67 Ludlow Street New York, NY 10002
Other
MLS #: 11735817
Courtesy Of Compass
Property InformationDescription
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, the asset 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.
Features
- Architecture Style: Other
- Building Units: 0
- MLSID: 11735817
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
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