Horvath & Tremblay’s Aaron sells 18-unit mixed use for $4.5 million

Manhattan, NY Robert Aaron of Horvath & Tremblay completed the sale of 176 Stanton St. Horvath & Tremblay exclusively represented the seller and procured the buyer. The asset sold for $4.5 million.

176 Stanton St. is a five-story brick building that contains one commercial unit on the ground floor, 16 one-bedroom/one-bathroom residential units, and 1 two-bedroom/one-bathroom residential unit in a 9,565 s/f building on a 0.06-acre parcel. The first floor is leased to Only NY, a clothing store. Only NY has three-plus years remaining on their lease. The property is situated in an urban infill location in the Lower East Side neighborhood.

176 Stanton St. is positioned in between Clinton St. and Attorney St. and is seconds from Hamilton Fish Park and Essex Crossing, a multi-property neighborhood development located at the intersection of Delancey St. and Essex St. The property has access to the MTA bus line, several subway stations, the Williamsburg and Manhattan Bridges, and the city’s highways. The property is 500 ft. from Houston St.

, one of the area’s primary commercial corridors, and has access to area amenities including restaurants, retailers, businesses, and service tenants. The property is close to several area parks and schools and is 1-mile from New York University (NYU), 1.2-miles from the Brooklyn Bridge.