148 Baxter Street, building for sale

Type
Mixed Use
Common Charges
N/A
RE Taxes
$4,480

Apartment Description

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.

Report an Inaccuracy

148 Baxter Street, building for sale

Type
Mixed Use
Common Charges
N/A
RE Taxes
$4,480

Helene Xu

2019%2f10%2f30%2f20%2f39%2f36%2f6c782ed6 3506 478e 8330 6d229c8f5123%2f1ff81202 e9e3 42f8 95e1 d560587e1e87 240x312
Cell
646-643-4130
Office
212-729-5712, Ext. 102
E-mail
hxu@elegran.com

Location

Staticmap?size=450x300&zoom=16&markers=40.71914, 73

Nearby Transportation

6th Ave & Walker St (2 min walk)

  • A
  • C
  • E

Subway data provided by NYC Open Data.

Little Italy

Once known for its large population of Italian Americans, Little Italy is now best known for its charming streets and delicious food. Today, the area is only a few blocks in size, but its cultural presence is still as large as ever. Centered around Mulberry Street, the closed-off street...

 
 

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2020 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. 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.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on Elegran.com. All data displayed on Elegran.com is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.