105-107 Eldridge Street is a 4-story walk-up mixed-use building located in Manhattan’s Lower East Side, between Grand Street and Broome Street. The property consists of 18 free-market residential units and 2 ground-floor retail units.
The asset is offered at $15,400,000. Based on the Historical Operating Statement (Cash Basis) for Jan 2024 through Dec 2024, Total Revenues were $868,176.00 and operating expenses (excluding income tax) were $318,242.85, resulting in an Actual NOI of approximately $549,933.15 (3.57% cap rate at asking).
On a stabilized (pro forma) basis, Total Revenues are projected at approximately $1,248,600.00 with operating expenses (excluding income tax) assumed at approximately $318,242.95, resulting in a Pro Forma NOI of approximately $930,357.05. This represents an estimated 6.04% cap rate at the $15,400,000 asking price.
All information is deemed reliable but not guaranteed. Buyer to verify all facts and figures through independent due diligence. This offering is subject to errors, omissions, prior sale, and change of terms without notice.