155 Rivington Street
Mixed Use | 5.67% CAP | 8,800 SqFt
Marketing description
Investment Property Realty Group, LLC is pleased to present the exclusive offering of 155 Rivington Street, a fully deregulated mixed-use asset located in the heart of Manhattan's Lower East Side. The property is offered at $8,400,000, representing a 5.67% going-in cap rate.
The building spans approximately 8,800 square feet and consists of six free market residential units and one ground-floor retail space. Originally converted from office to residential use, the property features a desirable unit mix of two-bedroom/one-bath and four-bedroom/two-bath layouts, catering to strong rental demand in the submarket.
The approximately 2,200 square foot retail space is leased to WhitFit NYC, a boutique infrared fitness and Pilates studio with a loyal and growing membership base. The tenant has a long-term lease in place through August 2032, providing stable and predictable income.
Situated just steps from the J, M, Z, and F subway lines, 155 Rivington Street is surrounded by the Lower East Side's vibrant dining, nightlife, and retail corridors. The neighborhood continues to experience strong residential demand and increasing institutional interest, driven by ongoing luxury development and its prime downtown location. 155 Rivington Street presents investors with a compelling opportunity to acquire a fully free market asset with stable in-place cash flow and meaningful upside potential.
Investment highlights
- Fully deregulated, statutorily free market asset following office-to-residential conversion
- Efficient expense profile, with tenants responsible for heat and hot water; approximately 18% tax expense ratio
- Mark-to-market opportunity in the retail component, with current rent negotiated during the COVID-19 pandemic
- Recently constructed asset with minimal anticipated capital expenditures
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
