LOFT REDEVELOPMENT SITE (3Hrs From BK and 15Min from PA)
MIXED-USE REDEVELOPMENT LOFTS (3Hrs From Brooklyn and 15Min From Pennsylvania)
Marketing description
*Grand Upside to Scale on Early Positioning for Prime Downtown Redevelopment Site with Potential Signage
(Appx 3Hrs from Brooklyn/Bronx/Queens/Manhattan/New Jersey - Located 15 Minutes from Pennsylvania)
Located in Certified Opportunity Zone (*Where Redevelopment on this Downtown Block has already begun)
Comprised of 14,000SF Mixed-Use Walk-Up Building 'Brooklyn/Manhattan Brownstone Style'
8 Apartments and 2 Retail Stores - (*Vacant As-Is and Ready for Complete Renovation)
Close To: Hospitals, Arena, Theater, Banks, Courts, Insurance Agencies, Colleges, Shopping and Pedestrian Crossing Bridge - Across Chemung River
*To The Right and Left of This Building are Additional Redevelopment Sites, Recently Made Available, with 2 Adjacent Sites that have Air Rights
Cost of Renovation:
Appx. $50/SF-$60/SF
After Repair Value:
Appx. $300/SF-$330/SF (Based on Recent Redevelopment Sites Completed on the Same Block)
Exclusive Pricing Made Available by Penn Plaza Property Inc.
(*No Access to Premise or Walk-Through Available; Additional Photographs Provided Upon Request)
Jeff Yi: jyi@pennplazaproperty.com
917-294-7492
Investment highlights
To The Right and Left of This Building are Additional Redevelopment Sites, Recently Made Available, with 2 Adjacent Sites that have Air Rights*
*Located in Certified Opportunity Zone (*Where Redevelopment on this Downtown Block has already begun)
*Less Than 150 Yards Away: Hospitals, Arena, Theater, Banks, Courts, Insurance Agencies, Colleges, Shopping and Pedestrian Crossing Bridge - Across Chemung River
Approximate Acquisition and Renovation Costs under $80/SF***
***Approximate After Repair Value is $300/SF-$330/SF***
(Based on Recent Redevelopment Sites Completed on the Same Block)
***High Demand for Residential Apartments in Area
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