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Unit Size: 3,400 SF
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Condo Use: Retail
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Price: $2,950,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $867.65 USD
Description
Cushman & Wakefield (“C&W”) has been retained on an exclusive basis to arrange the sale of the retail condominium located at 145 Ludlow Street (the “Property”), situated in the heart of Manhattan’s Lower East Side. The Property was originally constructed in 2016 and underwent a complete renovation by its current owner, a local nonprofit, upon acquisition in 2023. It comprises approximately 3,408 square feet in total, including 2,134 square feet at grade and 1,274 square feet on the finished lower level, connected internally via a wide open stairwell.
The vacant retail condominium presents a rare opportunity for both investors and owner users to acquire a highly visible asset with immediate occupancy potential and meaningful long-term value creation through leasing or repositioning strategies. In addition, the Property benefits from direct access to a private outdoor space on the ground level and a smaller outdoor space on the lower level, an increasingly rare and highly desirable feature for retail users seeking enhanced seating or experiential programming opportunities.
The Property’s highly flexible layout, multiple outdoor areas, and recent high-quality renovation make it well suited for a wide range of tenancy profiles seeking to capitalize on the area’s dense residential population, steady pedestrian traffic, and close proximity to major transportation hubs. The surrounding neighborhood features a dynamic mix of residential buildings, boutique retail, restaurants, nightlife, and creative office uses, driving consistent activity throughout the day and evening. Just two blocks south is the Delancey Street–Essex Street transportation hub, providing direct access to the F, J, M, and Z subway lines, while the Second Avenue F train stop at Houston Street is located one block to the north—together offering seamless connectivity to Midtown Manhattan, Brooklyn, and the broader New York City market.
Sale Notes
IDEAL PHYSICAL ATTRIBUTES
• ±2,134 square feet of above-grade space with a large private outdoor space, a rare amenity in this submarket
• Built in 2016 and fully renovated in 2023, offering modern construction and over 25 feet of prominent frontage
• Open floor plan with plumbing infrastructure already in place and no use restrictions, providing exceptional flexibility for users and investors
EXCEPTIONAL USER OR INVESTOR OPPORTUNITY
• The Property is being delivered 100% vacant, offering immediate occupancy potential for an owner-user or the ability to execute a leasing or repositioning strategy
• A proven Lower East Side retail market with demand across multiple use categories,including luxury retail, office/showroom, fitness, and food and beverage, supporting long-term leasing durability
PRIME LOWER EAST SIDE LOCATION
• Centrally located in the Lower East Side, one of Manhattan’s most dynamic and high traffic mixed-use neighborhoods
• Excellent transit accessibility with close proximity to the 2nd Avenue F, J, M, Z, and multiple crosstown bus lines, providing convenient connectivity throughout Manhattan and Brooklyn
• The Lower East Side continues to attract retail, food & beverage, and experiential users seeking strong foot traffic, vibrant street life, and a highly walkable urban environment
William Conrad
Cushman & Wakefield
