18 Spring Street presents a rare opportunity to acquire a boutique multifamily asset in the highly sought-after Nolita neighborhood. Featuring five large, market-rate units in a classic townhome-style building, this property combines stable income with strong long-term value growth potential in one of Manhattan’s most vibrant residential and retail districts.
Key Features:
Prime Nolita Location:
✔ Located on Spring Street between Elizabeth and Mott Streets
✔ Surrounded by luxury boutiques, fine dining, and historic Lower Manhattan charm
✔ Steps to SoHo, NoHo, Little Italy, and the Lower East Side
Efficient Boutique Property:
✔ 5 oversized market-rate apartments averaging 1,100 SF per unit
✔ Classic walk-up building with charming architectural details
✔ Ideal for long-term rental income or potential future condominium conversion
Building Specifications:
✔ 4,500 SF total Gross Building Area with typical floor plates of 900 SF
✔ Single building with a density of 125 units/AC
✔ Class C designation offering value-add opportunities through strategic upgrades
Financial Highlights:
✔ Asking Price: $7,500,000 ($1,500,000 per unit)
✔ 100% market-rate units with strong rental demand
✔ Excellent long-term appreciation potential in one of Manhattan’s tightest rental markets
Conclusion:
18 Spring Street represents a rare boutique investment opportunity in one of New York’s most desirable downtown neighborhoods. Perfect for investors seeking stable cash flow, strong market fundamentals, and an exceptional location in the heart of Nolita’s cultural and retail energy.
Contact us today to request the full offering memorandum or schedule a private tour.
