Carlton named sales agent for Tribeca's 80 Lafayette Street.Carlton Advisory - Services, Inc., has been appointed exclusive sale advisor for the sale of 80 Lafayette Street, a 17-story, architecturally distinctive property located adjacent to Manhattan's TriBeCa East District, and one block from Broadway near the Civic Center. The property measures 318,400 square feet, which includes approximately 8,500 square feet of retail space. In addition, under the current zoning, an additional 10,000 square feet may be added "as of right" at the roof level, bringing the total building area to 328,400 square feet. The property is located on Lafayette Street, just one block east of Broadway and three blocks south of Canal Street Canal Street may refer to:
New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Department of General Services, which leases approximately 163,100 square feet on a month-to-month basis as the building's sole office tenant. The City intends to completely vacate To annul, set aside, or render void; to surrender possession or occupancy. The term vacate has two common usages in the law. With respect to real property, to vacate the premises means to give up possession of the property and leave the area totally devoid of contents. the subject property on or about January, 1999. Three other tenants occupy select portions of the ground level space: a bagel store/deli, a check cashing outlet, and a magazine/candy store in the building lobby. The owner intends to enter into a noncontingent contract for the sale of the property on December 3, 1998. "The owner is highly motivated to consummate a transaction, and will consider all market-driven offers," said Howard L. Michaels, Carlton's chairman. The property is in very good physical condition, having undergone a comprehensive roof replacement and exterior work less than one year ago, including brick pointing of more than 90 percent of the exterior surface. In addition, the boilers were replaced approximately five years ago. The property offers sweeping and unobstructed views to the north, east and west of Midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town and Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North . The availability of 80 Lafayette Street represents a rare opportunity to acquire a property with a large contiguous block of space in an established area which allows for a number of potential re-use options, including residential rental or for-sale housing, hotel use, dormitory or other similar institutional housing use, or senior housing. In addition, approximately 45 of the residential units (which represent approximately three floors) have been substantially completed, offering an investor a tremendous "head start" on a residential conversion. "The property enjoys TriBeCa's neighborhood feel, and is easily accessible to the major attractions of SoHo, TriBeCa and the nearby transportation infrastructure," said Michaels. The property is also near the Civic Center, which includes City Hall, the New York City and State Court systems, as well as the City's municipal and administrative headquarters buildings. "With the growth and maturation maturation /mat·u·ra·tion/ (mach-u-ra´shun) 1. the process of becoming mature. 2. attainment of emotional and intellectual maturity. 3. of TriBeCa, SoHo and other 'hot' neighborhoods such as NoLIta (North of Little Italy
Little Italy is a general name for an ethnic enclave populated primarily by Italians or people of Italian ancestry, usually in an urban neighborhood. ), the traditional demarcation lines between these neighborhoods have disappeared," said Michaels, "and 80 Lafayette is poised to benefit as these zones continue to converge. In fact, for some time now, galleries, theaters and restaurants have populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. its side streets." Property inspections and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. appointments are available by contacting Howard L. Michaels or Wm. David Tobin at (212) 545-1000. |
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