27 Allen Street - Map blueView Map

For Sale - Manhattan - Chinatown

$6,000,000

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P1040795

Property Details:

Price: $6,000,000

Estimated Annual Income: $ Inquire

Property Type: Commercial

Lot Dimensions (ft): 25.17 x 87.5

Lot Area: 2,208 sq. ft.

Building Dimensions (ft): 25.0 x 76.0

Building Area: 3,785 sq. ft.

Building:

Block/Lot: 00300/0024

BIN: 1003892

Building Class: K2

Stories: 2

Total Units: 1

Corner Lot: No

Buildings on Lot: 1

Year Built: 1900

Landmark: none

Has Garage: no

Year Last Altered: n/a

Residential Units: 0

Residential Area: 0 sq. ft.

Zoning: C6-1G

Floor Area Ratio:

Max FAR: 6.5

Useable Floor Area: 3,810 sq. ft.

FAR as Built: 1.73

Neighborhood:

Neighborhood: Chinatown

Historic District: n/a

Community District: 103

School District: 2

Census Tract: 16

27 Allen Street

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 27 Allen Street. The 2,208 SF lot, which is currently improved by a 2-story commercial building, measures 25’ x 87.5’ and is within the C6-1G zone. Located on the west side of Allen Street between Canal and Hester Streets, 27 Allen Street presents a unique opportunity to purchase a well-located development opportunity in one of Manhattan’s most exciting and emerging markets. Furthermore, the property would be ideal for a user looking to occupy the building for their own use once the current tenant’s lease expires. 27 Allen Street is currently occupied by the retail tenant ZIPPERSTOP paying $7,500/month with a lease until March 2018. The tenant is responsible for all heating and electrical costs associated with the building while the owner is responsible for all remaining expenses. The building is built 25’ x 75’ and therefore there is a small rear yard on the lot. The C6-1G zone allows for a mix of uses including Residential, Commercial and Community Facility. A developer could build a Residential development of approximately 7,594 BSF (3.44 FAR), Commercial of 13,246 BSF (6.00 FAR) or Community Facility of 14,350 BSF (6.50). Due to the strong demand for retail, office, hotel and residential space in the immediate area, a developer would benefit from building a mixed-use building between 13,246 BSF and 14,350 BSF. The area has witnessed a tremendous amount of new development in recent years.