499 Canal St. #HOUSE

SIZE:17′ × 53′
BUILT:17′ × 53′
LOCATION: Between Hudson and Renwick Streets
BLOCK: 594
LOT: 113
ZONING: C6-2A
LANDMARK: No
SIZE: 3,300 sq. ft. (approx.)
ASKING PRICE: $3,300,000
RE TAXES (10/11): $34,050
DESCRIPTION: This is a newly renovated mini-loft building with retail in a heavily trafficked Tribeca location. Around the corner from numerous galleries, high-end artist and furniture showrooms, and designer boutiques, including Robert Kuo’s gallery, the Renwick Gallery, Pompy, Rick Owens, Atelier New York, and more. The highly visible ground floor retail has use of the finished cellar. The second floor is available for commercial use. Upstairs are two beautifully renovated full-floor lofts. New electric, plumbing, heating throughout. This offers any Tribeca building buyer an opportunity for a home as well as commercial income or use. It is centrally located near the number 1 train as well as numerous restaurants, lounges, and notable hotel and residential projects, including One York condominium and Trump SoHo, Tribeca Rooftop, Ear Inn, Estancia, and more.

Rent Roll

Unit # / Description / Status / Monthly Rent / Lease Expiration / Notes

1 / Retail Space / Vacant / $4,500 projected

3 / Full floor loft, 1 bath / FM / $2,200 / 8-31-11

4 / Full floor loft, 1 bath / FM / $2,150 / 5-14-11

Total Monthly: $12,019 (with ground floor retail space rented)
$7,519 (existing rent)

Total Annual: $144,228 (with ground floor retail space rented)
$90,228 (existing)

Real Estate Taxes (10/11): $34,050
Insurance: $2,900
Water/Sewer:$2,000
Electric: $4,000
Total: $42,950