155 Rivington St - Apartments FOR SALE


New York, NY 10002- Lower East Side
$8,400,000 USD
718-360-8827
155 Rivington St, New York, NY for Sale
$8,400,000 USD
Apartments - FOR SALE
1/27
null | 5.67% Cap Rate

155 Rivington St
New York, NY 10002
Lower East Side


HIGHLIGHTS

  • Fully Free Market Mixed Use Building in Lower East Side
  • Fully deregulated, statutorily free market asset following office-to residential conversion
  • Efficient expense profile, with tenants responsible for heat and hot water; approximately 18% tax expense ratio
  • Mark-to-market opportunity in the retail component, with current rent negotiated during the COVID-19 pandemic
  • Recently constructed asset with minimal anticipated capital expenditures

OVERVIEW

Investment Property Realty Group, LLC is pleased to present the exclusive offering of 155 Rivington Street, a fully deregulated mixed-use asset located in the heart of Manhattan’s Lower East Side. The property is offered at $8,400,000, representing a 5.67% going-in cap rate. The building spans approximately 8,800 square feet and consists of six free market residential units and one ground-floor retail space. Originally converted from office to residential use, the property features a desirable unit mix of two-bedroom/one-bath and four bedroom/two-bath layouts, catering to strong rental demand in the submarket. The approximately 2,200 square foot retail space is leased to WhitFit NYC, a boutique infrared fitness and Pilates studio with a loyal and growing membership base. The tenant has a long-term lease in place through August 2032, providing stable and predictable income. Situated just steps from the J, M, Z, and F subway lines, 155 Rivington Street is surrounded by the Lower East Side’s vibrant dining, nightlife, and retail corridors. The neighborhood continues to experience strong residential demand and increasing institutional interest, driven by ongoing luxury development and its prime downtown location. 155 Rivington Street presents investors with a compelling opportunity to acquire a fully free market asset with stable in-place cash flow and meaningful upside potential.

FOR SALE DETAILS

PRICE

$8,400,000 USD

PRICE/SF

$955 USD /SF

# OF UNITS

6

PRICE/UNIT

$1,400,000

CAP RATE

5.67%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R7-A

APN/PARCEL ID

0348-0017

ASK ABOUT THIS PROPERTY

Justin ZeitchikInvestment Property Realty GroupMore Info
718-360-8827

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Justin ZeitchikInvestment Property Realty GroupMore Info
718-360-8827

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