118 Orchard St - Apartments FOR SALE


New York, NY 10002- Lower East Side
$37,000,000 USD
212-660-7706
118 Orchard St, New York, NY for Sale
$37,000,000 USD
Apartments - FOR SALE
1/13
null | 4.76% Cap Rate

118 Orchard St
New York, NY 10002
Lower East Side


OVERVIEW

arrange the sale of the luxury apartment building at 86 Delancey Street (aka 118 Orchard Street), New York, NY 10002. Also named The Orchard, this 31 unit, 12-story building is located on the most sought-after street corner in the ever-expanding and exciting Lower East Side of Manhattan. Each of the 29 residential units has an amazing private balcony and a view of Manhattan’s beloved skyline, as well as access to a trendy rooftop terrace. 86 Delancey also includes 2 retail stores and billboard signage revenue. Construction was completed in April 2020. The building was built under 421A Tax Abatement program and enjoys a 35 year tax abatement. As a result, 9 units are under Rent Stabilization, and 20 units are Free Market. The apartment layouts include 3 three-bedroom units (including 2 Penthouse units), 24 oversized one-bedroom units, and 2 large studio units. The apartments enjoy high end finishes, generous layouts, panoramic windows, and more. The property presents a unique opportunity for a buyer to purchase a newer construction elevator building in a best-in-class location, at the epicenter of retail and tourism, in the Lower East Side of Manhattan.

FOR SALE DETAILS

PRICE

$37,000,000 USD

PRICE/SF

$1,257 USD /SF

# OF UNITS

31

PRICE/UNIT

$1,193,548

CAP RATE

4.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

12

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,437 SF

ZONING

C6-2A

APN/PARCEL ID

0410-0034

ASK ABOUT THIS PROPERTY

Bryan HurleyCushman & WakefieldMore Info
212-660-7706

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Bryan HurleyCushman & WakefieldMore Info
212-660-7706

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