114 Delancey Street
LES | 114 Delancey Street | Retail & Commercial | McDonald's Anchor
Marketing description
Meridian Investment Sales is pleased to present the exclusive offering for 114 Delancey Street, a three-story commercial
building located in the heart of the esteemed Lower East Side neighborhood, situated on the Northwest corner of
Essex and Delancey Streets.
Built in 1997, the property includes 6 commercial spaces across four levels (cellar, ground floor, second floor and
third floor). Occupying 6,455 RSF between the cellar, ground floor, and second floor, the property is anchored by
McDonald's (‘BBB+’ rated by Standard & Poor’s and a Moody’s rating of ‘Baa1’), a credited tenant on a long-term lease
through 2036. The lower level is occupied by Sour Mouse (4,960 RSF), an entertainment venue with a bar, game room
and improv stage, and the ground floor is occupied by Zaza Go Smoke Shop (420 RSF). There is currently one vacant
space on the ground floor (2,298 RSF), previously occupied by Rainbow Stores. The second floor has 4,800 available
RSF, and the third floor has 7,500 available RSF (full floor). Combined there is approximately 26,000 GSF which
includes 26,433 SF of RSF. The property has 65’ of frontage on Delancey Street and 100’ of frontage on Essex Street.
Additionally, there is approximately 16,000 SF of available air rights.
Located directly across the street is Essex Crossing, a unique community development encompassing 1,870,000 GSF
of living, office, retail, and public recreation components. Essex crossing provides a dynamic mixed-use destination
designed to fit within the rich cultural tapestry of New York City’s historic Lower East Side. Notable retail and
community tenants include Trader Joe’s, Target, Regal Cinemas, the International Center of Photography, and the new
Essex Market, along with various local food and beverage establishments. The project is committed to sustainability,
participating in various programs and adhering to stringent environmental requirements outlined in the RFP, City
Disposition, and the City’s Uniform Land Review Procedure.
Investment highlights
Diverse Tenant Mix
Aside from McDonald's, the anchor tenant, the property is home to Sour Mouse, a large bar and game room that has an improv comedy stage. There is one vacant retail space on the ground floor that was previously occupied by Rainbow Stores, and 12,300 SF of vacant office space between the second and third floors. There is also a Smoke Shop on the ground floor.
Prime Location
The Lower East Side is a one-of-a-kind neighborhood bounded by the East River to the east, Bowery to the west, Canal Street to the south and Houston Street to the north. The neighborhood is truly a marvel unto itself - a unique combination of art, character and historical landmarks that continues to elicit unparalleled residential demand. 114 Delancey Street sits on the northwest corner between Essex and Delancey Streets and is within walking distance to various dining options throughout the Lower East Side and surrounding neighborhoods including the East Village, Nolita, and Little Italy.
Available Air Rights
According to local zoning requirements, 114 Delancey has an additional 16,000 SF of air rights to build either residential or commercial space. This creates additional upside for an owner to improve cash flow upon construction of additional units.
National Credit Anchor Tenant
114 Delancey Street is anchored by McDonald's, a credit rated tenant (BBB+ rated by S&P Global) who occupies 6,455 SF between the cellar, first, and second floors. Leased through 2036, the tenant has roughly 75' of frontage on Essex Street.
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