A free market, mixed use and fully occupied Lower East side value add and high cash-flow opportunity.
SELLER FINANCING Available.
This 3,918 SF building located between Suffolk and Clinton St has a stable amount of premium cash flow with the potential increase in rent roll.
The property is 4.5 stories high, including a commercial space on the ground floor and two high end units above, spanning three and a half floors. The residential units consist of multiple outdoor spaces, duplex layouts and designer finishes. Both having 4 bedrooms, one being a duplex the other a triplex. Please see floor plans below for more details.
Given that both residential units are free market, potential income from both long-term tenants and short-term rentals can be very lucrative due to the freedom of rental increases and subjective short-term rates.
The commercial space is currently occupied by a brand apparel store, Montana Shop. They signed a lease in the last quarter of 2021, escalating 3% yearly through Jan 2031, their lease expiration.
149 Rivington Street is in the very upbeat northern neighborhood of the Lower East Side. Surrounded by great restaurants, a robust nightlife and multiple grocers. In addition, it is a short distance from the Delancey St – Essex St F M J Z subway station, providing easy access throughout Manhattan and the Boroughs.
This property attracts an array of investor types, from value-add buyers to home buyers seeking passive cash flow to support the properties carrying costs.
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