49 ORCHARD Street #RETAIL, Manhattan, NY 10002
49 ORCHARD Street #RETAIL, Manhattan, NY 10002
49 ORCHARD Street #RETAIL, Manhattan, NY 10002
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Randy Reis

Randy Reis

+1(917) 435-4870
Listing Courtesy of Douglas Elliman Real Estate
$3,000,000
Est. payment /mo
100 Baths
1,995 SqFt
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UPDATED:

Key Details

Property Type Condo

Sub Type Condo

Listing Status Active

Purchase Type For Sale

Square Footage 1,995 sqft

Price per Sqft $1,503

Subdivision Lower East Side

MLS Listing ID RLS20098702

Full Baths 101

Half Baths 2

HOA Fees $100/mo

HOA Y/N Yes

Property Sub-Type Condo

Property Description

49 Orchard Street and 48 Allen Street comprise a rare block-throughretail condominium on the Lower East Side - one of the onlyproperties of this scale with simultaneous frontage on both OrchardStreet and Allen Street. The two units together offer 1,995 SF ofground-floor retail, with an additional 584 SF of elevator-connected,ADA-compliant cellar space on the Allen Street side.The property is 100% occupied by New Ealam under two leasesexpiring simultaneously in May 2027. At the current asking price of$3,000,000, the in-place cap rate is 6.46% - a strong current-incomeprofile for a Manhattan retail condo in a corridor with near-zerovacancy and demonstrably rising rents.The 2027 lease expiration is the investment thesis. A buyer todaysecures in-place income at 6.46%, with a clear path to mark-to-marketrents or owner-occupancy when both leases roll simultaneously.

Location

State NY

County New York

Building 49 ORCHARD Street

Rooms

Basement Other

Interior

Fireplace No

Appliance Washer Dryer Allowed

Laundry Building Other

Exterior

Exterior Feature Building Roof Deck

Pool Building None

View Y/N Yes

View Other

Porch None

Private Pool Yes

Building

Dwelling Type High Rise

Story 7

New Construction No

Others

Pets Allowed Pets Allowed

Tax ID 0308-1102

Ownership Condominium

Monthly Total Fees $100

Special Listing Condition Standard

Pets Allowed Building Yes, No

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REBNY IDX
RLS Data display by eXp Realty

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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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