259 E Broadway Immeuble residentiel 16 lots 8 025 850 € (501 616 €/Lot) Taux de capitalisation 5,60 % New York, NY 10002

Marcus & Millichap is pleased to exclusively offer 259 East Broadway, a 6-story, mixed-use building located on the southwest corner of East Broadway and Montgomery Street in the thriving Two Bridges neighborhood of Manhattan’s Lower East Side. This landmark, prewar property is comprised of approximately 12,076 square feet. The building measures 23’ x 95’ and sits on a 23’ x 95’ lot (Block: 286; Lot: 21). The Property is Zoned R7-2.
THE OPPORTUNITY
6-Story, 17-Unit, Mixed-Use Walk-Up Property Spanning 12,076 Square Feet. This Corner Property Features 23’ of Frontage on East Broadway and 95’ of Frontage on Montgomery Street, Creating Close to 120’ of Wraparound Frontage, Giving the Asset Significant Street Visibility and Strong Natural Lighting.
• Unit Mix
The Property has 1 Retail Unit and 15 Two-Bedroom Apartments. Of the Residential Portion, There are 8 Free-Market units and 7 Rent-Stabilized units, Offering a Balanced Mix of Flexibility and Stability for Future Income Growth.
• Rare Prewar Gem with Significant Modern Upgrades
259 East Broadway Stands as a Turn-Key Asset. Owner Went Above and Beyond, with Major Capital Improvements that Include a New roof with New Parapets, New Plumbing, New Gas Lines, a New Boiler, New Skylights, a Fully Restored Façade, an Upgraded Storefront, and Renovated the Hallways and Lobby. This Rare Offering Combines Historic Charm with Modern Functionality, Requiring Minimal Future Capital Investment, Allowing for Consistent, High-Yielding Performance.
• Strong In-Place Retail
The Retail Space is Occupied by Ernesto’s Restaurant, a Renowned, High-Performing Restaurant That Anchors the Property with Exceptional Stability and Robust Cash-Flow. This Established Tenant Commands a Prime Ground-Floor Presence, Occupying Approximately 2,000 Square-Feet of Space on Ground Floor with an Additional 1,800 Square-Feet of Basement Space. The Tenant has Been In-Place since September of 2017 and Expires in April of 2028. Their Lease Contains 3% Annual Increases and They are Responsible for 100% of Their Water Consumptions Along with 50% of the Real Estate Tax Increases Over the 2017/2018 Base Year. This Powerhouse Retailer Offers Any Purchaser Immediate Financial Security in a Low-Maintenance Investment, Underpinned by Its Deep Roots In The Two Bridges Community And Reputation For Excellence.
• Location & Transportation
Ideally situated in the Two Bridges neighborhood of the Lower East Side, 259 East Broadway is surrounded by a vibrant mix of cultural landmarks, trendy dining, and dynamic nightlife. Notable nearby attractions include the Tenement Museum, Essex Market, and a burgeoning restaurant scene featuring spots like Kiki’s, Mission Chinese Food, and Dimes. The property is within a 5-minute walk of the F train at East Broadway station and a 10-minute walk of the B, D, J, Z, and 6 lines, with nearby bus routes including the M9, M15, and M22. This unbeatable location ensures high tenant demand and long-term value appreciation for investors.