A three-story commercial property at 121 Ludlow Street located in the heart of the Lower East Side was sold in an all cash transaction valued at $3,450,000.
This completely renovated building is approximately 4,485 sq. ft. The vacant ground floor is fully equipped for restaurant use with an exhaust system, a working kitchen and a full basement. There is an art studio on the second floor with 12 foot ceilings and a hair salon on the third floor with 10 foot ceilings. The property traded to a local investor for $756 per square foot which represented a 4.35% capitalization rate.
Neighborhoods: Lower East Side/ Agents: Michael DeCheser