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329 Grand St 3 Unit Apartment Building $4,707,300 CAD ($1,569,100 CAD/Unit) 5.17% Cap Rate New York, NY 10002
EXECUTIVE SUMMARY
TURN-KEY INVESTMENT OPPORTUNITY! Financials / private viewing available upon request.
Acre NY Realty Inc. has been retained on an exclusive basis to arrange for the sale of 329 Grand St (“The Property”), a ~22’ wide, ~65' long three-story walk-up building located on the south side of Grand Street between Orchard and Ludlow Street in the Lower East Side neighborhood of Manhattan. Built in 1910 and gut renovated in the 2000s, this building is kept in prime condition under the hands of its current owner. It boasts a usable square area of 3,493 sqft and an unused air right of 4,953 sqft.
All units are free-market and occupied, guaranteeing immediate return. The ground floor 1,365 sqft retail unit comes with an underground storage unit of 450 sqft, while the two residential units feature efficient 3-bedroom layouts at 840 sqft each. The residential units are fully renovated, featuring double-paned windows with dual exposures, oak laminate flooring, modern kitchen appliances and quartz countertop islands.
The building sits right across from Mizuma & Kips, an art gallery with decades of history and a landmark of the Lower East Side renowned for its mural-filled facade. It’s also across the street from the Lower East Side Open Streets, a program that transforms blocks of streets into public space for outdoor dining, walking, and cycling. Grand Street is the heart of Lower East Side, a trendy neighborhood known for its restaurants, bars, and boutiques, resulting in steady
population growth and an intense demand for housing.
Acre NY Realty Inc. has been retained on an exclusive basis to arrange for the sale of 329 Grand St (“The Property”), a ~22’ wide, ~65' long three-story walk-up building located on the south side of Grand Street between Orchard and Ludlow Street in the Lower East Side neighborhood of Manhattan. Built in 1910 and gut renovated in the 2000s, this building is kept in prime condition under the hands of its current owner. It boasts a usable square area of 3,493 sqft and an unused air right of 4,953 sqft.
All units are free-market and occupied, guaranteeing immediate return. The ground floor 1,365 sqft retail unit comes with an underground storage unit of 450 sqft, while the two residential units feature efficient 3-bedroom layouts at 840 sqft each. The residential units are fully renovated, featuring double-paned windows with dual exposures, oak laminate flooring, modern kitchen appliances and quartz countertop islands.
The building sits right across from Mizuma & Kips, an art gallery with decades of history and a landmark of the Lower East Side renowned for its mural-filled facade. It’s also across the street from the Lower East Side Open Streets, a program that transforms blocks of streets into public space for outdoor dining, walking, and cycling. Grand Street is the heart of Lower East Side, a trendy neighborhood known for its restaurants, bars, and boutiques, resulting in steady
population growth and an intense demand for housing.
PROPERTY FACTS
| Price | $4,707,300 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,569,100 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.03 AC |
| Cap Rate | 5.17% | Building Size | 3,495 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | C6-2 - C6 - C6 districts permit a wide range of high-bulk commercial uses requiring a central location | ||
| Price | $4,707,300 CAD |
| Price Per Unit | $1,569,100 CAD |
| Sale Type | Investment |
| Cap Rate | 5.17% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 3,495 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1910 |
| Zoning | C6-2 - C6 - C6 districts permit a wide range of high-bulk commercial uses requiring a central location |
AMENITIES
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
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Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 0309-0013 | Improvements Assessment | $1,232,823 CAD |
| Land Assessment | $110,167 CAD | Total Assessment | $1,342,990 CAD |
PROPERTY TAXES
Parcel Number
0309-0013
Land Assessment
$110,167 CAD
Improvements Assessment
$1,232,823 CAD
Total Assessment
$1,342,990 CAD
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329 Grand St
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