213 Front St New York, NY 10038
233 Front St New York, NY 10038
227 Front St New York, NY 10038
229 Front St New York, NY 10038
214 Front St New York, NY 10038
222 Front St New York, NY 10038
24 Peck Slip New York, NY 10038
- 95 luxury residential units and 15 retail units across 7 properties in the South Street Seaport Historic District
- $4,600,910 in-place NOI at 89% residential occupancy and 80% retail occupancy
- 38% discount between preferential and legal rents for the 50 units with preferential rents offers immediate upside at lease turnover
- Luxury amenities including communal courtyards and rooftop decks with views of the East River and Brooklyn Bridge
- Current ownership completed major capital improvements in 2012 to prevent potential storm and flooding damage
- All 7 properties are on the same block, allowing for management efficiency
- Combined 440’± of frontage along Front Street and 175’± of frontage along Peck Slip
- Immediate scale opportunity in one of New York City’s most historic and desirable neighborhoods
- Continued massive investment by Howard Hughes Corporation for development in the South Street Seaport and Pier 17 is a testament to the area’s success and continued
- 9.5% year-over-year increase in South Street Seaport neighborhood rents
- Direct access to multiple forms of transportation
Portfolio Description
Avison Young, as exclusive agent, is pleased to offer for sale the Front Street Portfolio (“Portfolio”), comprised of seven mixed-use elevator properties on Front Street between Peck Slip and Beekman Street in the South Street Seaport neighborhood of Manhattan. This rare opportunity includes 213-217 Front Street, 225-227 Front Street, 229 Front Street, 235 Front Street, also known as 36 Peck Slip, 214 Front Street, 220 Front Street and 236 Front Street, also known as 24 Peck Slip. Combined, the buildings are 88% occupied with strong-in place rents that offer a value proposition to nearby new construction.