor through residential space with a full bathroom. This floor has 10’ drop ceiling and nice wood staircase in the hallway. The building has a HVAC system and each building has its own water and gas meters.

The properties are a prime investment opportunity because the units are not subject to rent stabilizing. An investor can rent out the units for the maximum amount. Since the buildings have another 2,300 square feet of air rights another two floors can be added without an elevator. The properties are also a prime user opportunity; a user can convert property 2 Mott Street into a separate townhouse and have an office on the ground floor and a duplex apartment above. This would allow them to keep property 1 on Mott Street as an investment.

ASKING PRICE: $4,750,000


United States
New York
new york
Mott Street