251-253 EAST BROADWAY

For Sale - Manhattan - Lower East Side

$9,150,000

Net Operating Income: $244,506

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Key Details

Property Type
Mixed Use
Neighborhood
Lower East Side
Property Dimensions
46.0 x 85.0
Property Area
12,929 sq.ft.
Total Units:
21
Stories:
5
NOI
$244,506
Price
$9,150,000
Price Per Unit
$435,714
Cap Rate
2.7%

Listing Description

Marcus & Millichap is the exclusive sales broker for 251 & 253 East Broadway (the “Property”), two adjacent apartment buildings containing twenty residential units and one office space on East Broadway between Montgomery and Clinton Streets on the Lower East Side.

The Property has 46 feet of frontage on East Broadway. The buildings are 23 feet by 63 feet and 23 by 85 feet respectively with R7-2-zoned lots that are 75 feet and 95 feet deep. The Property is comprised of two adjacent buildings with eleven and ten units respectively with approximately 1,200 feet of remaining developable rights.

Property Details

Block/Lot:
286/24, 25
Lot Dimensions
46.0 x 95.0
Lot Area
3,910 sq.ft
Zoning:
R7-2
John Stewart Marcus & Millichap
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Sales & Transactions

AddressSale PriceSale DateProperty Type
150 EAST BROADWAY$6,350,00006/15/2018Mixed Use
38 CANAL STREET$5,250,00005/30/2018Mixed Use
38 LUDLOW STREET$7,100,00005/09/2018Mixed Use
185 EAST BROADWAY$6,100,00003/28/2018Mixed Use
168 SUFFOLK STREET$12,820,00003/09/2018Mixed Use
175 LUDLOW STREET$10,000,00002/09/2018Mixed Use
138-140 LUDLOW STREET$18,900,00001/16/2018Mixed Use
51 ORCHARD STREET$5,300,00001/12/2018Mixed Use
15 ORCHARD STREET$5,250,00012/22/2016Mixed Use
349 GRAND STREET$3,600,00010/14/2016Mixed Use