Investment Overview

THE OFFERING Marcus and Millichap is pleased to exclusively offer for sale 43 Clinton Street, which is located in the heart the Lower East Side. Located on the west side of Clinton Street between Rivington Street and Stanton Street, this 18-unit mixed-use property is comprised of approximately 10,000 square feet with 25’ of frontage. The property sits on a 25’ x 100’ lot (Block: 349 Lot: 20) and is built 25’ x 80’. The property is zoned C1-5. THE OPPORTUNITY Building Profile/Unit Mix: 43 Clinton Street is a 25’ wide, 5 story building that spans roughly 10,000 Square feet and contains 16 residential apartments over 2 ground floor retail spaces. Of the 16 residential apartments, 13 are Free Market and 3 are rent stabilized. The property boasts 13 one-bedroom apartments, 2 three-bedroom apartments, and 1 two-bedroom apartment. Both retail spaces have tenants in place, with the North Store’s term ending in June of 2033 and the South Store’s lease set to expire in April of 2026. The property sits on a 25’ x 100’ lot (Block: 349 Lot: 20) and is built 25’ x 80’. The property is zoned C1-5. Light Value-Add Opportunity: While the property currently commands relatively strong rents, there is an immediate opportunity to push rents further. The average free market one-bedroom rent is $2,950, roughly 10% below current market levels. Additionally, the two & three bedrooms are approximately 15% below current market levels. Any potential purchaser will be able to capture this upside through light cosmetic renovations. Strong In-Place Cash Flow: Being 100% occupied, Clinton Street generates significant cash-flow, allowing an investor to realize a steady stream of income day one. With an in-place yield of 6% at the asking price, coupled with the below market rents, this asset creates a natural path to grow the rent roll even further to stabilize above market debt levels. Strategic Location: The Lower East Side in New York City is a vibrant and dynamic neighborhood with a rich history and a thriving arts and culture scene. It is known for its diverse dining and nightlife options, as well as its close proximity to many of the city's top attractions. One of the major attractions of the Lower East Side is its diverse range of restaurants, which offer cuisine from around the world. From traditional Jewish delis to trendy vegan cafes, the Lower East Side has something to suit every taste and budget. The neighborhood is also home to a number of highly rated restaurants, such as Katz's Delicatessen, The Fat Radish, Mission Chinese Food, and countless others, which draw foodies from all over the city. In addition to its culinary delights, the Lower East Side is also known for its lively nightlife scene. The neighborhood is home to a wide variety of bars, clubs, and music venues, ranging from cozy dive bars to trendy rooftop lounges. Some popular destinations include the Lower East Side Tenement Museum, the Orchard Street Shopping District, and the New Museum. Finally, this location is within easy walking distance to the F, M, J, Z subway lines.