93 Reade Street   Unit HOUSE

Cushman and Wakefield has been exclusively retained to arrange for the sale of 93 Reade Street, a gorgeous ground floor retail condo located in the Obsidian House, one of the oldest surviving cast iron buildings in New York City. Locatedon the South side of Reade Street between West Broadway and Church Street, the condo is approximately 1,360 RSF on the ground floor with approximately 1,688 RSF in the lower level. The space has close to 15 of frontage on Reade Street with tremendous 13 ceilings on the ground floor and 10 in the Lower Level.The current tenant Greenwich St Jewelers, LLC has recently signed a 15 year lease this February, paying approximately $16,667 per month, $200,000 per year. The tenant has base rent escalations of 3% per year and base year common charges capped at 3% percent per annum. All utilities are direct meter except sub meter for water. The condo isconveniently located walking distance to the Chambers Street metro station with service on the 1,2,3 metro lines.The property offers an outstanding opportunity for an investor to own a cash flowing asset in one of the most desirable neighborhoods in all of Manhattan as both residential and retail developments continues to group within this small enclave of Manhattan, making it one of the strongest submarkets in the city.