11 East 17th Street

> A 25' wide, 7 story plus basement, approximately 17,294 sq. ft. elevator apartment building located in the Flatiron/ Union Square District of Midtown South. > The subject property lies within the Ladies' Mile Historic District. > The building is comprised of a store on the ground floor and six (6), floor-through apartments above. > There are four (4) free market and two (2) rent stabilized apartments. The retail store has a 10-year lease extending until 11/30/2014, however they have no renewal options and their is a demolition clause with 6 months prior notice. Also, the retail tenant pays several pass-throughs including: 30% of the real estate tax increases over the base year 04/05, $100/mo. for water usage and is separately metered for electric, rent escalations based on a minimum of 3% or a maximum of 6% based on the CPI index. There are no available development rights. > Actual Revenue: $455,111. > Projected Expenses: $138,485 (Appx.). > Net Operating Income: $316,626 (Appx.) > Great investment, user or conversion building.