67 Ludlow St - Apartments FOR SALE


New York, NY 10002- Lower East Side
$3,300,000 USD
917-216-0661
67 Ludlow St, New York, NY for Sale
$3,300,000 USD
Apartments - FOR SALE
1/6
null | 6.5% Cap Rate

67 Ludlow St
New York, NY 10002
Lower East Side


HIGHLIGHTS

  • Prime Lower East Side Mixed-Use Property
  • Asking Price: $3,300,000
  • Cap Rate: 6.5% on actual in-place income
  • 20 residential units (all rent-stabilized) plus 1 ground-floor retail
  • Price per Unit: $157,143

OVERVIEW

67 Ludlow Street is a 21-unit mixed-use walk-up offered for sale for the first time in over four decades. The property comprises 20 rent-stabilized residential units and one ground-floor retail space, fully occupied at 100%, generating $368,737 in gross income and $214,693 in net operating income. At the asking price of $3,300,000, the asset reflects a 6.5% cap rate on in-place actuals, a $157,143 price per unit, and approximately $340 per gross square foot. The building is positioned in the heart of Manhattan's Lower East Side, within two blocks of the Delancey-Essex Street transit hub and the Essex Crossing development. The lot measures 25 by 87 feet with C4-4A zoning. The ground-floor commercial tenant operates under a long-term lease through 2043 with contractual 3% biennial escalations. This offering presents a sophisticated investor with a stabilized Manhattan cash-flow asset at a sub-$3.5M entry point, with operational optimization opportunities available to a buyer experienced in rent-stabilized portfolio management.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$331 USD /SF

# OF UNITS

20

PRICE/UNIT

$165,000

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

C4-4A

APN/PARCEL ID

0408-0020

ASK ABOUT THIS PROPERTY

Marshal LiCompassMore Info
917-216-0661

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Marshal LiCompassMore Info
917-216-0661

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