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109 Madison St
New York, NY 10002 Two Bridges

$9,750,000

Apartments For Sale  •  9,480 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 9,480 Sq Ft
  • Lot Size 0.06 ac
  • Building Class C
  • Year Built 1900
  • Cap Rate 4.33 %
  • Zoning R7-2
100 Transit Score
100 Walk Score

Description

A turn-key five-story mixed use walk-up apartment building located in the Two Bridges neighborhood, just south of the Lower East Side and Chinatown. 

The building is 81% Free Market which includes 22 two-bedroom units and 2 stores. All free market units have been gut renovated in the past year with new kitchens, floors and bathrooms. In addition, apartments are individually metered for heat. There are also solar panels on the roof resulting in lower electric for the common areas. 

Walking distance to City Hall & New York Presbyterian Hospital. Located near East Broadway [F] train station on Rutgers Street. Quick and easy access to the FDR Drive.

Highlights

Mixed-use walkup with 22 apartments & 2 stores | 9,480 SF
81% of the building is free market
All tenants pay for fuel
Solar panels installed on the roof

Financial Summary (Actual)

Net Operating Income: $421,900 (2018)
Cap Rate: 4.33 %

Public Transportation

Commuter RailDriveWalkDistance
Flatbush Avenue Station Commuter Rail (West Hempstead Branch, Long Beach Branch, Hempstead Branch, Far Rockaway Branch) 7 min - 2.8 mi
Hoboken Terminal Commuter Rail (North Jersey Coast Line, Morris & Essex Morristown Line, Raritan Valley Line, Bergen County/Port Jervis Line, Montclair-Boonton Line, Pascack Valley Line, Morris & Essex Gladstone Branch, Main/Port Jervis Line) 11 min - 4.0 mi
Transit/SubwayDriveWalkDistance
East Broadway Transit Stop (F) 2 min 8 min 0.4 mi
Grand Street (B,D Line) Transit Stop 3 min 10 min 0.5 mi
Chambers Street (J,M,Z Line) Transit Stop 3 min 12 min 0.6 mi
Brooklyn Bridge-City Hall Transit Stop (4, 5, 6) 3 min 12 min 0.6 mi
Canal Street (J,M,Z Line) Transit Stop 3 min 14 min 0.7 mi
AirportDriveWalkDistance
La Guardia Airport 19 min - 9.8 mi
Newark Liberty International Airport 29 min - 12.9 mi
John F. Kennedy International Airport 27 min - 15.2 mi

Parking Details

Parking Available: No
Reserved: No
Type: Surface
Included in Rent: Yes
Shallini Mehra 212-951-8414 Meridian Capital Group, LLC
Shallini Mehra 212-951-8414 Meridian Capital Group, LLC