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42-46 East 21st Street 3 biens • Commerce de détail • New York, NY

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Faits saillants de l'investissement

Significant upside through renovation of legacy residential units currently below market, driving mark-to-market rents upon turnover
Three-building portfolio totaling ~25,145 SF in one of Manhattan’s most supplyconstrained, high-demand neighborhoods
Approximately 9,355 SF of unused development rights provide additional strategic optionality

Residential WALT of approximately 1 year provides near-term access to units, enabling capture of market rents
Parlor-level retail plus two office units with 3.8-year WALT enable phased repositioning or recapture
The Nomad neighborhood is truly a mixed-use one, home to some of the city’s best residential, office, hospitality and retail properties

Résumé de l'annonce

42, 44 & 46 East 21st Street (the “Properties”) present a rare opportunity to acquire the 100% fee simple interest in a three-building portfolio totaling approximately 25,145 square feet in the heart of Flatiron/Gramercy—one of Manhattan’s most desirable and supply-constrained neighborhoods. The Properties are ideally positioned between Broadway and Park Avenue South, within a five-minute walk of Gramercy Park, Madison Square Park, and Union Square Park. This premier location sits at the convergence of one of the world’s strongest residential, retail, and office hubs, with immediate access to multiple subway lines and a robust amenity base, including Michelin-star restaurants,
cutting-edge fitness concepts, world-class shopping and multiple luxury hotels.
The assets offer compelling value-add potential through the renovation of the residential units, many of which have not been updated in decades and remain well below current market rents, as well as the potential conversion of the commercial units. A targeted capital program to modernize interiors and common areas presents a clear path to meaningful NOI growth.
The Properties include approximately 9,355 square feet of excess air rights. The commercial component consists of ground- and parlor-level retail along with three professional spaces, all tenanted by local businesses, and features a weighted average lease term (WALT) of 3.8 years— providing near-term flexibility to reposition, recapture, or convert the space to residential use.

Offering Memorandum

Faits sur la propriété

Type de vente	Investissement ou propriétaire utilisateur	Individuellement en vente	0
Statut	Actif	Taille totale du bâtiment	19 325 pi²
Nombre de propriétés	3	Superficie totale du terrain	0,16 AC

Type de vente	Investissement ou propriétaire utilisateur
Statut	Actif
Nombre de propriétés	3
Individuellement en vente	0
Taille totale du bâtiment	19 325 pi²
Superficie totale du terrain	0,16 AC

Propriétés

Nom de la propriété/adresse	Type de propriété	Taille	Année de construction	Prix individuel
44 E 21st St, New York, NY 10010	Commerce de détail	7 650 pi²	1847	-
42 E 21st St, New York, NY 10010	Commerce de détail	6 675 pi²	1848	-
46 E 21st St, New York, NY 10010	Commerce de détail	5 000 pi²	1920	-