78 GRAND STREET

For Sale - Manhattan - SoHo

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Key Details

Property Type
MultiFamily
Neighborhood
SoHo
Property Dimensions
25.0 x 93.0
Property Area
11,975 sq.ft.
Total Units:
5
Stories:
5
NOI
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Price
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Listing Description

Cushman and Wakefield has been exclusively retained to arrange for the sale of 40 Wooster Street and 78 Grand Street; two buildings that “L” around the northeast corner of Wooster Street and Grand Street.

78 Grand Street, is a 5-story mixed-use building located on the north side of Grand Street between Wooster and Greene Streets. The property is made up of 4 loft units, and a retail unit located on the ground floor. There building also features a freight elevator located on the front of the building from the street.

78 Grand Street has incredible value-add potential through the conversion and renovation of the upstairs loft units into offices or condominiums. There is approximately 525 square feet of available air rights an investor can use to build a pop up floor with access to an outdoor amenity space, an added benefit that can potentially increase the value of office rents or condo sellouts. Furthermore, an investor can replace the freight elevator with a proper passenger elevator.

Property Details

Block/Lot:
475/58
Lot Dimensions
25.0 x 100.0
Lot Area
2,500 sq.ft
Zoning:
M1-5B
FAR as Built:
4.79
Max FAR:
6.5
Robert CarrozzoCushman & Wakefield
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Sales & Transactions

AddressSale PriceSale DateProperty Type
41 KING STREET$10,250,00009/20/2016MultiFamily
552 BROOME ST$7,100,00008/09/2016MultiFamily
15 RENWICK STREET$2,905,06702/17/2016MultiFamily
196 SIXTH AVENUE, 1F$2,150,00002/11/2016MultiFamily
83 GRAND STREET$169,73502/09/2016MultiFamily
451 BROOME STREET, 3W$3,950,00002/09/2016MultiFamily
85 GRAND STREET$185,78102/09/2016MultiFamily
53 GREENE STREET$5,730,00002/08/2016MultiFamily
34 GREENE STREET$4,835,00002/08/2016MultiFamily
53 GREENE STREET$10,538,88702/08/2016MultiFamily