43-45 Orchard St
New York, NY 10002
Multifamily Property For Sale
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13 Units
Property Facts
| No. Units | 13 | Lot Size | 0.06 AC |
| Property Type | Multifamily | Building Size | 12,913 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Mid-Rise | No. Stories | 7 |
| Building Class | C | Year Built/Renovated | 1900/2016 |
| Zoning | C6-2, Manhattan, (S9) - a general central commercial zoning district that allows for a variety of uses, including | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 12,913 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built/Renovated | 1900/2016 |
| Zoning | C6-2, Manhattan, (S9) - a general central commercial zoning district that allows for a variety of uses, including |
Amenities
Unit Amenities
- Tub/Shower
About 43-45 ORCHARD ST , NEW YORK, NY 10002
At arguably the best location in the Lower East Side, 45 Orchard is absolutely prime - the property was completely renovated in recent years and features an elevator. Its retail space is leased to “Reception Bar”, an Asian-American cocktail bar that emphasizes the fusion of modern science with traditional Asian ingredients. Just last month, Eater NY put Reception Bar on their list of the “Hottest Cocktail Bars” in New York. The residential units have seen virtually no vacancy under current ownership. The building’s strong cash flow - presently about $860,000 NOI - allows a long-term hold in order to take advantage of the building’s privileged location at the center of a rapidly growing neighborhood. Alternative strategies include the conversion of the building into a luxury condominium. At the asking price of $21,500,000, the property features a 4% net yield at the time of acquisition.
Property Taxes
| Parcel Number | 0308-0025 | Improvements Assessment | $1,577,720 |
| Land Assessment | $778,500 | Total Assessment | $2,356,220 |
Property Taxes
