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Compass is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of 355 Bleecker Street. The sale represents a compelling acquisition opportunity for investors looking for a trophy asset thats located in one of Manhattans most desirable neighborhoods.
355 Bleecker Street is a three-story walk-up mixed-use building located in the heart of the West Village. The property is approximately 4,275 square feet and consists of 2 apartments and 1 retail unit. The apartments are floor-through, free-market 2-bedroom 2-bathroom apartments with washer/dryer and updated HVAC systems. The apartments were renovated in 2006 and have been well-maintained. The ground floor retail unit is occupied by a men's apparel store.
355 Bleecker Street is located on the east side of Bleecker Street between West 10th Street and Charles Street in the West Village neighborhood of Manhattan. The property is built 17 feet by 90 feet and sits on a 17-foot by 100-foot lot (Block: 620 Lot: 44). The property is zoned C1-6 with a maximum FAR of 3.44, allowing for an additional 1,597 SF as of right.
355 Bleecker Street, located on one of the most sought-after retail corridors in the West Village, offers investors the opportunity to own a well-maintained building in Manhattans most desirable neighborhood.
The buildings central location in the West Village, surrounded by numerous retail stores, restaurants and bars; and its proximity to public transportation, makes it a stellar residential and retail rental investment. The commercial space appeals to a variety of retail, showroom and gallery uses; while the residential units appeal to high net-worth individuals and professionals. The residential apartments were last renovated in 2006, and although they have been well-maintained, they will demand more in rent once renovated with more modern finishes and appliances.
Although Bleecker Street has recently had a large number of retail vacancies, its beginning to make a comeback. At the end of 2017, there were 27 retail vacancies on the street. Now, there are only 7 vacancies. That number will continue to decline as Bleecker Street retail continues to undergo its transformation from major high-end retailers, to more boutique retailers who conform to the character of the neighborhood.
In conclusion, 355 Bleecker Street presents a compelling acquisition opportunity for investors and is a trophy asset that is centrally located in the heart of one of Manhattans most desirable neighborhoods.
Courtesy Of Compass