41-43 Ludlow StNew York, NY 10002

Property Details for 41-43 Ludlow St

Year built

1900

Lot size

0.05 AC

Property size (Sq ft)

8,458 SF

Zone code

C6-2

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

00309-0026

APU

3090026

Description

This exceptional 5-story, mixed-use building at 41-43 Ludlow Street in New York City's Lower East Side presents a compelling investment opportunity. The 8,458 square foot property boasts eight residential units and two ground-floor retail spaces, offering a blend of income streams. Situated on Ludlow Street between Grand and Hester Streets, this location provides unparalleled access to the neighborhood's vibrant dining, entertainment, and shopping scene. Convenient transportation is readily available, with the B and D trains (Grand Street station) less than a 5-minute walk away, and the F train easily accessible via the East Broadway station. The building benefits from a low basis, is classified as Tax Class 2B (tax-protected), and presents potential for owner-user occupancy. Below-market retail rents offer significant upside potential. Its proximity to Essex Crossing further enhances its desirability. This is a rare chance to acquire a well-positioned multifamily asset in a highly sought-after area of Manhattan. The asking price is $2,650,000, translating to $313.31 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $1,733,966

  6.5%

  $1,600,584

  7%

  $1,486,257

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,712,940

  Geo Method

  $1,712,940

• Alternative Use

  Use

  Valuation

  Residential

  $1,600,584

  Hospitality

  $1,466,127

  Educational

  $1,219,800

  Medical

  $1,261,751

  Retail

  $1,897,467

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7163

Longitude

-73.9905

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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