73 Monroe Street

Ariel Property Advisors presents 73 Monroe Street, a 25’ wide, multifamily building, located in the Lower East Side of Manhattan on the north side of Monroe Street between Pike Street and Market Street. The 9,660 square foot, five-story walk-up building consists of 20 residential units and one commercial unit. The unit mix is comprised of ten 1-bedroom and ten 2-bedroom apartments. While all units are classified as rent stabilized, seven units qualify for permanent High Rent Vacancy Deregulation. There is an additional 2,840 sf of rentable below-grade space that has recently been leased to a local retail tenant. Located in the Lower East Side, 73 Monroe Street sits in a rapidly growing area of Manhattan. Surrounding new developments include projects by Extell at 252 South Street and JDS Development Group at 247 Cherry Street. 73 Monroe Street is three blocks away from the F subway station with the Manhattan Bridge and FDR Drive nearby providing commuters easy access throughout Manhattan and the outer-boroughs. As a turn-key property with upside in achievable rents, 73 Monroe Street provides investors with the opportunity to invest in a rapidly changing Lower East Side neighborhood.