89 Ludlow St New York, NY 10002
- Mixed-use properties
- 4,356 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 89 Ludlow St
- Year built
- 1900
- Property size
- 4,356 SF
- Property type
- Mixed-use properties
Description
89-91 Ludlow Street presents a unique investment opportunity in New York City's vibrant Lower East Side, situated adjacent to Essex Crossing. This three-story mixed-use building, constructed in 1900, offers 4,356 square feet of existing space with a net rentable area of 6,000 square feet. Currently configured as a single unit, the property is zoned C6-2A, C4-4A, allowing for significant redevelopment potential. Approved permits are in place for a substantial expansion project, transforming the site into a twelve-story mixed-use structure encompassing a total of 40,583 square feet. This ambitious plan includes 28,653 square feet dedicated to residential units and an additional 3,333 square feet of commercial space. The property's prime location, coupled with the approved development plans, positions this asset for substantial future returns. This is a rare chance to acquire a historic building with a clear path to significant expansion in one of Manhattan's most sought-after neighborhoods. The asking price for this exceptional property is $14,000,000.
Value Estimation
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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
- -73.9894
- Latitude
- 40.7183
