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22 Bond Street
Confidentiality
THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use
in considering whether to pursue negotiations to acquire an interest in 22 Bond
Street, New York, New York ("The Property").
This Confidential Memorandum contains brief, selected information pertaining to the
business and affairs of the Owner, and has been prepared by Massey Knakal
Realty Services ("Massey Knakal") primarily from information supplied by the
Owner. Although this Confidential Memorandum has been reviewed by
representatives of the Owner, it does not purport to be all inclusive or to contain
all of the information which a prospective purchaser may desire. Neither
Massey Knakal, nor any of their officers, employees or agents make any
representation or warranty, expressed or implied, as to the accuracy or
completeness of this Confidential memorandum or any of its contents, and no
legal liability is assumed or to be implied with respect thereto.
By acknowledgement of your receipt of the Confidential Memorandum, you agree
that the memorandum and its contents are confidential, that you will hold and
treat it in the strictest of confidence, that you will not directly or indirectly,
disclose or permit anyone else to disclose this memorandum or its contents to
any person, firm or entity without prior written authorization of Owner, and that
you will not use, or permit to be used, this memorandum or its contents in any
fashion or manner detrimental to the interest of Owner. Photocopying or other
duplication is strictly prohibited.
Owner and Massey Knakal expressly reserve the right, at their sole discretion, to
reject any or all proposals or expressions or interest in the building, and to
terminate discussions with any party at any time with or without notice.
If you do not wish to pursue negotiations leading to this acquisition, kindly return this
confidential memorandum to Massey Knakal.
This Confidential Memorandum shall not be deemed a representation of the state of
affairs to the property or constitute an indication that there has been no change
in the business of affairs or the property since the date of preparation of this
memorandum.
22 Bond Street
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THE MASSEY KNAKAL ADVANTAGE FOR BUYERS
22 Bond Street
Offering Memorandum
22 Bond Street
Asking Price:
Submit Proposals
EXCLUSIVE AGENTS:
MASSEY KNAKAL REALTY SERVICES
275 MADISON AVENUE, 3
RD
FLOOR
NEW YORK, NEW YORK 10016
(P) 212-696-2500
(F) 212-696-0333
Caroline Hannigan
channigan@masseyknakal.com
(x7708)
J ames Nelson
jnelson@masseyknakal.com
(x7741)
Mitchell Levine
mlevine@masseyknakal.com
(x7761)
David Fowler
dfowler@masseyknakal.com
(x7734)
22 Bond Street
Table of Contents
Property Information
Property Overview
Proposed Renderings
As-Is Photograph
Proposed Floor Plans
Tax Map and Location
Survey
Neighborhood Information
Neighborhood Character
Neighborhood Map
Aerial Map
Retail Map
Zoning Map
Zoning Description
Transportation Description
Bus Map
22 Bond Street
Property Information
Location:
Block/Lot: 530 / Partial 19
(1)
Lot Size: 25'8" x 100' 1"
(1)
(As Per Survey)
Lot Size: 2,568 SF
(1)
(As Per Survey)
(1)
(The lot will be subdivided from 25 Great Jones Street which will be sold separately by Massey Knakal)
Proposed Building Information
Stories: 2 Includes Ground and Lower Level
Ground Floor 2,567 SF (approx.)
Lower Level 2,591 SF (approx.)
Gross Square Footage: 5,158 (approx.) Includes Lower Level
Zoning M1-5B
Historic District: NoHo Historic District Extension
Assessment (2010/2011): 73,518 $
(2)
RE Taxes (2010/2011): 10,756 $
North side of Bond Street between
Bowery and Lafayette Street.
(2)
(2)
The current assessment and RE taxes encompass the entire lot 19, which includes 25 Great Jones Street. A projection has
been made based upon 22 Bond Streets' SF percentage.
