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180 Spring St

3,216 SF 100% Leased Retail Building New York, NY 10012 £4,655,100 (£1,447/SF) 4.10% Net Initial Yield

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Executive Summary

SUSAN PENZNER Real Estate has been engaged by Ownership to offer for sale 180 Spring Street a/k/a 82 Thompson Street (the “Property”) a 4-story mixed-use property in Soho. The approx. 3,240sf building sits on an approx. 1,188sf lot with R7-2 zoning with a C1-5 overlay.
The property is 100% occupied with all residential leases expiring in 2025. The gross rent for the building exceeds $360,000.
The three apartments are currently at below-market rents, providing an excellent value-add opportunity in one of New York’s most iconic neighborhoods.

Property Facts Under Contract

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront Retail/Residential

Building Size

3,216 SF

Building Class

Year Built

1848

Price

£4,655,100

Price Per SF

£1,447

Net Initial Yield

4.10%

NOI

£190,859

Percent Leased

100%

Tenancy

Multiple

Number of Floors

Building FAR

2.46

Land Acres

0.03 AC

Zoning

R72, New York - Medium-density apartment house district with lower parking requirements

Frontage

20 ft on Spring

Amenities

Bus Route

Corner Lot

Public Transport

MAJOR TENANTS

Bistro Les Amis
-
803 SF
-
-

Tenant	Industry	SF OCCUPIED	RENT/SF			Lease End
Bistro Les Amis	-	803 SF	-			-

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Walk Score ®

Walker's Paradise (100)

Transit Score ®

Rider's Paradise (100)

Bike Score ®

Biker's Paradise (96)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	0488-0015	Improvements Assessment	£322,951
Land Assessment	£455,046	Total Assessment	£438,226

PROPERTY TAXES

Parcel Number

0488-0015

Land Assessment

£455,046

Improvements Assessment

£322,951

Total Assessment

£438,226

Listing ID: 32379441
Date on Market: 08/07/2024
Last Updated:
Address: 180 Spring St, New York, NY 10012

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