ERG Property Advisors Announces Availability of Prime Mixed-Use Building on Lower East Side

FOR IMMEDIATE RELEASE
new york city, New York, United States of America (Free-Press-Release.com) December 12, 2011 -- ERG Property Advisors is pleased to announce the availability 355 Grand Street also known as 51 Essex Street, a prime mixed-use property in New York, NY. The building is located on the corner of Grand and Essex Streets, in the Lower East Side neighborhood of Manhattan.

The asking price for the property is $4,500,000. The building is 3,200 square feet and is located on a 1,173-square-foot lot. It has approximately 7,061 total buildable square feet.

The three-story property is comprised of two retail stores, one 2-bedroom apartment and one 1-bedroom apartment with outdoor space. The retail tenants pay their own heat and hot water. The building is equipped with a four year old boiler. All units in the property are currently leased. The building can be delivered vacant in just over a year.

There is a high amount of daytime foot traffic outside of the property. The area is relatively quiet at night and ideal for residential development.

The property is located in a prime location on the Lower East Side, in close proximity to public transportation, including the B, D, F, J, M and Z subway lines.

For more information about this property, please contact James D. Kinsey at (646) 253-0923 or jkinsey@ergpa.com or Clinton A. Botway at (646) 253-0930 or cbotway@ergpa.com.

About ERG Property Advisors

ERG Property Advisors is a full-service commercial 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. Visit www.ergpa.com for recent deals and press coverage.

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