146 HENRY STREET

Lower East Side, Manhattan, New York

$3,200,000

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Type:

Mixed Use

Sq Ft:

6,037

Units:

9

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Property Description

Investment Property Realty Group (IPRG) is pleased to introduce 146 Henry Street, a 9-unit mixed-use building located at the corner of Henry and Rutgers Streets, in the heart of Manhattan’s vibrant Lower East Side.

Rising five stories, 146 Henry Street offers a total of 6,037 square feet and consists of 4 one-bedroom apartments and 3 two-bedroom apartments, all of which are rent-stabilized. Of the 7 apartments, 3 are delivered vacant, presenting an opportunity for immediate rental income and owner-user potential. The building also features 1 office and 1 commercial space.

The property measures 20’ x 78’ on a 78’ lot and is zoned R7-2, falling under the protected Tax Class 2B, which caps annual tax increases. Positioned within walking distance of the J, Z, F, and M subway lines, 146 Henry Street offers convenient access to all parts of Manhattan. This prime location places tenants and owners in the center of the Lower East Side, surrounded by exceptional dining, shopping, and entertainment options.

Recent significant upgrades to the building, exceeding $80,000, include improvements to the chimney, facade, drainage system, and boiler room. These upgrades ensure that the property’s essential infrastructure is well-maintained and functioning efficiently. Additionally, groundwork for renovations to Apartments 2A and 3A has been completed, with costs exceeding $30,000, though the renovations remain unfinished, offering an opportunity for further customization to enhance the property’s appeal.

146 Henry Street offers an exceptionally rare opportunity for investors to acquire a well-maintained, income-generating asset, with the potential for both owner-occupation and utilization of the vacant office space, situated in one of Manhattan’s most vibrant neighborhoods.

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