150 Rivington StNew York, NY 10002

This exceptional retail condominium, located at 150 Rivington Street in New York City's vibrant Lower East Side, presents a compelling investment opportunity. The property boasts a total of 12,113 square feet, currently at 42% occupancy, offering significant upside potential for a savvy investor or owner-user. Priced at $7,900,000 ($652 per square foot), the property generates a net operating income (NOI) of $502,375. The building features four units with an average rent of $72 per square foot on a gross lease structure. This prime location provides approximately 180 feet of wraparound frontage along Rivington and Suffolk Streets, ensuring exceptional visibility and exposure. The property includes a sellable and usable lower level, adding to its overall value. Situated at the base of the 150 Rivington mixed-use condominium building, this retail space benefits from the established residential community. The R7A zoning permits a variety of retail uses, allowing for flexibility and adaptability to market demands. The high vacancy rate (currently 85% vacant upon delivery) presents a unique chance to reposition the space and capitalize on the strong Lower East Side market. This is a rare opportunity to acquire a substantial retail property in a highly desirable location.