105-107 Eldridge St, New York, NY 10002

MARKETING DESCRIPTION / OVERVIEW

Libret Real Estate is pleased to present 105 Eldridge Street, a premier 20-unit mixed-use investment opportunity located in the vibrant heart of Manhattan's Lower East Side. Comprising 18 residential apartments and 2 commercial spaces across 13,544 gross square feet, this property offers a rare combination of stabilized in-place cash flow and massive, immediate upside.

The "Crown Jewel" with High-Capacity Potential: The property is highlighted by the "Crown Jewel" commercial space (Unit 1S). Formerly the iconic live music venue "Fontana's," this sprawling ~6,500 SF multi-level space offers an incredibly rare asset for a building of its footprint: a historical Certificate of Occupancy permitting a massive capacity of up to 269 persons (170 on the Ground Floor, 26 on the Mezzanine, and 73 in the Cellar). Acquiring a high-capacity assembly status of this scale in Manhattan today is notoriously difficult and expensive, making this an absolute "unicorn" for nightlife operators. Featuring turn-key entertainment infrastructure—including high ceilings, a built-in live stage, and a mezzanine—coupled with a proven successful liquor license history, this vacant space provides unmatched peace of mind and foundation for a flagship operation. It is perfectly positioned to be leased to a premier hospitality operator at a highly competitive premium rent (Pro Forma: $40,000/month), unlocking an impressive $993,326 in total Pro Forma NOI.

Anchored by a Proven Hospitality Tenant: The 2S commercial space is currently leased to The Flower Shop (@theflowershopnyc), a well-known Lower East Side pub and bistro with strong brand visibility, nearly 28K Instagram followers, and recognized by the Michelin Guide as a Bib Gourmand in 2019 and 2020. The tenant’s popularity and established presence firmly validate the prime nature of this location and support highly stable in-place cash flow generating $264,000 annually.

The Residential Upside: The residential component consists of 18 units (a mix of Studios and 1-Bedrooms) that are 100% Free Market. With no rent regulation restrictions, a new investor has the absolute freedom to reposition the units and increase current below-market rents to capture the immense demand from young professionals and creatives flocking to the LES. Furthermore, tenants pay their own heat and hot water via individual meters and boilers, keeping owner expenses incredibly low.

Debt-Free Advantage: Unlike many properties on the market, 105 Eldridge Street will be delivered entirely Free and Clear. The recent payoff of the existing mortgage not only allows buyers to secure their own optimal financing but also completely eliminates costly lender escrows. A new owner can immediately optimize the insurance policy, slashing operating expenses on Day 1.

Whether you are an investor looking to capitalize on a massive repositioning opportunity, or an owner-operator planning to establish a flagship venue in NYC's most dynamic neighborhood, 105 Eldridge Street delivers unmatched, limitless potential.

FINANCIAL SNAPSHOT (PRO FORMA STABILIZED):

Asking Price: $14,000,000

Pro Forma Cap Rate: 7.10%

Net Operating Income (NOI): $993,326

Gross Potential Income: $1,422,600

Total Operating Expenses: $386,596 (Exceptionally Low 28% Expense Ratio)

Total Units: 20 (18 Residential, 2 Commercial)

CONFIDENTIALITY & DISCLAIMER: The information contained in this listing and the Offering Memorandum has been obtained from sources believed to be reliable. However, no warranty, representation, or guarantee, express or implied, is made as to the accuracy, completeness, or reliability of the information. All financial projections, including Pro Forma Gross Revenue, Operating Expenses, NOI, Cap Rates, and future rental estimates (including the $40,000/month valuation for Unit 1S), are estimates based on current market assumptions and do not constitute a guarantee of future performance. Any square footage dimensions (including the 6,500 SF estimate for Unit 1S) and historical Certificate of Occupancy capacities (including the 269 and 115 permitted persons) are approximate, provided for informational purposes only, and must be independently verified with a licensed architect and the NYC Department of Buildings. Prospective buyers must conduct their own independent due diligence. The Seller, its agents, and Libret Real Estate LLC explicitly disclaim any and all liability.