Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the sale of 280 East Houston Street (the “Property”, “The Houston”), a 12-story, new construction multi-housing asset located in the East Village neighborhood of Manhattan, New York. The Property features 158 residential units, comprised of studios, one-bedrooms, and two-bedrooms, as well 6,000 square feet of retail. The Property was delivered in 2025 and benefits from a 35-year, Affordable New York tax abatement that runs through June 2060.

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Attributes

Number of units

158

Year built

2025

Rentable area

9,241 m²

Media

Investment Highlights

Unique Opportunity to Acquire a Large, New Construction Predominately Fair Market Asset
Value Savings in 35-Year Affordable New York Abatement
Condo-Like Finishes and Full-Service Comprehensive Amenity Package, Attracting Young Affluent Tenant Base
Lease-Up of Vacant Commercial Space Offering Additional Revenue Upside
Prime Location in one of Manhattan’s Most Trendy Downtown Neighborhoods with Excellent Transportation Access
Favorable NYC Multi-Housing Fundamentals to Bolster Residential Demand and Support Strong Future Rent Growth