Sold

148 Baxter Street

New York City NY, 10013

$4,690,000


$860.55 per sqft

Sold

7 Beds

7 Baths

5,450 sqft

Other

Built in 1920

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.

OLRS-0061467

MLS ID

September 28, 2020

Listed

March 27, 2024

Updated

Map

148 Baxter Street
New York City NY, 10013

Interior Features

Total Stories

5


Bedrooms

7 Beds


Bathrooms

7 Baths


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Exterior Features

Building Roof Deck


Architectual Style

Prewar

Other Property Details

Garage

No


View

No


County

NewYork


Pool

No


Zoning

M1-5B


Buyer Agency Compensation

1.75%

Courtesy of Elegran Real Estate and Development with Helene Xu,
Listing Contact: (212) 729-5712 x 

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.

©2024 The Real Estate Board of New York, Inc., All rights reserved

Data last updated 11:36 PM UTC, 3/27/2024

 

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