Cushman & Wakefield is pleased to announce it has been retained on an exclusive basis to arrange for the sale of 163-167 Ludlow Street. This ~25,000 SF asset is located on the west side of Ludlow Street between East Houston Street and Stanton Street in the Lower East Side neighborhood of Manhattan.
163-167 Ludlow Street is comprised of 3 contiguous properties combining for 75’ of frontage along Ludlow Street and totaling 66 residential units. The residential units are 97% occupied, 89% free market, and are broken down into 60 1-bedroom units and 6 3-bedroom units along the ground floor.
Ownership has invested in amenitizing the properties through the additions of a large communal patio, virtual doorman services, improved facades, in-unit washer dryers, and free wifi for all tenants. Due to the majority of tenants renting below market, 163-167 Ludlow provides an opportunity to take advantage of substantial rent growth upon lease expiration.
163-167 Ludlow Street sits just steps away from Lower East Side staples such as Katz Deli, Mr. Purple Rooftop Lounge and Essex Crossing. The property is within walking distance of Tompkins Square Park and the East River track, field and Promenade. 163-167 Ludlow Street provides excellent access to transportation as it is located just one block away from the 2nd Avenue subway and the Delancey & Essex subway providing access to the B , D , F , M , J and Z lines.
