269 Houston St New York, NY 10002
- Apartment buildings
- 12,200 SF
Current Use by Public Records
- Houston on Suffolk Apartments / Apartment Building / Apartment Complex
- The Mayfly / Hamburger Restaurant / Irish Pub
Property Details for 269 Houston St
- Property size
- 12,200 SF
- Property type
- Apartment buildings
Description
This exceptional 17-unit apartment building, located at 269-271 East Houston Street in New York City's vibrant Lower East Side, presents a compelling investment opportunity. The property boasts 12,200 square feet and sits on a 38' x 60' lot (Block: 350 Lot: 12), offering 94 feet of wraparound frontage. The building comprises 11 free-market apartments, 3 rent-stabilized apartments, 1 rent-controlled apartment, and 2 commercial retail spaces. With a significant portion of units operating below market rent, there's substantial potential for immediate value-add through rental increases. The strong rental demand in the Lower East Side, coupled with the property's strategic location, ensures a robust cash flow. The asking price is $8,750,000, representing a price per unit of $514,705.88 and a price per square foot of $717.21. The property's Net Operating Income (NOI) is $516,244, yielding a 5.90% capitalization rate. Conveniently located near the F, M, J, and Z subway lines, this property offers easy access to the rest of Manhattan. The building is zoned R8A. This is an ideal acquisition for investors seeking immediate presence in this dynamic neighborhood, whether expanding existing holdings or making a first Manhattan purchase. The Lower East Side's thriving arts and culture scene, diverse culinary offerings, and lively nightlife contribute to its enduring appeal and strong rental market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9847
- Latitude
- 40.7215
