86 Clinton St
New York, NY 10002
Immeuble residentiel Propriété À vendre · 18 Unités

JLL has been retained on an exclusive basis to arrange for the
sale of 86 Clinton Street (the “Property) a five-story walk-up
building with 25 feet of frontage on Clinton Street between
Rivington and Delancey Streets in Manhattan’s Lower East
Side. The property includes 18 residential units and 2 retail
spaces across approximately 10,200 gross square feet, with
a residential mix of 15 free market units (83%), and 3 rentstabilized units (17%). The free-market component includes
15 studio units averaging $3,363/month, and 2 two-bedroom
units averaging $5,700/month.
All the Free-Market apartments have been fully renovated
and feature brand-new stainless-steel appliances, marble
bathrooms, new hardwood floors, and granite countertops.
Additionally, tenants benefit from a virtual doorman and on-site
laundry facilities. All of the units are individually metered for gas
and electric, and the building is heated via a gas-fired boiler.
The two ground floor retail spaces include Divya’s Kitchen and a
Metro by T-Mobile. The retail component generates ~$265K in
annual income with an average WALT of 5.3. The building also
receives additional tax reimbursements of $44,050 annually
Strong underlying neighborhood market fundamentals are
further supported by the Property’s unit mix and proximity
to the Delancey St.-Essex St. F M J Z , which will
attract young professionals seeking convenient access to
Manhattan’s major employment hubs. In 2024, New York City
saw an influx of recent college graduates moving to the city
to fulfill employment opportunities. 10.79% (7% YoY increase)
of 2024 national college graduates moved to New York last
year, the most of any city in the country and more than double
all other U.S. metros other than Los Angeles (6.12%). New
arrivals will be attracted to the Lower East Side due to its
relatively affordable rents, safety, and transportation options.
86 Clinton Street presents an excellent opportunity for an
investor to acquire a turn-key, well-located, low-maintenance
property in a submarket bolstered by strong future rental
dynamics and significant long-term supply constraints.
The Property will be sold on an as-is, where-is basis.