7
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Listing Courtesy of Compass
$3,300,000
Est. payment /mo
20 Baths
9,972 SqFt
New
67 Ludlow Street Manhattan, NY 10002
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,972 sqft
Price per Sqft $330
Subdivision Lower East Side
MLS Listing ID RLS20086904
Full Baths 20
HOA Fees $5,688/mo
HOA Y/N Yes
Year Built 1900
Annual Tax Amount $85,776
Property Sub-Type Mixed Use
Property Description
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.
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.
Location
State NY
County New York
Rooms
Basement Full
Interior
Furnishings Unfurnished
Fireplace No
Laundry Common On Floor, Common Area
Exterior
Exterior Feature Private Outdoor Space Under 60 Sqft
View Y/N No
Private Pool No
Building
Dwelling Type Multi Family,Mixed Use
Story 6
New Construction No
Others
Tax ID 0408-0020
Ownership None
Monthly Total Fees $12, 836
Pets Allowed Building Cats OK, Cats OK, Dogs OK
RLS Data display by Coastal Property Advisors
NEARBY SCHOOL & BUSINESS
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