Submit Proposals
Ownership will consider an outright sale or a build to suit
The information contained herein has either been given to us bythe owner of the propertyor obtained fromsources that we deemreliable. We have no reason to doubt its accuracybut we do not guarantee it. All zoning, buildable footages and uses must be independently
verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment
income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue Third Floor New York, NY 10016 212.696.2500 Fax 212.696.0333
www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
Description:
This proposed two level, 5,158 SF retail building is located on Bond Street between Lafayette and Bond Streets. Currently, the property is a 3 story loft
building, but it will need to be redeveloped as air rights were transferred from it to 25 Great J ones Street. New plans have been approved by
Landmarks for a one story building with 20 high ceilings.
The proposed retail building is located in one of the most desirable downtown locations. The area is home to such notable fashion tenants as Billy
Reid, Rogan, J ohn Varvatos and Blue & Cream. The property will also benefit from its proximity to the high end developments at 25 Bond Street,
Cooper Square Hotel, Ian Schragers 40 Bond Street, and the Bowery Hotel. Nearby hotel suites can go for as high as $650/night as seen at the
Bowery and Cooper Square Hotels.
The site also benefits by its adjacent location to 25 Great J ones Street, a 25 wide contiguous 13 story, boutique hotel development which is available
separately by Massey Knakal; it could be combined to enlarge the hotels food and beverage space if needed.
22 Bond Street
Retail Development Opportunity Adjacent to a Boutique Hotel
New York, NY
J ames P. Nelson
jnelson@masseyknakal.com
212-696-2500 x7710
David Fowler
dfowler@masseyknakal.com
212-696-2500 x7734
Caroline Hannigan
channigan@masseyknakal.com
212-696-2500 x7708
Mitchell Levine
mlevine@masseyknakal.com
212-696-2500 x7761
For further information or inspection please contact Exclusive Agents:
22 Bond Street
Proposed Renderings (If Combined With 25 Great J ones Street)
22 Bond Street
Proposed Renderings (If Combined With 25 Great J ones Street)
22 Bond Street
Proposed Retail Elevation (If combined With 25 Great J ones Street)
Available separately through Massey Knakal
Included In This Offering
22 Bond Street
Available separately through Massey Knakal
Included In This Offering
Proposed Retail Elevation (If combined With 25 Great J ones Street)
22 Bond Street
Proposed Retail Elevation (If combined With 25 Great J ones Street)
22 Bond Street
As-Is Photo
22 Bond Street
Tax Map and Location
22 Bond Street, New York, NY
Tax Block: 530
Lot: 19 (Lot to be split from 25 Great J ones Street)
Location: South side of Great J ones between Bowery and Lafayette Street.
Subject Property
25 Great J ones Street is available through Massey Knakal separately
22 Bond Street
As Built Survey
22 Bond Street
Neighborhood Character- NoHo
22 Bond Street is located in NoHo which is roughly bounded by Houston Street on the south, the Bowery
and Third Avenue on the east, 8th Street on the north, and Broadway on the west.
According to New York Magazine NoHo, short for North of Houston, is home to an ever growing affluent
community. The neighborhood is comprised of lawyers, bankers, and those who prefer the downtown style
of living for its abundance of cultural amenities which can only be found here. Filmmakers and fashionistas
reside in renovated tenements, drawn by nightlife and shopping. Celebrities in the neighborhood include the
likes of David Bowie and Lauren Hutton who live in airy conversions on Lafayette Street. The area has
experienced a resurgence over the last few years with high end rental developments by Avalon Bay, along
with boutique hotels and luxurious condominium developments. The area has seen a dramatic
transformation over the last three years into one with chic boutiques and European style cafes. Such
growth creation especially on the high end luxury market has driven retailers to establish a presence in the
area. 22 Bond Street is centrally located and well positioned to capitalize from this growing trend.
