Listing courtesy of Compass
67 Ludlow Street, New York, (Chinatown), NY, 10002
25 rooms
1900
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.
Status:
Active
Town:
New York
Type:
Commercial
Laundry Remarks:
CommonArea
Zoning:
C4-4A
Building Type:
Low-Rise
Cooling:
Unknown Type
Levels:
6
Service Level:
Voice Intercom
OLR #:
RLS20086904
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