Multi-family

Rare Downtown Owner-User or Investment Opportunity – 115 South Street

Address: 115 South Street, New York, NY, 10038
Price: $14,250,000 ($2,035,714 per Unit)
Sale Type: Owner-User or Investment Sale
Type: 3-Star Mid-Rise Apartments
Location: Urban – Central Business District (CBD) / South Street Seaport Area
Units: 7 Residential Units
Avg Unit Size: 1,371 SF
Stories: 5 Stories
Building Class: C
Gross Building Area (GBA): 13,119 SF
Typical Floor Size: 2,600 SF
Number of Buildings: 1
Units per Acre: 117 Units/AC
Market Segment: All (Private Buyers, Investors, and Owner-Users)
Rent Type: Market Rate

Investment Overview:

115 South Street offers an extraordinary opportunity for an owner-user or investor to acquire a boutique residential property in Manhattan’s historic South Street Seaport District. Featuring large, market-rate units within a five-story mid-rise, this asset offers flexible usage options—ideal for residential investment, full or partial owner occupancy, or mixed-use redevelopment potential.

Key Features:

Historic Downtown Manhattan Location:

✔ Situated in the vibrant South Street Seaport area, close to Fulton Street, Wall Street, and Pier 17
✔ Immediate access to restaurants, retail, parks, waterfront promenades, and cultural attractions
✔ Prime location combining historic charm with rapid neighborhood revitalization

Flexible Boutique Asset:

✔ 7 oversized market-rate units averaging 1,371 SF each
✔ Potential for luxury residential use, live/work spaces, or premium rentals
✔ Single 5-story mid-rise structure offering efficient management and operation

Building Specifications:

✔ 13,119 SF Gross Building Area with typical floors averaging 2,600 SF
✔ Single building with strong unit density (117 units/AC)
✔ Class C property offering long-term value growth with strategic repositioning opportunities

Financial Highlights:

✔ Asking Price: $14,250,000 ($2,035,714 per unit)
✔ Market-rate tenancy providing strong cash flow and rental upside
✔ Ideal for an owner-user seeking prime downtown residential or live/work space with income potential

Conclusion:

115 South Street is a rare find in the heart of Lower Manhattan, offering tremendous flexibility for both investors and owner-users. With large unit layouts, historic character, and proximity to downtown’s most dynamic destinations, this property stands out as a strategic acquisition opportunity.

Contact us today to request additional information or schedule a private tour