LES Portfolio

JLL has been retained on an exclusive basis to market 99 Allen Street, 102 Norfolk Street, 106 Norfolk Street & 177 Ludlow Street, New York, NY 10002 (“the Properties”). The Portfolio has 84 residential units and seven retail units. The residential units are 81% free market. 99 Allen and 177 Ludlow Street are 25’ wide, while adjacent buildings 102 Norfolk and 106 Norfolk Street are both 37.58’ wide.

Situated in the heart of the Lower East Side, steps from Essex Crossing, the Properties are in the live-work-play mecca of New York City for young professionals. Essex Crossing is a megadevelopment, with over 1,000 new residences, 400,000 square feet of office space, and 450,000 square feet of retail space on Delancey Street, that represents the recent revitalization and economic transformation of the Lower East Side. Numerous restaurants including Pig and Khao, Dudley’s, and Wayla exemplify the Bohemian personality of the neighborhood. The nightlife establishments of Pianos, The Back Room, and Mr. Purple are a select list of endless options shaping the Lower East Side’s character and popularity.

This Portfolio is an oppotunity for an investor to buy immediate scale and strong cash flow by capitalizing on the high-demand to live on the Lower East Side. The Properties are minutes from the Delancey-Essex Street subway stop with service to the F M J Z trains, and the F train on 2nd Avenue. Just 20 minutes to Bryant Park in Midtown and 20 minutes to the New York Stock Exchange on Wall Street, the Properties are the perfect midpoint for ease of access to work and provides a tangible balance and change of scenery. To get to Brooklyn, Marcy Avenue is one stop away on the subway. For the more adventurous, one can ride a bike over the Williamsburg Bridge which starts two-blocks away from the Norfolk buildings at the intersection of Clinton and Delancey Streets. The East Side Coastal Resiliency project, a $1.45 billion revitalization of the East River Park is expected to be completed by the end of 2026 and is a ten-minute walk from all of the Properties. This offering is a rare opportunity to own in a preeminent location in Lower Manhattan.