ERG Hired Exclusively to Represent Loft Building in Lower East Side

Online, August 18, 2012 (Newswire.com) - ERG Property Advisors is pleased to have been named the exclusive broker for 55-57 Canal Street in Manhattan's Lower East Side.

The subject property is a 5-story, elevatored loft building with a full basement located on the North-West corner of Canal Street and Orchard Street. The building is currently occupied with a NN Lease tenant with a lease expiration on December 31st, 2012.

The property will need total gut renovation. There is an additional 1,403 Square feet of air rights available for further development. The property is located on an excellent corner on the Lower East Side. It benefits from great light and air and superb retail visibility. The zoning allows for both residential and commercial uses.

The asking price for the property is $22,000/Month NNN.

For more information about this property, please contact Clinton Bothway at (646) 253-0968. His email is [email protected].

About ERG Property Advisors

ERG Property Advisors is a full-service commercial real estate brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Visit www.ergpa.com for recent deals and press coverage.

Founded by real estate industry veterans with over 50 years of combined experience, ERG Property Advisors offers not only exceptional service to clients, but also an exceptional work environment to our employees. Our innovative team structure encourages ERG brokers to work collaboratively with one another. "Real estate is already a very competitive market", says CEO Jim Kinsey, "so, at ERG we want our brokers to work with one another instead of against one another. We believe that internal collaboration is key to a healthy work environment and better client service."

ERG's submarket system allows agents to become experts of a particular neighborhood. Submarket experts stay up-to-date on critical real estate information, including price per square foot, average rents, trends, and new zoning laws affecting the area, and become a vital resource to colleagues and clients. In addition, as a strongly relationship-based firm, we prioritize the development of careers. Our mentorship philosophy has driven us to develop the best one-on-one training in the industry.