News:
Brokerage
Posted: October 28, 2025
Marcus & Millichap brokers $13.5
million sale of mixed-use property
Manhattan, NY Marcus & Millichap closed the sale of a 30-unit mixed-use property at 135 Eldridge St. on the Lower East Side for $13.5 million.
“While the property is 60% rent-regulated, previous ownership substantially renovated all building-wide systems and apartments, ultimately stabilizing the asset at a strong yield,” said Logan Markley of the NYM Group of Marcus & Millichap in Manhattan. “The buyer of this property will benefit from the strong in-place cash flow and minimal deferred maintenance moving forward.”
Marcus & Millichap’s Joe Koicim and Markley represented the seller in the transaction.
The six-story building, constructed in 1900, totals 21,648 s/f and includes 28 residential units and two ground-floor retail spaces occupied by Akiko Nails and Ha’s Dac Biet.
The property has undergone substantial renovations in recent years, including updated apartments with stainless steel appliances, modern finishes and new flooring, as well as building-wide improvements such as a new roof, plumbing and electrical systems.
Located on the border of the Lower East Side and NoLita, the property is surrounded by dining, retail and nightlife destinations including Katz’s Delicatessen, Beauty & Essex, Mr. Purple and Freemans.
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