“A heart to love, and in that heart, Courage, to make’s love known”

And in that courage, to admit that i love the Lower East Side and Chinatown. What is there not to love? In the past ten years, the landscape has embraced an  an eclectic collection of architectural whispers adding to the poetic skyline.  Additionally, the Essex Crossing  will bring “an unprecedented development comprising 1.9 million square feet of residential, commercial, and community space. ” With February upon us, there is Love On the Brain,; an opportune time to place your bets in an emerging market that you love. The building, currently available for purchase, is a 25′ wide, 5 story, 4 elevator, commercial loft building. The property was built around 1910, and located in a high traffic corner bordering the Lower East Side and Chinatown –  like most structures here, it contains a bundle of history.  Furthermore, the net operating income is not based on income based off contrived rent rolls, which in actuality, are rents mostly subsided by  tax abatements, and attractive only on paper.  NO, this building is true to its heart, and it has the courage to report what it truly earns. Additionally, the overhead is fairly low, contributing to a healthy cash flow, and allowing room for  higher capitalization, and increase of rents that can  sustain long term while attracting non transient tenants, and keeping the occupancy rate high. For the owner, the property is not just a building, but a piece of him – a piece of history, and love encapsulated in depths of light.  He also realizes the potential for a sweet cap rate because of the location, and the fact that an emerging location, has one way to go – UP. The building is in the 13 to 15 million range. Contact me for details, and happy valentines day!

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