109 Eldridge St - Apartments FOR SALE


New York, NY 10002- Bowery
$9,250,000 USD
212-230-5998
109 Eldridge St, New York, NY for Sale
$9,250,000 USD
Apartments - FOR SALE
1/14
null | 6% Cap Rate

109 Eldridge St
New York, NY 10002
Bowery


HIGHLIGHTS

  • Strong In-Place Cash Flow
  • Value-Add Potential
  • Proximity to the B D F M J Z Subway Lines
  • Prime Bustling LES Location

OVERVIEW

Avison Young, as exclusive agent, is pleased to offer for sale 109 Eldridge Street (the “Property”), a six-story mixed-use walk-up building located on the west side of Eldridge Street between Broome Street and Grand Street in the heart of Manhattan’s Lower East Side. The Property comprises twenty (20) residential units over two (2) ground-floor retail spaces across 11,562± square feet. Of the residential units, nine (9) are free market, nine (9) are rent stabilized, and two (2) are rent controlled. Of the rent stabilized units, three (3) are achieving market rent from taking possession of a rent controlled unit and unit combinations. While the units are well maintained, there is room to grow the rents in all the free market units through light cosmetic renovations and future upside with recapturing the rent controlled units.

FOR SALE DETAILS

PRICE

$9,250,000 USD

PRICE/SF

$800 USD /SF

# OF UNITS

20

PRICE/UNIT

$462,500

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

C44A

APN/PARCEL ID

0418-0047

ASK ABOUT THIS PROPERTY

Brandon PolakoffAvison YoungMore Info
212-230-5998

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Brandon PolakoffAvison YoungMore Info
212-230-5998

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.