MIXED-USE REDEVELOPMENT LOFTS (3Hrs From Brooklyn and 15Min From Pennsylvania) 

Marketing description 

*Grand Upside to Scale on Early Positioning for Prime Downtown Redevelopment Site with Potential Signage

(Appx 3Hrs from Brooklyn/Bronx/Queens/Manhattan/New Jersey – Located 15 Minutes from Pennsylvania)

Located in Certified Opportunity Zone (*Where Redevelopment on this Downtown Block has already begun)

Comprised of 14,000SF Mixed-Use Walk-Up Building ‘Brooklyn/Manhattan Brownstone Style’

8 Apartments and 2 Retail Stores – (*Vacant As-Is and Ready for Complete Renovation)

Close To: Hospitals, Arena, Theater, Banks, Courts, Insurance Agencies, Colleges, Shopping and Pedestrian Crossing Bridge – Across Chemung River

*To The Right and Left of This Building are Additional Redevelopment Sites, Recently Made Available, with 2 Adjacent Sites that have Air Rights

Cost of Renovation:

Appx. $50/SF-$60/SF

After Repair Value:

Appx. $300/SF-$330/SF (Based on Recent Redevelopment Sites Completed on the Same Block)

Exclusive Pricing Made Available by Penn Plaza Property Inc.

(*No Access to Premise or Walk-Through Available; Additional Photographs Provided Upon Request)

Jeff Yi: jyi@pennplazaproperty.com

917-294-7492

Investment highlights 

To The Right and Left of This Building are Additional Redevelopment Sites, Recently Made Available, with 2 Adjacent Sites that have Air Rights*

*Located in Certified Opportunity Zone (*Where Redevelopment on this Downtown Block has already begun)

*Less Than 150 Yards Away: Hospitals, Arena, Theater, Banks, Courts, Insurance Agencies, Colleges, Shopping and Pedestrian Crossing Bridge – Across Chemung River

Approximate Acquisition and Renovation Costs under $80/SF***

***Approximate After Repair Value is $300/SF-$330/SF***

(Based on Recent Redevelopment Sites Completed on the Same Block)

***High Demand for Residential Apartments in Area