duane street - amazon web services...the renovated 2-bedroom/1 bath residential loft-style units...
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5-Story Mixed-Use Elevator BuildingFour Free Market Apartments & 1,000± SF Ground Floor Retail
147
StreetDuane
TriBeCa, NYC
EXCLUSIVE OFFERING MEMORANDUM
Exclusive Listing
Brokers
Ronald H. Cohen
Chief Sales Officer
(646) 424-5317
Jay Bernstein
Associate
(212) 951-8406
Paul J. Nigido
Senior Financial Analyst
(646) 424-5350
For financing inquiries:
Matthew Slonim
Chief Operating Officer
(212) 951-8405
Steven Weiss
Managing Director
(646) 472-8747
147StreetDuane
TriBeCa, NYC
EXECUTIVE SUMMARY
Besen & Associates, as exclusive agent for ownership, is pleased to offer for sale 147 Duane Street,
New York, NY 10013 (the “Property”). Built circa 1890 in the TriBeCa South Historic District, this fully
renovated 5‐story, 6,200± SF mixed-use building contains four (4) free-market, full-floor apartments with
keyed elevator access, 1,000± SF of occupied ground floor retail space, and an exclusive rooftop deck
for the top floor tenant. The renovated 2-bedroom/1 bath residential loft-style units feature condo-like
finishes including new washer/dryer, dishwasher, and high ceilings. The retail tenant, Glowbar,
“TriBeCa’s skincare destination that offers customized, 30-minute treatments, including derma planning,
LED therapy, high frequency facials, and more” recently signed a 7-year lease expiring in 2026.
The Property is located in the heart of TriBeCa between Church Street and West Broadway, just two
blocks from the Chambers Street [1, 2, 3, & A, E] subway station. The building is situated right off West
Broadway, offering tremendous foot traffic, shops & restaurants.
The fully-renovated building is in excellent physical condition, has been very well maintained, and is
located in one of Manhattan’s most expensive zip codes. The Property offers an opportunity for an
investor to purchase a 100% occupied, cash-flowing asset in the heart of NYC’s famous TriBeCa
neighborhood.
ASKING PRICE: $8,100,000
Executive Summary
The Roxy Hotel
Investment Highlights
• Core Investment: Newly renovated property with ALL Free Market units
• Prime Location: TriBeCa South Historic District – one building off the corner of West Broadway
• Cash-Flowing: 100% occupied with newly signed 7-year retail lease with annual increases
• Turn-Key Condition: Requiring minimal near-term capital and low maintenance costs
• Tax Class 2A: Preserves a low and stable expense ratio, and caps increases in assessed value to
30% over 5 years
• Long-Term Ownership: First sale in 17+ years
• Investment Strategy: An exceptional opportunity to acquire a pre-war mixed-use asset in one of
Manhattan’s premier and most desirable neighborhoods, offering multiple possibilities for investor
or user
• Transportation: Walk to the Chambers Street 1,2,3 & A,C subway stations, as well as the
southbound M20 bus (along West Broadway) and the northbound M55 & BxM18 buses (along
Church Street), with direct access to the West Side Highway, Holland Tunnel and Canal Street
Property Overview – 147 Duane Street, New York, NY 10013
Neighborhood TriBeCa South Historic District
Block / Lot 147 / 10
Building Class Primarily Four Family with a Store or Office (S4)
Lot & Built Size 25’ x 50’ (Built: full)
Building Area 6,200± SF
Rentable Basement 600± SF (below-grade)
Stories 5-story + Basement
Total Apartments & Stores 4 Apartments & 1 Store + Basement
Layout (4) 2BR/1 BATH Units + Retail
Zoning C6-2A, TMU (TriBeCa Mixed Use Special District)
FAR (built / allowed) 4.97 / 6.02
Assessment & Taxes (2019/2020) $674,752 / $84,750
Location Map
147 Duane Street, New York, NY 10013 | 7
147 Duane Street
Ground Floor Retail
Street Views
147 Duane Street, New York, NY 10013 | 9
Looking East
Looking West
Apartment Pics
147 Duane Street, New York, NY 10013 | 11
Ronald H. Cohen
Chief Sales Officer
(646) 424-5317
Paul J. Nigido
Senior Financial Analyst
(646) 424-5350
381 Park Avenue South, New York, NY 10016 | Tel: 212.689-8488 | Fax: 212.689-9518
Exclusive Listing Team
Jay Bernstein
Associate
(212) 951-8406
147
StreetDuane
TriBeCa, NYC
Steven Weiss
Managing Director
(646) 472-8747
Matthew Slonim
Chief Operating Officer
(212) 951-8405
For financing inquiries: