249 E Houston St 5 Unit Apartment Building $4,250,000 ($850,000/Unit) 5.10% Cap Rate New York, NY 10002

Cushman & Wakefield has been exclusively retained to arrange the sale of the property located at 249 East Houston Street. The property is located on the south side of East Houston Street, between Norfolk and Suffolk Streets, a couple blocks from New York City institutions, such as Katz’s Deli, Essex Market and adjacent to the iconic Remedy Diner.
The building is comprised of 5 units and is 100% free market, offering a unique opportunity for prospective buyers to purchase a mixed-use building downtown. The property is designated tax class 2A, thereby limiting tax increases.
There are also approximately 5,300 square feet of additional air rights, offering optionality for a buyer looking to develop additional floors. There is a backyard that is accessible from the parlor level floor and commercial space.
Located in the Lower East Side, the building is located near many unique neighborhood amenities, including Essex Crossing, the Tenement Museum, and the Delancey–Essex transit hub, with immediate access to SoHo, the East Village, Chinatown, and the Williamsburg Bridge. The building is located within walk distance to the F, M, J, and Z subway lines.
249 East Houston Street represents a unique opportunity to buy a cash-flowing, tax class 2A property in one of the most vibrant neighborhoods of Manhattan. Buyers can capitalize on an asset that is poised to appreciate as the surrounding submarket continues to thrive, driven by strong demand, new developments, and increased
popularity.