15 Warren St
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15 Warren St
5 Unit Block of Flats £4,702,538 (£940,508/Unit) 3.95% Net Initial Yield New York, NY 10007
Investment Highlights
- Fully brought up to code including central AC, electric water/heat, wiring, roof, elevator, etc.
- 5,758 square feet unused air rights.
- Great ceiling heights including cellar and sub-cellar.
Executive Summary
25’ wide mixed-use building in the heart of Tribeca. It is an approximately 13,175 square foot (8,475 above grade and 4,700 below grade) building consisting of four floor-thru residential units and one ground floor retail space.
The building contains a recently re-done elevator, new roof, central AC, and has recently been brought fully to code. The ceiling heights in the cellar and sub-cellar are approximately 9’. All residential units are floor-through and have excellent ceiling heights. Three (3) of the four (4) residential units are IMD. The retail space is rented to a doctor’s office until April 2027.
The building contains a recently re-done elevator, new roof, central AC, and has recently been brought fully to code. The ceiling heights in the cellar and sub-cellar are approximately 9’. All residential units are floor-through and have excellent ceiling heights. Three (3) of the four (4) residential units are IMD. The retail space is rented to a doctor’s office until April 2027.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£302,076
|
£24.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£302,076
|
£24.80
|
| Taxes |
£100,317
|
£8.24
|
| Operating Expenses |
£16,473
|
£1.35
|
| Total Expenses |
£116,789
|
£9.59
|
| Net Operating Income |
£185,287
|
£15.21
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £302,076 |
| Annual Per SF | £24.80 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £302,076 |
| Annual Per SF | £24.80 |
| Taxes | |
|---|---|
| Annual | £100,317 |
| Annual Per SF | £8.24 |
| Operating Expenses | |
|---|---|
| Annual | £16,473 |
| Annual Per SF | £1.35 |
| Total Expenses | |
|---|---|
| Annual | £116,789 |
| Annual Per SF | £9.59 |
| Net Operating Income | |
|---|---|
| Annual | £185,287 |
| Annual Per SF | £15.21 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 1,650 |
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Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 0134-0021 | Total Assessment | £907,639 (2024) |
| Land Assessment | £102,013 (2024) | Annual Taxes | £100,317 (£8.24/sf) |
| Improvements Assessment | £840,048 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0134-0021
Land Assessment
£102,013 (2024)
Improvements Assessment
£840,048 (2024)
Total Assessment
£907,639 (2024)
Annual Taxes
£100,317 (£8.24/sf)
Tax Year
2023
zoning
| Zoning Code | C6-3A/TMU |
| C6-3A/TMU |
-
Gage Rand -
Brown Harris Stevens
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15 Warren St
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