ERG Hired Exclusively to Sell Loft Building on Lower East Side

New York, NY, March 31, 2012 --( ERG Property Advisors is pleased to announce the availability of 154 Stanton Street, AKA 164 Suffolk Street, in New York, NY. The property is located on the northeast corner of Stanton and Suffolk Streets.

This retail property is a two-story loft building with a full, finished basement. It is approximately 3,100 square feet and is situated on a 1,675-square-foot lot. In addition, a total of 3,600 square feet of air rights is available for further development.

The asking price for the property is $5,000,000 and the projected cap rate is 5.25%. There are two retail units: the main unit is 25’ x 57’ and the other is 25’ x 10’. The building is currently owner-occupied and can be delivered vacant.

The property is located on an excellent corner on the Lower East Side with superb retail visibility and will be an excellent opportunity for a user or investor. It was recently rented to Sony for a pop-up exhibition.

For more information about this property, please contact James Kinsey at (646)253-0923 or or Clinton Botway at (646) 253-0930.

About ERG Property Advisors
ERG Property Advisors is a full-service commercial real estate brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles.
ERG Property Advisors
Michelle Babinsky