117-Unit Mixed-Use
For Sale
Contact for pricing
156 East 2nd Street, New York, NY 10003
Three Manhattan properties combine residential apartments with occupied commercial space.
Property Size71,145 SF
Price / SF$590.34
Days on Market19
Property Features for 156 East 2nd Street
General Information
Standard status
Active
Size
71,145 SF
Property subtype
Multifamily, Mixed Use
Occupancy
94%
Additional Details
Multifamily Units
117
Building Details
Buildings
3
Listing Agency:
Cushman & Wakefield New York
Listed By:
Michael Gembecki · License #NY 10401227340
(212) 660-7743
Source:
Crexi
Added: Sep 22
Changed: Sep 27
Last Checked: Oct 9 at 5:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield New York
Investment Insights
Based on property information with market context.
The offering comprises three properties with 117 residential units across approximately 71,145 square feet above grade. The unit mix includes 30 free-market apartments, 80 rent-stabilized apartments, and 4 rent-controlled apartments. Residential occupancy is 94%, and all 3 commercial spaces are occupied.
The properties are located across Manhattan’s East Village and Lower East Side, with the address at 156 East 2nd Street, New York, NY 10003.
The properties are located across Manhattan’s East Village and Lower East Side, with the address at 156 East 2nd Street, New York, NY 10003.
Key Highlights
- Three‑property Manhattan portfolio with 117 residential units
- Approximately 71,145 square feet above grade
- Residential mix: 30 free‑market, 80 rent‑stabilized, and 4 rent‑controlled units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,267,747
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$45,354,940
$45.4M
Cap Rate 7%
$32,396,386
$32.4M
Cap Rate 9%
$25,197,189
$25.2M
Market Conditions
NOI Build-Up for 71,145 SF
Gross rent
$4.27M $60.00/SF
− Vacancy
−$640.3K −$9.00/SF
EGI
$3.63M $51.00/SF
− OpEx
−$1.36M −$19.13/SF
NOI
$2.27M $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$45,354,940
Cap Rate 7%
$32,396,386
Cap Rate 9%
$25,197,189
Alternative Uses
Best Use
Mixed Use
$32.40M
$28.35M – $37.80M
NOI $2,267,747 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$31.80M
$27.82M – $37.10M
NOI $2,225,935 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$177.09M
$154.95M – $206.61M
NOI $12,396,305 @ 7.0% cap · market cap 29.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
117
Residential units
94%
Occupancy
Location Intelligence
Trade Area within ½ mile
21,552
Businesses Nearby
Explore this area
Business Placement
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three Manhattan properties combine residential apartments with occupied commercial space.
Where is this mixed-use property located?
The property is located at 156 East 2nd Street New York, NY.
What is the asking price?
The asking price for this property is $42,000,000.
What are key features of this property?
This property features: Three‑property Manhattan portfolio with 117 residential units; Approximately 71,145 square feet above grade; Residential mix: 30 free‑market, 80 rent‑stabilized, and 4 rent‑controlled units