NoHo has still maintained its quiet, "old-time" SoHo feel. New eateries like Double Crown, Freemans join
old standbys such as IL Buco. Among many other significant buildings in the area are the architecturally
distinct Puck, De Vinne Press, and Bayard-Condict Buildings. NoHo is a mecca for dinning, entertainment,
and the likes. Lafayette Street and the surrounding areas host several Off-Broadway shows and theaters
which include The Public Theater, The Astor Place Theater, J oes Pub, and the Amato Opera.
22 Bond Street
Neighborhood Character- NoHo
HOTELS
Since its opening, The Bowery Hotel, which is the latest venture from the creators of the Maritime
Hotel, continues to attract locals as well as tourists. The Super-luxe Cooper Square Hotel which
recently opened, promises to redefine downtown luxury living with high end appointed finishes while
providing top notch amenities for its guests. These hotels cater to exclusive clientele and enjoy
extremely high occupancy rates year round and will undoubtedly drive foot traffic surrounding the
retail property.
RETAIL
Noho has become one of the leading sources of creativity for the fashion and retail industries as well as
all forms of designer merchandise. Soaring rents in midtown along Madison and Fifth Avenue continue
to drive retailers south to the Noho area in search of lower rents. In fashion, J ohn Varvatos, Blue &
Cream, and others can be spotted on a casual walk through the neighborhood.
EDUCATION
New York Universitys campus is centered around Washington Square Park, a short walking distance
from 22 Bond Street. Many teachers and students are housed in the surrounding area and the NYU
Bus can be seen regularly making its way down West Broadway, across Spring, down Broadway or up
Lafayette. The school has an enormous influence on New York City and the Noho and SoHo area in
particular. The Drawing Center serves the artistic community and the Open Center offers numerous
non-traditional courses.
22 Bond Street
Neighborhood Character- NoHo
SCHOOLS
Families attracted to the area will benefit by the variety of schools and activities for their children. Public
schools for the area include the highly rated PS130 for elementary school and PS 65 for J unior High.
Private school options for children include The City & Country Day School, Little Red School House, and
the Grace Church School.
RESTAURANTS
Older original restaurants include Il Buco which opened in 1994, and quickly became an in-the-know
favorite. Excellent fare is available on every corner, as some of the citys most talented chefs have been
brought into the area. Noteworthy restaurants include Five Points, Peasant, Bond Street Sushi, Double
Crown, Freemans, and Gemma. One of the most exciting new openings was the arrival of world
renowned and 4 Star New York Times rated chef Daniel Boulud. Mr. Boulud opened DBGB in 2009, this
casual yet elegant eatery is located at 299 Bowery and is be designed for adults who appreciate great
food and wines in a comfortable setting with a downtown vibe.
22 Bond Street
Neighborhood Map
22 Bond Street
22 Bond Street
Retail Map
22 Bond Street
December 18, 2008 -- THE Bowery's reputation is well-known. Originally a bucolic country lane leading to Peter Stuyvesant's
farmhouse, the street took a downhill slide some 150 years ago and has been an international byword for hard living ever since. Street
gangs, brothels, flophouses, J oey Ramone - at one time or another, the Bowery has played host to them all. Of the many Manhattan
areas to have transformed over the last decade, the Bowery has to rank among the unlikeliest. Transform it has, though. Homeless
shelters like the century-plus-old Bowery Mission still dot the street, and lighting and restaurant supply stores still dominate the retail
scene, but gentrification is most definitely on the march. Recent arrivals in the area include Ian Schrager's 40 Bond condo building
(where units have fetched more than $3,000 per square foot), the celeb-friendly Bowery Hotel, the New Museum, the Double Crown
restaurant and the J ohn Varvatos store in the former CBGB space. These newcomers join the Avalon Chrystie (with its Whole Foods)
and Avalon Bowery developments (with a planned Veselka restaurant), two rental buildings with studios starting at $2,600, one-
bedrooms at $3,550 and two-bedrooms at $5,100. And the much-anticipated Cooper Square Hotel just opened last week. Miami/Los
Angeles star chef Govind Armstrong's Table 8 restaurant will open in the hotel early next year. Yes, the Bowery is booming. Prudential
Douglas Elliman broker Rob Gross has worked in the area for more than 20 years. He remembers selling real estate on the Bowery in
the early '90s, returning on some occasions from showing apartments to find his car broken into. "It was definitely off the grid a bit back
then," he says. Today, Gross is handling the new Bowery and Bleecker development - a three-unit building of floor-through condo lofts
that includes an 1,862-square-foot penthouse with a private roof deck that's listed for $3.1 million. With Poliform kitchens, 50-inch
plasma-screen TVs and prices starting at about $1,500 a square foot, the building is a world away from the formerly dodgy Bowery.
