DETAILS

 
230 N 3rd Street Offering Memorandum by Power Plant Productions
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Highlights

  • In the heart of Old City

  • 28,470 SF | Building

  • 9,527 SF | Lot

  • 15 HVAC units installed, supporting multi-tenant flexibility and independent climate control

  • 8 hot water heaters serving multiple use configurations

  • 15 bathrooms constructed or upgraded, enhancing usability for office, venue, or production users

  • 8 gas meters and 10 electric meters, allowing efficient sub-metering and leasing flexibility

  • Full building emergency lighting, exit signage & life-safety system

 

This offering presents a rare opportunity to acquire a character-rich, irreplaceable commercial asset in the heart of Old City offering a compelling blend of current utility, character, and future value creation.

230 N 2nd Street (the “Property”) is a distinctive, brick-front building currently improved with loft-style venue/production / offie space offering an owner or investor a highly functional footprint in a central, historic location.

The asset is well-suited for a variety of uses, including a single-tenant headquarters or a multi-tenant commercial building. An investor can capitalize on the property’s existing improvements and Old City address while pursuing future upside through strategic lease-up, reconfiguration of interior spaces, and capturing market-rate rents over time.

Institutional-Grade Infrastructure Beneath Historic Character

Over 29 years of ownership, the building has benefited from thoughtful capital investment focused on preserving its historic character while enhancing functionality, safety, and long-term mechanical reliability. The result is a distinctive Old City asset with meaningful infrastructure upgrades already completed - reducing future capital needs for an incoming owner.

Architectural Enhancements and Design Improvements

  • Thermal storefront curtain wall & new windows improving street presence and energy performance

  • Lowered front window ledge, creating stronger curb appeal and enhanced visibility from the sidewalk

  • Glass block hallways inspired by historic subway architecture, adding natural light and unique industrial character

  • Sixteen-foot vaulted ceiling installation (Unit 1A), enhancing volume and creative workspace appeal

  • Restored smokestack, reinforcing the building’s iconic identity and branding potential

Structural Access & Circulation Upgrades

  • New front and rear staircases (Levels 1-3)

  • Steel circular staircase (Levels 2-3), providing functional connectivity and architectural interest

  • Six fire-rated doors were installed, improving safety and compliance

 

Property
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