79 & 86 Clinton Street_Actifs en vente
79 & 86 Clinton Street_Actifs en vente
79 & 86 Clinton Street, New York, NY, 10002, US

79 & 86 Clinton Street

Description de l'actif

Jones Lang LaSalle ("JLL") has been retained on an exclusive basis to arrange the sale of 79 Clinton Street & 86 Clinton Street (the "Properties").


79 Clinton Street is a six-story mixed-use building located on the southwest corner of Clinton and Rivington Streets on the Lower East Side. The corner building has exceptional light and air with 50 windows on Clinton Street and is 70% free market.


86 Clinton Street is a six-story mixed-use building located on the east side of Clinton Street between Delancey and Rivington Streets on the Lower East Side and is 83% free market. The properties present an investor the ability to obtain cash flowing assets in a neighborhood with a sought-after high-demand rental market.


Offered Together or Separately

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Caractéristiques de l'actif

Nombre d'immeubles
2
Nombre d'unités
43 Unité de mesure

Média

Points clés d'investissement

• MAJORITY FREE MARKET - 79 Clinton is 70% free market and 86 Clinton

is 83% free market. As the Lower East Side continues to develop, this

high free market percentage is optimal to capitalize on future rent

growth and enhance building value.


• HIGH-END CONDO LIKE FINISHES - The properties were recently

meticulously renovated which helps to attract renters to choose 79 or

86 Clinton Street over nearby apartment units.


• TRANSPORTATION ACCESS - The properties are located steps from

the J, Z, F & M trains at the Delancey-Essex subway station which

provides seamless access to Brooklyn and the rest of Manhattan - a

highly important characteristic for students and young professionals.


• SUMMER LEASE EXPIRATIONS - 79 Clinton has 60% of its leases

expiring in the next four months, while 86 Clinton has 67% of its

leases expiring in the same timeline. We expect the new rents to rise

with summer leases and new tenants.


• PROXIMITY TO ESSEX CROSSING - The properties are a short walk

from Essex Crossing which is a $1.1 Billion development with over 1.9

MM square feet of residential, commercial and community space

including the Market Line and Regal Cinemas which is anticipated to

be completed by year end 2024.

Contacter l'équipe

79 & 86 Clinton Street (0 actifs)
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Dernière mise à jour
10 mai 2024