$5,800,000
Updated 9 years ago
Off Market

217 East Houston Street

Lower East Side, Manhattan | Ludlow Street & Ave A

Income Property

$5,800,000
floors / apts5 / 8
Lot Size30'x100'
Built Size30'x56'
ZoneC6-2A
Building TypeLow-Rise
RE Taxes$19,718

Building Amenities

  • Voice Intercom

Property Description for 217 East Houston Street

> With the world famous Mercury Lounge as the anchor tenant, this is a stable income producing property perfect for any investor. > 217 East Houston Street is a 5 story walk-up mixed-use building with 6 stabilized, 2 free market apartments, 1 ground floor commercial space and 1 billboard. > Building dimensions are 30' x 85' on the ground floor, and 30' x 56' on the upper floors. > It is approximately 9,600 SF above grade. > The zoning classification is C6-2A with a total Buildable Square Footage of approximately 18,000 SF for Commercial use, 21,000 for Residential use (with Inclusionary Housing), and 16,200 SF for Residential use (w/out Inclusionary). > Annually, actual gross rents are approximately $415,000 per year with an actual net operating income of approximately $350,000. > Note: Tenant also pays one third of the property tax increases from base year 2008/2009.

Listing History for 217 East Houston Street

Now
09/13/2009
POM by Michael F. DeCheser
Cushman & Wakefield
06/15/2009
Exclusive Expired by Michael F. DeCheser
Cushman & Wakefield

Building Details for 217 East Houston Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts5/8
Learn More About the Building

Transit and Citi Bike

Subway

2 Av
0.18 miles
Delancey St-Essex St
0.25 miles
Bowery
0.39 miles
Grand St
0.45 miles
Bleecker St
0.49 miles

Citi Bike

E 2 St & Ave A
0.08 miles
Stanton St & Norfolk St
0.1 miles

Contact Agent

Contact Agent

Michael DeCheser
Cushman & Wakefield

Lower East Side | Manhattan

Quick Profile

Bursting with energy at every turn, the Lower East Side is one of the most historic neighborhoods in all of Manhattan. Rooted in immigrant history, the bulk of European and Eastern European migration that occurred in the late nineteenth through the early twentieth century took place here, where the Tenement Museum remains one of the best ways to become acquainted with how early residents of the neighborhood lived.

The unique and eclectic mix of building styles--ranging from low- and high-rises to luxury and historic buildings--begins immediately upon entering the area via the Manhattan or Brooklyn Bridge, known as Two Bridges, itself a neighborhood that has also long been known for its immigrant population. With its historic district placed in the National Register of Historic Places, many of its oldest churches, such as Mariners Temple and St. James Church remain a preserved part of the district’s storied past. 

While the LES has long been a hub for aspiring musicians and artists, the area has increasingly transformed its demographic as it welcomes a more affluent sect of residents with the advent of condos and luxury spaces.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 29055TH