250 E Houston

250 E Houston St, New York, NY, 10002-1034, US

Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the 100% fee simple sale of 250 E Houston (the “Property”) a 13-story, 130-unit luxury multi-housing asset located in the East Village submarket of Manhattan. Completely renovated in 2017, the Property features elevated, modern finishes including wide plank hardwood flooring throughout the units, stainless appliances, and washer-dryers in every fair market unit. The Property includes 9,100 square feet of ground floor retail with frontage on E Houston Street, one of New York City’s most highly trafficked streets.

...

Attributes

Number of units

130

Year built

1989

Occupancy

97%

Rentable area

9,119 m²

Media

Investment Highlights

Extremely rare opportunity to acquire a recently renovated, highly amenitized East Village asset
Reimagined asset featuring exceptionally designed residential units with high end finishes, private balconies, and an extensive amenity package
250 E Houston has been institutionally owned and maintained for approximately 10 years with $20MM+ capital invested by current Ownership
Significant revenue upside via mark-to-market of in-place fair market rents, conversion of remaining rent stabilized units to fair market, and the lease up of one vacant retail space
250 E Houston is well positioned to take advantage of the robust NYC multi-housing fundamentals, especially in highly desirable downtown locations like the East Village