
Courtesy of: Marshal Li, Compass, marshal.li@compass.com
$3,300,000
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10 bed
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20.00 Bath (20 Full)
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Other
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$3,300,000
67 Ludlow Street After more than four decades in the same family's hands, 67 Ludlow Street comes to market for the first time, offering investors a rare opportunity to acquire a fully occupied mixed-use walk-up in the heart of the Lower East Side. The property comprises 20 rent-stabilized residential units and a long-standing ground-floor retail tenant, generating $368, 737 in gross annual income and $214, 693 in NOI. At the $3, 300, 000 asking price, 67 Ludlow St delivers a 6.5% cap rate on in-place actuals, $157, 143 per unit, and roughly $340 per gross square foot, a compelling entry point for a Manhattan asset of this caliber. Situated just two blocks from the Delancey-Essex Street transit hub and steps from Essex Crossing, the building benefits from one of downtown Manhattan's most dynamic and consistently appreciating submarkets. The 25 by 87 lot carries C4-4A zoning, and the ground-floor commercial tenant is secured through 2043 with a 3% biennial rent escalations.
Courtesy of: Marshal Li, Compass, marshal.li@compass.com
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