268 Water St

The subject property is a 3-story townhouse located on the north side of Water Street between Dover Street and Peck Slip in the South Street Seaport Historic District. The building is currently configured with 2,300 SF on the ground floor, 2,300 SF on the 2nd Floor and 1,100 SF on the 3rd Floor. The ground floor, which is owner occupied and will be delivered vacant at the time of sale, is classified as a home office. The second and third floors are floor-through apartments and are currently rented on a short term basis ($7,850 per month for 2nd fl, and $3,850 per month for 3rd fl).The entire building was recently gut renovated by the owner with non-toxic, natural and green/recycled materials. Renovations include central air-conditioning, beautiful Swiss kitchens & appliances and amazing roof space for the two apartments which have been enhanced with irrigation, steel work, and trees. In addition, the building enjoys a ready-to-go elevator shaft and all modern super high quality mechanicals that are brand new. The property is currently zoned as a two family house, a tax class that is taxed at a relatively low rate compared to many buildings throughout NYC. The lot itself is approximately 26 x 110 and the building is 23 x 110 with a huge rear yard that belongs to the adjacent building on Pearl Street providing plenty of natural light. The building enjoys eight skylights including one that is 23 x 20 over the kitchen on the second floor. The property can be delivered fully vacant and is ideal for a user interested in occupying a portion or all of the building. The 12,000+ square feet of air rights are subject to Landmarks approval, but it is believed that the building could accept a 2 or 3 story addition minimum.