And this project isn't an isolated case. Bond Street just west of the Bowery has become a regular menagerie of upscale development,
with high-end buildings like the Deborah Berke-designed 48 Bond (about $1,700 per square foot) and 25 Bond (about $2,100 per
square foot) joining Schrager's building to create one of the city's priciest blocks. At 211 Elizabeth - a new 15-unit building one block
west of the Bowery below Houston - the penthouse unit set a neighborhood record earlier this year when it sold for roughly $3,200 per
square foot.Then there's 52E4, a new 15-unit building on the Bowery between Third and Fourth streets that counts the musician Moby
among its buyers.
Lawyer Bruce Bernstein recently purchased an apartment in the development (where prices have averaged about $1,850 per square
foot), scheduling an appointment to see the building the same day he discovered it online and quickly making an offer on a one-
bedroom. Currently renting on the Upper East Side, Bernstein wasn't especially familiar with the Bowery, but he's since come to enjoy
his future area's ever-expanding offerings. "There are a lot of new bars and restaurants coming up," he says. "The Bowery Hotel is right
next door. It's a great area, and it seems to be growing even more. And while the Bowery hasn't escaped the real estate slump and
credit crisis untouched, it's remained a relatively strong performer, Gross notes. "Given that the market is challenging right now, traffic
[at Bowery and Bleecker] has been pretty steady," he says. "I'm showing that more than anything else. Core Group Marketing
managing director Fredrik Eklund, who's representing 52E4, has seen similar interest. "This is the building we have the most traffic on,"
he says, noting that roughly half of the development's apartments sold during this summer's slow sales market. On the market for just
less than a year, the building is sold out save for two two-bedroom units (going for $2.3 million and $2.4 million).
Not, of course, that the Bowery is for everyone. As Eklund admits, recent changes aside, the street still retains a bit of its famed grit.
"You see very few families down here," he says. "It's not a quiet tree-lined street. It has the drama, the rock 'n' roll history, but it's not a
traditional family neighborhood. And for some brokers, the street's name still seems to call up unpleasant associations they'd just as
soon their properties do without."I'mnot sure if we're really . . . appropriate for a story about the Bowery," replied one agent in response
to an inquiry about her condo building in the area.
Nonetheless, the thoroughfare's transformation continues. "The Bowery is one of the last areas in New York to experience a kind of
seismic shift," says self-storage magnate and neighborhood developer Adam Gordon. "It's an interesting bridge neighborhood. It's at the
crux of NoHo, SoHo, the East and the West Village. There are few places that have the access that this neighborhood does. Gordon
owns a plot of land just off the Bowery at 41 Bond St., which he plans to develop as an eight-unit luxury condo building once the
financing environment improves. He also owns the Bouwerie Lane Theatre building at the corner of Bond and Bowery, part of which
he's recently turned into three condos. One apartment is reserved for Gordon himself, and he plans to put the other units - a 5,200-
square-foot triplex penthouse and a 2,500-square-foot full-floor apartment - on the market in March. Also coming to the once-seedy
street: a new five-unit residential building at 263 Bowery from developer Shaky Cohen, a 152-unit luxury rental building at 2 Cooper
Square, a Lord Norman Foster-designed gallery building at 257 Bowery and restaurants from Keith McNally and Daniel Boulud. It's the
Cooper Square Hotel, however, that provides perhaps the best metaphor for today's Bowery. Because two residents of the apartment
building next door at 27 Bowery refused to give up their units, the hotel was forced to build around them and incorporate their building
into its design. And so at the northern end of the street, there sits an old brick tenement building that from the sidewalk looks as if it
were being swallowed up by a sleek, glassy high-rise hotel. It's old versus new - and these days new would seem to have the upper
hand. Or, as Gordon says when asked if he fears the loss of old, edgy Bowery he once knew, "I don't think it's fear. It's an inevitability.
