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Business for Sale Overview:

Investment and 1031 Exchange Opportunity. Ideal hotel development site in the heart of Greenwich village. At $400 per buildable square feet this deal is a dream. This property is 100'wide 6 story fireproof of approximately 57,500 Square Feet. Except for about 2,000 Square Feet on the second floor the entire building has either very short term leases or can be delivered vacant. There is one holdover tenant in litigation. This building has approximately 42,500 Square Feet of buildable air rights and is located in Manhattan's fastest changing neighborhoods. Seller believes that he deliver the building fully vacant, so submit offers with this in mind. Lot Size 100x100 Lot area 10,000 Square Feet, Zoning M1-6, FAR:10.0, Taxes: $ 162,317(06/07). Owner accepting offers and LOI only. Buyer registration NDNC, buyer brokerage and offer/LOI required for inspection. No Exception! Revenue : $2,047,600. Additional income : $30,000. Total Income : $2,077,600. Total Expenses : $346,028. Net Operating Income : $1,731,572.

Additional Details:

• The property is owned.
• The owner is not willing to train/assist the new owner.
• The owner is not willing to work for the new owner.
• This may become a homebased business opportunity.
• This may become a franchise resale opportunity.
• This is not a distressed business or bankruptcy situation.