109 READE Street #5
About This Property
Full-floor three bedroom/two bathroom condo loft in prime Tribeca!
Located on one of Tribeca's most sought-after blocks, the keyed elevator opens directly into this charming loft. Upon entry, you will be taken aback by all of the charming loft details of the home: original beamed ceiling, exposed brick walls, recently re-done oak flooring, gas fireplace, large windows looking onto copper-adorned historic buildings buildings, and much more.
The front bedroom features a unique lofted area perfect for home office, play area, guest sleeping room, additional storage, etc. In addition to great natural reflective light, the living room has recessed lighting.
The chef's kitchen features full-sized stainless steel appliances, bar seating for two, a plethora of storage, and plenty of room for a large dining table.
The home also features a large amount of storage, one of the closets adjacent to the kitchen containing a Bosch washer/dryer.
Both the primary and secondary bedrooms benefit from extraordinary ceiling heights and exposed brick walls lending a Downtown charm to the generously-sized spaces. The primary bathroom is enormous with a double-wide vanity, large bathtub, separate standup shower, and statuary marble throughout. The secondary bathroom benefits from the same custom fixtures and statuary marble.
See alternate floorplan showing the loft set up as a two bedroom with an even larger living area (this would be a fast and inexpensive alteration).
109 Reade Street is a boutique condominium that was built in the late 19th century and originally occupied by HL Mulford & Co. It is surrounded by other equally gorgeous historic loft buildings. It's also a stone's throw from some of the best dining in the Western Hemisphere and surrounded by subway access: namely the 1, 2, 3, A, C, E, 4, 5, 6, J, and Z trains. It's also to note that the building's lobby is currently under renovation and that the condo has a virtual doorman system.
Please note there is an ongoing assessment of $300 per month.
Listed By
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
You can learn more about cap rate here .
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Sep 24, 2024 | Price Decreased |
$2,350,000
↓ $150K
(6%)
|
|
Price Decreased | |||
Jul 12, 2024 | Listed by Brown Harris Stevens Residential Sales LLC | $2,500,000 | |
Listed by Brown Harris Stevens Residential Sales LLC |
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
11/07/2018
|
2 Bed
|
2 Bath
|
1500 ft²
|
$2,395,000
2 Bed
2 Bath
1500 ft²
|
$2,395,000
04/01/2019
|
-
|
Mark Blackwell
Compass
|
|
08/09/2013
|
3 Bed
|
2 Bath
|
1500 ft²
|
$1,995,000
3 Bed
2 Bath
1500 ft²
|
$1,950,000
-2.26%
02/08/2014
|
-
|
Natalie Pepe Esposito
R New York
|
Building Info
- 7 Units
- 1 Unit for Sale
About Downtown Manhattan
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