$5,350,000
Updated 10 years ago
Sold

148 Forsyth Street

Lower East Side, Manhattan | Delancey Street & Rivington Street

6,426 Square FeetIncome Property

$5,350,000
floors / apts5 / 8
Lot Size25'2"x100'4"
Built Size25'2"x51'
ZoneC4-4A
Building TypeLow-Rise
RE Taxes$31,464
Price Per SF
$833

Building Amenities

  • Voice Intercom

Property Description for 148 Forsyth Street

The subject property is a 5-story mixed-use building located on the east side of Forsyth Street, between Rivington and Delancey Street. The 6,426 SF building consists of 1 ground floor retail unit and 8 residential units. The retail is occupied by Roni Sue’s Chocolates who has a lease until 7/31/2018. There are 8 Rent Stabilized apartments and they are all 1-bedroom units. The actual Gross Rent Roll is approximately $176,000 with an NOI of approximately $111,000. Recent upgrades include key card entry, security cameras on each floor, Ecobee thermostat system and brand new electricity meters. This offering provides excellent upside potential considering the RS units are average $1,100 a month. There are additional air rights in tact with the building. The building is facing Sara D Roosevelt Park and is a few blocks away from B, D, F, M, J, Z train station. This LES property is blocks from many neighborhood hotspots such as The New Museum, Whole Foods, Bowery Ballroom and more.

Listing History for 148 Forsyth Street

Now
04/26/2016
Sold and Closed by Michael F. DeCheser
Cushman & Wakefield
04/11/2016
Price Increase by Michael F. DeCheser
Cushman & Wakefield

Building Details for 148 Forsyth Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/8
Learn More About the Building

Transit and Citi Bike

Subway

Bowery
0.12 miles
Grand St
0.18 miles
Delancey St-Essex St
0.22 miles
2 Av
0.23 miles
Spring St
0.32 miles

Citi Bike

Rivington St & Chrystie St
0.06 miles
Delancey St & Eldridge St
0.07 miles

Contact Agents

Contact Agents

Michael DeCheser
Cushman & Wakefield
Darragh Clarke
Cushman & Wakefield
Mei Ling Wong
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: 61432TH