179 Ludlow St
New York, NY 10002
179 Ludlow Street - Retail Condo · Multifamily Property For Sale · 6 Units

Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of a retail condo at 179 Ludlow Street. Located at the base of a seven-story, newly developed residential building on the west side of Ludlow Street between East Houston and Stanton Streets. The 1,650 SF unit features approximately 22' of frontage, a 550 SF lower level, and 14' ceiling heights. The space is currently leased to Drybar, a California-based blow-dry bar chain, which operates 69 stores across the United States and Canada. lease carries a corporate guarantee and runs through August 2026 paying $180,000/Year with 3% annual increases and reimburses 100% of the real estate taxes over base year 2016/2017. Drybar also pays 8% over a natural breakpoint to the owner. The property benefits from a strong location, only steps away from neighborhood hotspots such as Mr. Purple, Whole Foods, Pianos, and the newly opened Public Hotel. Additionally, the property is located next door to a mixed use development site . The site will boast 94 apartments and a 3-story Equinox gym. Various subway stations within a half mile of the property service the J, Z, F, M 4 & 6 lines. The Retail at 179 Ludlow represents a strong opportunity for an investor to purchase a cash flowing asset, stabilized by a long term lease to a corporately guaranteed tenant in the highly trafficked and vibrant Lower East Side.