71 Clinton Street

The subject property is a 7-story mixed-use building located on the northwest corner of Clinton and Rivington Streets. The 15,895 SF building consists of 2 ground floor retail units and 22 residential units. There are 2 apartments on the 2nd floor and 4 apartments on floors 3 through 7. The corner retail unit is approximately 1,000 SF and currently vacant. The previous tenant, San Marzano, operated the space as a bar and restaurant specializing in gourmet pizza. The space is still equipped with a new pizza oven and is vented. Of the 22 residential units, there are 16 Free Market (FM) units and 6 Rent Stabilized (RS) units. All FM units are 2-bedrooms except for units 1-2F & 1-2R which are very large 3-bedroom and 2-bedroom units, respectively. In addition, the property benefits from an income producing sign on Rivington Street. The building is positioned at a bustling corner in the Lower East Side with nearby neighbors including Calexico, Schiller's Liquor Bar, Tiny’s Giant Sandwich Shop, The Delancey, Burger King, Dunkin’ Donuts and more. Residents enjoy easy access throughout the city via the F, J, M & Z subway stop which is 3 blocks away. Furthermore, the Essex Crossing mixed-use project is located 1 block south and will add 1.9M SF of residential, retail and community space to the neighborhood. The project is expected to break ground in the Spring of 2015.