Total Est. Monthly Carrying Cost:
$148,941 ($34.24/ft2)
Note: the above is based on a down payment of 20% ($5,000,000),
which is the minimum amount permitted by the building.
Description
Introducing a one-of-a-kind duplex penthouse with two private outdoor rooftop terraces in a boutique condo within the fabled SoHo Cast-Iron Historic District.
The penthouse in 25 Mercer offers a modern interpretation of the classic SoHo loft, balancing perfectly restored cast iron detailing with sophisticated modern design. It is a magnificent, light-filled duplex penthouse crowned with a spectacular private rooftop. The interior (4,350 square feet) provides north, east, and west exposures coupled with a skylight that floods the palatial living space with brilliant natural light.
The private and exclusive rooftop (2,618 square feet) is an oasis in the sky, offering panoramic 360-degree views of downtown Manhattan.
More than a prominent residence, the penthouse presents a strong investment opportunity with a net operating income of $639,708 and CAP rate of 2.5% given the total monthly carrying costs of $11,691 (taxes + common charges) and monthly rental potential of $65,000 per month.
Built in 1867, the building represents the architectural beauty of New York's elegant Gilded Age, updated with a refined contemporary sensibility.
Mercer Street is one of the most desirable cobblestone streets in SoHo, which represents the sophisticated intersection of fashion, art, dining, and business.
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