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.
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