Meridian Investment Sales is pleased to present the exclusive offering for 114 Delancey Street, a three-story mixed-use, commercial building located in the heart of the esteemed Lower East Side neighborhood, situated on the Northwest corner of Essex and Delancey Streets. Built in 1997, the property includes six commercial spaces across four levels (cellar, round floor, second floor and third floor). Occupying 6,455 RSF between the cellar, ground floor, and second floor, the property is anchored by McDonald's (‘BBB+’ rated by Standard & Poor’s and a Moody’s rating of ‘Baa1’), a credited tenant on a long-term lease through 2036. The lower level is occupied by Sour Mouse (4,960 RSF), an entertainment venue with a bar, game room and improv stage, and the ground floor is occupied by Zaza Go Smoke Shop 420 RSF). There is currently one vacant space on the ground floor (2,298 RSF), previously occupied by Rainbow Stores. The second floor has 9,760 RSF leased, and the third floor has 7,500 RSF vacant (full floor). Combined there is approximately 26,000 GSF which includes 26,433 SF of RSF. The property has 65’ of frontage on Delancey Street and 100’ of frontage on Essex Street.

Additionally, with zoning of C6-2A / R8A, there is approximately 16,000 SF of air rights. Under the City of Yes Zoning initiative, the building qualifies for the Universal Affordability Preference, which permits a 20% increase in size, provided the additional space is dedicated to permanently affordable housing. This increases the FAR from 6.02 to 7.2, yielding an additional 23,832 SF of air rights.

Price: $25,000,000 | Submit Offers