S&H Portfolio

JLL has been retained on an exclusive basis to arrange the sale of the S & H Portfolio (the "Portfolio"), a collection of eight mixed-use buildings located in the East Village (2 properties), Lower East Side (4 properties), Greenwich Village (1 property), and Upper East Side (1 property), Manhattan. The buildings were all acquired between 1995 and 2000 and were immediately gut renovated. Today, the properties feature legacy finishes with substantial value-add potential and well-maintained base building conditions. Spanning 84,472 gross square feet, the Portfolio consists of 137 apartments and 15 stores. All 137 apartments are Free Market units, providing immediate rental flexibility and growth potential. The apartments are currently configured as 43 studios, 25 one-bedrooms, 39 two-bedrooms, 29 three-bedrooms, and 1 fourbedroom unit. The Portfolio's 137 Free Market units reflect approximately $1.11M in total annual rental upside between current in-place rents and projected market rents that has yet to be unlocked.

The Portfolio's retail component is 95% leased and spans 15 stores generating $1.92M in annual retail income. The tenant mix ranges from established neighborhood businesses to emerging concepts. The retail spaces all benefit from prime locations along major corridors including First Avenue, Houston Street, Orchard Street, and Carmine Street, with lease terms providing 4.3 years of WALT, stable cash flow and future rent growth potential.