135 Reade Street Tribeca Townhouse For Sale
- $7,350,000
BID DEADLINE - May 15th, 2024
135 Reade Street is a 3-story, mixed-use building with preserved air rights, featuring three free-market residential units above a retail space leased to a restaurant until 2031. With a net income yielding around 5% annually and substantial rent increases for the retail store, this property offers strong returns without additional work.
The building falls under the 2A tax class, ensuring capped expenses while income continues to grow. It is projected to generate nearly $3.5 million in net rental income over the next seven years.
Ideal for investors or end users, the property can be converted into a spacious, approximately 9,000-square-foot single-family home, significantly increasing its value. Turnkey townhouses in Tribeca currently sell between $2,500 and $3,000 per square foot, presenting immense redevelopment potential.
For detailed income and expense data, as well as comparable sales information, contact the listing agent at Douglas Elliman. Tours are by appointment only.
- Ownership Type: Mixed Use
Listing courtesy of Douglas Elliman Real Estate
Thank You!
Your message was sent.
A broker will contact you soon.
The Building
- Building Type: Townhouse
- Built: 1920
- Doorman: No
The Neighborhood
Related Listings
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
©2021 REBNY Listing Service, Inc. All rights reserved.
Filter Listings
Prime Manhattan Residential
Contact An Agent
Thank You!
Your message was sent.
A broker will contact you soon.