Marcus & Millichap Inc.
09/19/2025 | Press release | Archived content
Marcus & Millichap Brokers $13.5 Million Sale of Mixed-Use Property on Manhattan’s Lower East Side
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Marcus & Millichap Brokers $13.5 Million Sale of Mixed-Use Property on Manhattan's Lower East Side
September 19, 2025
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NEW YORK, Sept. 19, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 30-unit mixed-use property at 135 Eldridge St. on the Lower East Side of Manhattan 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 Logan Markley represented the seller in the transaction.
The six-story building, constructed in 1900, totals 21,648 square feet 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.
"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 Logan Markley represented the seller in the transaction.
The six-story building, constructed in 1900, totals 21,648 square feet 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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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on September 19, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on September 23, 2025 at 18:42 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]