281 Grand Street
281 Grand Street
Permanently Off Market
Permanently Off Market
Description
Utilities, including heating, are paid by tenants as each individual loft has their own boiler, and all are free-market-units, making this an excellent opportunity for rental income. The total yearly income from the 8 lofts is $661,200.00. The total operating expenses including taxes, water, electric, super, management and repairs are $189,222.00. There is an additional 25-foot by 100-foot space in the basement which includes on-site laundry. Keep in mind, steps one and two of a condo conversion have already been completed and the building is self-managed. The Superintendent collects rent from tenants and makes the deposit; he also conducts most of the repairs in the building for a nominal fee— making this an ideal investment opportunity for international buyers.
Additionally, the whole ground floor is a commercial unit with a footprint of 25-foot by 100-foot in the rapidly developing Essex Crossing, a Seward expansion project of six acres and five billion dollars. The retail space generates an annual rent of $186,000.00 and expires in 9/30/2024. The B/D express trains are one short block away, with Roosevelt Park right around the corner, and all the attractions of the trendy Lower East Side just minutes away. The property value will only soar in this area in the near future. This desirable investment property currently has a net operating income of $657,978.000.
Listing Agents
![Howard Spiegelman]()
howard@compass.comP: 917.653.4219
![Tim Rothman]()
rothman@compass.comP: 917.251.4676
![Adam Melnick]()
amelnick@compass.comP: 718.614.4448
Amenities
- Loft Style
- Street Scape
- City Views
- Open Views
- Exposed Brick
- Hardwood Floors
- High Ceilings
- Walk Up
Location
Property Details for 281 Grand Street
| Status | Permanently Off Market |
|---|---|
| Days on Market | 285 |
| Taxes | $10,735 / month |
| Maintenance | $5,033 / month |
| Min. Down Pymt | 30% |
| Total Rooms | 28.0 |
| Compass Type | Multi Family |
| MLS Type | House/Building |
| Year Built | 1900 |
| Lot Size | 2,487 SF / 25' x 100' |
| County | New York County |
Building
281 Grand St
Location
Building Information for 281 Grand Street
Payment Calculator
$87,373 per month
30 year fixed, 7.25% Interest
$71,605
$10,735
$5,033
Property History for 281 Grand Street
| Date | Event & Source | Price | Appreciation |
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| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 281 Grand Street
Schools near 281 Grand Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
P.S. 42 Benjamin Altman PublicPK to 5 | ||
Nyc Lab Ms For Collaborative Studies Public6 to 8 | ||
Ms 131 Public6 to 8 | ||
Lower Manhattan Community Middle School Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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