Corner Mixed-Use Bldg
January 25, 2022 at 11:00 am
500 West 184th Street
New York, NY 10033
5,600+ Sq Ft Corner Mixed-Use Building
Prime Redevelopment Opportunity – Directly Across from Yeshiva University
- 500 West 184th Street, Washington Heights, NYC 10033
- a/k/a 2500 Amsterdam Avenue, Washington Heights, NYC 10033
- 5,610 Sq Ft 5 Unit Mixed-Use Building (3 Commercial and 2 Residential Units)
- 2,274 Sq Ft Air Rights
- Prime Location on Corner of 184th Street and Amsterdam Avenue
- 23′ Frontage on Amsterdam Avenue
- Located Directly Across from Yeshiva University, Highbridge Park & 181st Street 1 Train
- 3 Commercial (Street Level) & 2 Residential Units (top 2 Floors, 1 Floor Per)
- Gross Residential Sq Ft: 3,300
- Gross Commercial Sq Ft: 2,310
- 2021 Projected Annual Income: $190,428
- One Occupied Commercial Space:
- Lease Commencement: 1/1/19
- Lease Termination: 12/31/28
- Monthly Rent: $4,244
- 3% Annual Rent Escalation
- Additional Rent:
- 11% of Water and Sewer Rent Provided to the Premises Imposed by NYC
- 100% of the Water Charges and Sewer Rent for Premises as set forth by the Sub-Meter
- 11% of the Increase in Real Estate Tax of Base Year (’18-’19)
- 11% of Any Special Assessment
- 2 Vacant Commercial Spaces:
- Projected Monthly Rent: $2,900 & $1,750 ($4,650 Total)
- 2 Vacant Residential Units (5 Bedrooms Each):
- Projected Monthly Rent: $3,500 Per Unit ($7,000 Total)
- Block: 2155 Lot: 86
- Lot Size: 2,292 Sq Ft (22.92′ x 100′)
- Building Class: S9 (Single or Multiple Dwelling with Stores)
- Primary Zoning: R7-2
- Tax Class: 2A
- Annual Real Estate Taxes: $22,648
- $2,530,309.03 Minimum bid
Inspections/Viewings: Available by appointment upon request.
Bidder Qualification Deadline: Monday, January 24, 2022 before 4:00 pm. See Attached Bidding and Auction Procedures or Call Richard Maltz at 516-349-7022 x 202.
Auction Date & Time: Tuesday, January 25, 2022 at 11:00 Am. Only Qualified Bidders as defined in Bidding and Auction Procedures qualified to participate.
Auction Location: Virtual Auction viewable on Zoom with Bidding via RemoteBidding.MaltzAuctions.com – Credentials will be provided upon bidder qualification. Please call Richard Maltz at 516-349-7022 x 202 with questions.
Terms & Conditions of Sale: In order to register to bid, all prospective bidders must pre-register in accordance with the Bidding & Auction Procedures. A Stalking-Horse Bid in the amount of $2,505,309.03 has been accepted Subject to Higher or Better Offers with a Minimum Bid of $2,530,309.03. all prospective bidders must Pre-Qualify pursuant to the Bidding and Auction Procedures. Please download the complete Bidding and Auction Procedures.
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Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105