67 Ludlow Street, Manhattan, NY 10002
67 Ludlow Street, Manhattan, NY 10002
67 Ludlow Street, Manhattan, NY 10002
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Randy Reis

Randy Reis

+1(917) 435-4870
Listing Courtesy of Compass
$3,300,000
Est. payment /mo
20 Baths
9,972 SqFt
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UPDATED:

Key Details

Property Type Single Family, Mixed Use

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.

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

Pets Allowed Pets Allowed

Tax ID 0408-0020

Ownership None

Monthly Total Fees $12, 836

Pets Allowed Building Cats OK, Cats OK, Dogs OK

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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