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.