355 Grand Street is for Sale
Reading real estate listings every day, we still cringe at the oft-included sentence “can be delivered vacant.” It’s seemingly the broker’s favorite phrase, and always a slap in the face for those residents and commercial business based in any given building. Sorta like – you’ve lived here for X number of years, but sorry, we gotta make more cash. Such is the case with 355 Grand Street (aka 51 Essex).
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The unique 3,200 square-foot corner property, which houses Flowers Cafe and Vic’s Pizza on the ground level, just hit the open market the other day. This “prime mixed-use” opportunity carries with it a price tag of$4.5 million. According to a press release:
The asking price for the property is $4,500,000. The building is 3,200 square feet and is located on a 1,173-square-foot lot. It has approximately 7,061 total buildable square feet.
The three-story property is comprised of two retail stores, one 2-bedroom apartment and one 1-bedroom apartment with outdoor space. The retail tenants pay their own heat and hot water. The building is equipped with a four year old boiler. All units in the property are currently leased. The building can be delivered vacant in just over a year.
Here’s hoping Flowers and Vic’s can hold on…
UPDATE: A broker for the property says that “the building’s commercial tenants have agreed to leave for $200,000, which is how it can be delivered vacant.”