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148 Baxter Street, New York, NY 10013
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$4,790,000
Active for Sale
FLATEAU REALTY CORP
Office: 718-953-2732
368A DECATUR ST,
BROOKLYN, NY 11233

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Listing ID 10941834
Property Type Commercial Building
County New York
Neighborhood Little Italy
School New York City Schools
   
Will be delivered vacant. This is a property with immense potential and it is well-priced, leaving ample room for remodeling costs. For investors, setup estimate can be provided. Nestled in the historic downtown locale of NYC's most vibrant neighborhood is this exciting and unique development opportunity at 148 Baxter Street. An impressive 5-story building with extra high ceilings awaits those with an imagination to transform this vacant building into an iconic retail and/or residential destination. With an enviable location a short walk from SoHo's famous boutique retail corridor, half a block from a collection of eclectic restaurants, close to most subway lines, and in the heart of NYC's influential art and culture center, this multi-family is a rare opportunity one can capture. This towering building is set on a 21' wide and 71' deep lot and currently offers mixed-use with five units, all at free-market rent with significant income upside, plus a 1,300 sqft retail space with a full-sized basement for expansion. Those wanting to develop this site will relish the more than 4,000 sqft of residential space that can be converted into a 7-bed, 7-bath SoHo loft-style townhome. The property could also be converted into a 3-bed, 3-bath owner's duplex with a private roof deck, while benefiting from generous monthly rental income from the residential/commercial spaces to offset carrying costs. There is also enough FAR to add an additional appx 2000 sf of interior space. With property tax class 2B status, the annual city tax increase is capped. The abundance of extra-large windows on each floor fills the space with a lavish amount of natural light. The staircase leads to the 900 sqft rooftop, a finishing touch that is ready to be transformed into an exclusive rooftop garden with views overseeing this exceptional neighborhood.
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Property Details
  • 7 Full Baths
  • 5450 Sq. Ft.
  • 5 Stories
  • Available 01/26/2021
FLATEAU REALTY CORP
Office: 718-953-2732
368A DECATUR ST,
BROOKLYN, NY 11233

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Security: What is ?
Listing Courtesy of  
Helene Xu, Elegran Real Estate and Development
Listings data is deemed reliable but is NOT guaranteed accurate by NY State MLS.
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