188 BOWERY A.K.A. 2-4 SPRING ST

Property Description

Investment Property Realty Group (IPRG) and Paley Dixon are pleased to introduce 188 Bowery a.k.a. 2-4 Spring Street, an irreplaceable 5 story mixed-use loft building situated off the corner of Spring Street in the heart of Nolita. The approximately 16,600 SF structure is built on a 25’-45’ x 101.25’ irregular lot and is comprised of 8 units: 5 residential lofts and 3 commercial spaces. The building has been owned and operated for decades by a private family office.

The corner unit on the ground floor is currently occupied by Nudie Jeans Repair, with King Avenue Tattoo leasing the second-floor commercial space and Hit House occupying the majority of the lower level. The residential section of the building is comprised of 5 lofts: 3 stabilized and 2 free market. The fourth floor contains both free market loft apartments. Each floor measures approximately 3,332 SF per floor.

The building is located within the Nolita sub-market, a neighborhood that has experienced surging rental growth and a high-end retail presence. 188 Bowery a.k.a. 2-4 Spring Street offers prospective investors the incredible opportunity to acquire a trophy asset with 125’ of wraparound frontage on a corner, 2B tax class protection and cash flow in one of the most desirable locations in Downtown Manhattan.