247 Broome Street — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: New York, NY 10002

Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively offer 247 Broome Street, a 6-story, mixed-use rental building situated on the south side of Broome Street, between Orchard Street and Ludlow Street, in the heart of Manhattan’s Lower East Side. The prewar property boasts approximately 8,704 square feet with 25’ of frontage. The asset is built 25’ X 76’ and sits on a 25’ x 87.5’ lot (Block: 408; Lot: 13). The property is zoned C4-4A. Investment Highlights: • 247 Broome Street Consists of 21 Total Units, Including 20 Residential Apartments and 1 Ground-Floor Retail Space. 8 Free-Market Apartments, 12 Rent-Stabilized. • Offered to the Market for Under $800/Sf , the Asset Benefits From a Strong Existing Stream of Both Residential and Retail Income, and Features The Renown Wine Bar Retail Tenant, The Ten Bells. • Ideally Positioned in The Heart of The Lower East Side, 247 Broome Street is Surrounded by a Thriving Mix Of Restaurants, Nightlife, and Cultural Staples.

Market Context

This multifamily in New York, NY is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in New York, NY — view the full market.

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