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cjared036 
Alabama Fan
Houston, tx
Member since Dec 2009
3965 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 1:37 am to Chaz95)
With a legit functioning bar? Not a bad deal. Just hire a respectable bar manager to come in and run the place.
If you have to put money into bar? Update? Ill pass
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CidCock 
South Carolina Fan
Member since Sep 2007
Member since Feb 2011
4225 posts
 Online
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 6:33 am to cjared036)
is Puffy's Tavern still below?
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Trace
Member since Dec 2012
265 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:07 am to GeauxTGRZ)
You could probably get the same building in LES for 2MM less.
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trillhog
Elite Membership
Member since Jul 2011
14558 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:17 am to GeauxTGRZ)
this more my style i like to swim laps
LINK
and that's a deal for Tribeca, there's 20 million plus places all over that neighborhood.
This post was edited on 12/5 at 7:18 am
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nycajun 
LSU Fan
Nothin' could be finer.....
Member since Dec 2004
16888 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:24 am to GeauxTGRZ)
It's an investment property. Income from bar and residential tenant probably covers amortization of debt equal to 70% of price.
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dewster 
Maryland Fan
TN
Member since Aug 2006
4736 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:36 am to GeauxTGRZ)
It's 17 feet wide....not my first choice.
What would the rental income be for that?
This post was edited on 12/5 at 7:37 am
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trillhog
Elite Membership
Member since Jul 2011
14558 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:38 am to GeauxTGRZ)
i had a laundry mat and an indian restaurant on the first floor of my building in nyc, tiki masala all the time
This post was edited on 12/5 at 7:38 am
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Northgate
LSU Fan
Member since Jul 2012
2279 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:39 am to dewster)
quote:
It's an investment property. Income from bar and residential tenant probably covers amortization of debt equal to 70% of price.
So you have to rent that tiny bar for like $40,000 per month, and the residential tenant is paying $30,000?
Hmmm ... Not sure I'd got that route with six mil.
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hobotiger
LSU Fan
Hoboken, NJ
Member since Nov 2007
2455 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:40 am to dewster)
Rent would be easy 5 figures, if I can rent my place out in Hoboken for $4k, i would say that would be 20K minimium
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Northgate
LSU Fan
Member since Jul 2012
2279 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:42 am to hobotiger)
Yeah. You have taxes and fees, bus the note, plus utilities, repairs, etc. it would have to rent for 20k minimum. The bar more.
But, how many drinks would the bar have to sell to make that?
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LSUPOKEY
LSU Fan
Baton Rouge
Member since Jun 2008
58 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:48 am to Northgate)
The bathroom in the first one looks like a hospital bathroom? They can take that dump and shove it up their can.
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vl100butch
LSU Fan
Vicksburg, MS
Member since Sep 2005
23171 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 7:57 am to LSUPOKEY)
I'd also be checking the NYC flood zone maps......
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Alatgr
LSU Fan
Mobeezy, Alabizzle
Member since Sep 2005
13405 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 8:25 am to GeauxTGRZ)
quote:
$6.5 million Townhouse in Tribeca
Doesn't seem unreasonable at all for NYC, especially with the bar you can rent out, no?
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trillhog
Elite Membership
Member since Jul 2011
14558 posts
| re: $6.5 million Townhouse in Tribeca (Posted on 12/5/12 at 8:41 am to Alatgr)
idk the sqft but it's around 1,000k per foot for a fully renovated nice place in that area.
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