Active
135 Reade Street
New York City NY, 10013
$7,350,000
$854.65 per sqft
Active
8 Beds
6 Baths
8,600 sqft
Multi-family
Built in 1920
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.
RPLU-5122695767
MLSⓇ ID
September 26, 2023
Listed
May 17, 2024
Updated
Map
135 Reade Street
New York City NY, 10013
Interior Features
Total Stories
3
Bedrooms
8
Total Bathrooms
6
Full Bathrooms
6
Appliances
Washer Dryer Allowed
Laundry Description
Building Other, In Unit
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Exterior Features
None
Architectual Style
Walk-Up
Other Property Details
HOA Frequency
Monthly
Garage
No
View
Yes
View Description
City
County
NewYork
Pool
No
Buyer Agency Compensation
1.5%
Courtesy of Douglas Elliman Real Estate with Viktar Kolatau,
Listing Contact: (718) 200-8471
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
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Data last updated 11:40 PM UTC, 5/17/2024