32 Orchard Street Hits the Market for $8M
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It seems that longtime Lower East Side exterminators, M&M Environmental, might need to start looking for new office space. A real estate listing hit the market yesterday that pimps 32 Orchard Street as a great “investment opportunity.” Enough to justify the asking price of $8 million by current owner, Staten Island-based Stormcat Realty LLC.
Here we go again.
Keller Williams NYC apparently has the exclusive on the funky three-story walkup. Broker babble promises that the entire building can be delivered vacant, including the commercial unit and both market rate loft apartments (3 bedroom, 2 bathroom).
Both office units will be delivered vacant and the leases of two apartments expire on 11/30/2015 and 2/29/2016.
These bright apartments are equipped with washer/dryer in unit, open chef s kitchen with caesarstone countertops, dishwasher and stainless steel appliances. The apartments have hardwood floors throughout and 9 high ceilings. New owners may open up the ground floor layout and change to bigger showcases and entrances for spacious retail or commercial space. Currently it is divided in two offices. The ceiling is very high on the ground floor, thus it has mezzanine.
The property would be ideal for an owner user or an investor. C6-2 zoning allows the building to be a Mixed Residential and Commercial Building as is, or an office building with retail.
Unfortunately, the unique character of 32 Orchard Street is threatened, thanks in large part to the available 5,000 square-feet of additional air rights.