265 Water St

The Nickolai Group at Douglas Elliman is delighted to offer for sale a commercial co-op in the heart of historic South Street Seaport. This 1,567 SF ground-floor loft space is located in a landmark 1872 building originally built as a biscuit factory. The space, with 9 1/2-foot ceiling, is delivered vacant, vanilla box .. Sale does not require co-op board approval. The space is vented and ideally and can be used for catering or other food usage. The space would also work very well as a showroom, premium retail location, or as a professional office.The South Street Seaport is a designated historic district, featuring some of the oldest architecture in New York, with cobble stone streets, and is undergoing major redevelopment, including the projected renovation of the Fulton Fish Market and the conversion of Pier 17 into a glass-enclosed three-story mall for luxury retail with a rooftop park and 250,000 square feet of commercial space. Seaport development is set to begin October 2013 with a grand opening in 2015. The plan will also include moorings for boat usage.Maintenance is $1,500/mo. Prior tenant rent was approximately $8,000/mo. Rents in the area are fetching up to $ 80 per foot currently.This property is an incredible opportunity for investment!! Priced at only $ 700 per foot.