113 Stanton St, New York, NY, 10002, US

113 Stanton Street

Asset Description

JLL has been retained on an exclusive basis to arrange for the sale of 113 Stanton Street, a 7,050 gross square foot, mixed-use building located on Stanton Street between Essex and Ludlow Streets in Manhattan’s Lower East Side referred to as the "Property." The Property is 5 stories and comprised of five units: a sneaker store 'District One' on the ground floor and four floor-through apartments. As is, the Property generates very strong cash flow that is enhanced over time by the building’s protected Tax Class 2A designation.

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Attributes

Occupancy

100.00%

Year built

1900

Building area Gross

7,050 sf

Land area Gross

0.04 acres (1,951 sf)

Media

Investment Highlights

Protected Tax Class 2A: The Property benefits from being Tax Class 2A which limits yearly tax increases.

Long-Term Retail Stability: 113 Stanton Street's retail tenant, District One, signed a new seven-year lease through 2029, and contributes to a portion of the real estate taxes.

Thoughtful Renovations: The free market portion of the building has been meticulously renovated with high-end finishes including in-unit washer & dryer combos, a private outdoor space, and ample closet space.

Preeminent Location: The Property is located in the heart of the Lower East Side steps from the East Village in one of the most desirable neighborhoods for students and young professionals. The Property has seamless transportation to the rest of the city through the F, M, J, & Z subway options at the Delancey Essex station two-blocks away.