159-161 Orchard Street (AKA 164-166 Allen Street), New York, NY 10002

Two Lower East Side Mixed-Use Buildings For Sale

159-161 Orchard Street (AKA 164-166 Allen Street), New York, NY 10002
Asking Price Submit Offers
Type Mixed-Use
Neighborhood Lower East Side
Properties 2
Lot Size 5,396 total SF
Zoning Code C4-4A
Size 22 Residential Units / 2 Commercial Units / 7 Ground Floor Retail Units
Stories 5
Units 22 Residential Units / 2 Commercial Units / 7 Ground Floor Retail Units
Air Rights None

Investment Highlights:

Meridian Investment Sales is pleased to present exclusively 159-161 Orchard Street, also known as 164-166 Allen Street – two contiguous, block through, mixed-use walkup buildings with tremendous upside in Manhattan’s prime Lower East Side neighborhood. Owned by the same family for over 90 years, the buildings rise five stories, spanning 22,734 square feet with 22 apartments, seven retail stores, and two second floor commercial units.

The properties benefit from prime retail with 61 feet of frontage along both Orchard & Allen Streets, which is currently leased below market nearly eighty percent on residential units and forty five percent on the retail. Investors have a unique value add opportunity to reposition the retail and residential units and maximize revenue.

Location:

Located between Stanton and Rivington Streets, the buildings are situated in the heart of Lower East Side

Property Listing Contact:

David Schechtman // Senior Executive Managing Director // 800 3rd Ave., New York, NY // 212.468.5907 // dschechtman@meridiancapital.com

Jason Goldy // Vice President // 800 3rd Ave., New York, NY // 212.468.5926 // jgoldy@meridiancapital.com