EV-LES Portfolio

New York, NY, US, Americas

Description

JLL has been retained on an exclusive basis to arrange the sale of the EV-LES Portfolio (the "Portfolio"), a collection of one retail building and six mixed-use buildings spanning five tax lots located in premium downtown Manhattan south of 14th Street. Originally acquired by current ownership between 2000 and 2005, the properties feature legacy finishes with significant value-add potential and well-maintained base building conditions. Spanning 43,189 gross square feet, the Portfolio consists of 56 apartments and 8 stores. All 56 apartments are Free Market, providing immediate rental flexibility and growth potential, with substantial upside between current in-place and projected market rents.

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Attributes

Buildings

Units

Building area gross

41,389 sf

Investment strategy

Value Add

EV-LES Portfolio (4 Properties)

Media

Investment highlights

PREMIUM DOWNTOWN MANHATTAN LOCATIONS: All properties located south of 14th Street
SIGNIFICANT SCALE: 5 tax lots / 7 buildings / 56 apartments & 8 stores / 43,189 gross SF
VALUE-ADD: Great base building condition with legacy finishes & significant upside potential
100% FREE MARKET
FAVORABLE RETAIL BALANCE: Equals 36% of in-place portfolio revenue with units leased at/below market rents
LONG-TERM OWNERSHIP: All seven buildings purchased between 2000-2005
EXCELLENT, TRANSIT-ORIENTED LOCATIONS: All buildings within 1-2 min walk from nearest subway station