35 Spring Street

Exquisite Turn-Key Mixed-Use Townhouse in the Heart of NoLita

Attention all investors, 1031 Exchange seekers, and end users! Here's your chance to own a spectacular income-producing property at 35 Spring Street, nestled between Mott and Mulberry Streets. This meticulously renovated townhouse seamlessly blends luxury living with prime commercial opportunities in the vibrant NoLita neighborhood.

Property Features:

• Dimensions & Space:

  • Spanning 19 feet wide, this property offers over 5,200 sq ft of exquisitely designed space with an additional 2,000 sq ft of buildable potential.

• Residential Details:

  • The residence features 3 full bedrooms, 3 full bathrooms, 3 half bathrooms, and a versatile home office.
  • Enjoy four unique outdoor spaces perfect for relaxation and entertaining.
  • Designed with alternating living and entertaining floors to provide an ultimate balance of fun and quiet.
  • A flexible bonus space can transform into an additional living room, lounge, or media room.
  • The rooftop oasis offers breathtaking views of SoHo, NoLita, and the LES, complete with a half bath and doorbell buzzer for effortless hosting.

• Design & Amenities:

  • Crafted by AW4B Architects, every detail has been considered.
  • Experience pin-drop quiet interiors with superior mechanicals, including central heat and air.
  • Soaring ceilings and rich hardwood floors create a sense of grandeur throughout.
  • The chef's kitchen boasts an oversized skylight, flooding the space with natural light.
  • Ample storage options for bikes and personal items ensure a clutter-free living experience.

• Location & Accessibility:

  • Enjoy the best of both worlds: central location with private and discreet living.
  • Just steps away from iconic spots like Supreme, Lombardi's, Aime Leon Dore, and Ruby's.

Investor Details:

• Residential Tenant: Tenant paying $29,950/month.

• Commercial Tenant: BOBA GUYS contributes $7,853/month with 3.5% annual increases, currently in year 3 of a 10-year lease, along with proportional building expenses.

Financials:

• Annual Income: $453,636
• Annual Expenses: Approx $35,844 (taxes, water/sewer, gas)
• CAP Rate: 5%+

This stunning townhouse presents an exceptional combination of luxurious living and lucrative investment potential. Don't miss your opportunity to own a prime piece of downtown real estate that truly has it all.