103 Reade Street

Marcus & Millichap is pleased to offer 103 Reade Street also known as 121 Chambers Street, which is a block through property located between West Broadway and Church Streets in the Tribeca section of Manhattan. The subject property is a five-story mixed use building with a full basement and subbasement. The building contains two retail units on the ground floor (one with frontage on Reade Street and the other with frontage on Chambers Street), an office on the second floor, two apartments on the third and fifth floors respectively, and a full floor loft on the fourth floor.

The property is built 25 feet by 150 feet and sits on a 25-foot by 150.83-foot lot with approximately 18,750 gross square feet above grade. As of right, there is approximately an additional 9,730 feet of air rights, however the property is located in the Tribeca South Historic District (please consult you architect to determine usable square footage). The property is zoned C6-3A/TMU (Block: 145, Lot: 10)

All apartments, except for the fourth floor unit, are free-market. The fourth floor is rent stabilized. Both retail tenants have short term leases and are considerably under market which presents an opportunity to reposition the asset in the short term.