Gordon adds: "I don't pine for the Bowery of 50 years ago. It was a hole."more.
By ADAM BONISLAWSKI
TAKE A BOWERY
22 Bond Street
Aerial Map
22 Bond Street
25 Great J ones Street is available through Massey Knakal for purchase separately
Subject Property
22 Bond Street
Great J ones Day Spa
22 Bond Street is located around the block from the famous Great J ones Spa.
An excerpt from www.greatjonesspa.com:
At Great J ones Spa, we believe in the power of intention. Every inch of our sanctuary is a reflection of our
mission statement: our passion is to inspire health and happiness through wholeness and balance. We have
painstakingly and lovingly created a haven for your comfort, to inspire optimal wellness from the inside-out.
Everyone that steps inside our doors quickly learns that health and beauty are inextricably linked. You may
simply come in searching for a youthful elixir but youll go home with far more than you expected.
Great J ones Spa philosophy is based on eastern concepts of spiritual harmony and balance. After extensive
research of cutting edge and ancient natural therapies across the globe, weve designed our menu of
treatments to create a distinctive experience for our clients. The body is meant to self-correct, but our harsh
environment often blocks our innate ability to heal ourselves. From stress, to chemical toxins, to lack of sleep;
recalibration is a necessary fact of life. At Great J ones Spa, we teach our clients to regain their natural
balance through our water cure and a multitude of luxurious, relaxing treatments. It goes without saying that
all of our products are pure, natural, environmentally-friendly, and sourced with your good health in mind.
Everyone that youll meet at Great J ones Spa is trained to promote your wellbeing, from the front desk staff to
your skilled esthetician. Inner balance promotes true beauty, and we all strive to make sure your experience is
ideal, stress-free, and perfectly relaxing. Our regular clients often tell us that a few hours at Great J ones Spa
is the equivalent to a weeklong vacation. Our stunning spa facilities, including the breathtaking 15,000 square
foot, 3 story waterfall, are a wonder to behold. Once you enter our doors, all you encounter is pure beauty
and serenity.
Our spa is a refuge from the world outside. Come in, get centered, and reset your mind and body to a
perfectly harmonized pitch.
22 Bond Street
Zoning Information
New York Citys zoning regulates permitted uses of the property; the size of the building
allowed in relation to the size of the lot (floor to area ratio); required open space on the
lot, the number of dwelling units permitted; the distance between the building and the
street; the distance between the building and the lot line; and the amount of parking
required.
22 Bond Street is zoned M1-5B
The following pages further explain this zoning.
22 Bond Street
22 Bond Street
Zoning Information
22 Bond Street
Zoning Information
22 Bond Street
Subway Map
22 Bond Street
22 Bond Street
Bus Map
22 Bond Street
22 Bond Street
Transportation Description
Besides the diversity of services and amenities located in the immediate vicinity 22
Bond Street has excellent access to major transportation facilities. The Bleecker
Street and Broadway-Lafayette subway stops are within easy walking distance,
providing access to all areas of Manhattan, and to the Bronx, Brooklyn, and
Queens.
By car, there is relatively easy access to the Holland tunnel to New J ersey, and the
Brooklyn-Battery tunnel to Brooklyn. The area is equally accessible to Newark and
LaGuardia airports.