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… Read More 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. Read Less
Listing Courtesy of: Marshal Li, Compass
Listing Snapshot
Days Online
9
Last Updated
Property Type
MixedUse
Full Baths
20
Square Ft.
9,972
Year Built
1900
MLS Number
RLS20086904
30 Days Snapshot Of 10002
$1.10M
-59%
(avg) sold price
4
-60%
homes sold
Snapshot
Area Map
Additional Details
Basement
Basement YN: t
Building
Entry Level: 1, Features: Elevators, Living Area Units: SquareFeet, Rooms Total: 25, Structure Type: MultiFamily, MixedUse
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