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Lower East Side, Manhattan, NY 10002
Property Type
Condo
Views
Other
Pets Allowed
Yes
Maintenance/CC
$100 (Monthly)
RE Tax
$100 (Monthly)
Listing courtesy of Jed Klebanow of Douglas Elliman Real Estate.
49 Orchard Street and 48 Allen Street comprise a rare block-throughretail condominium on the Lower East Side - one of the onlyproperties of this scale with simultaneous frontage on both OrchardStreet and Allen Street. The two units together offer 1,995 SF ofground-floor retail, with an additional 584 SF of elevator-connected,ADA-compliant cellar space on the Allen Street side.The property is 100% occupied by New Ealam under two leasesexpiring simultaneously in May 2027. At the current asking price of$3,000,000, the in-place cap rate is 6.46% - a strong current-incomeprofile for a Manhattan retail condo in a corridor with near-zerovacancy and demonstrably rising rents.The 2027 lease expiration is the investment thesis. A buyer todaysecures in-place income at 6.46%, with a clear path to mark-to-marketrents or owner-occupancy when both leases roll simultaneously.
101
99
2
0
Manhattan
RLS20098702
1,995 Sqft
$100 (Monthly)
Lower East Side
Building None
Condo
$100 (Monthly)
T, Yes - Other
Bike Storage
Bike Storage
1
Building Other
High Rise
17
7
Condominium
Yes
Lower East Side
Manhattan
T, Yes - Other
$100 (Monthly)
$100 (Monthly)
Washer Dryer Allowed
Other
Yes
1
Total$15,926.22/Month
*The values provided are approximate. For more precise information, please contact a BHS agent who can offer further assistance.
49 Orchard Street #RETAIL, New York City, NY
Open in Google Maps| Address | Size | Sold For |
|---|---|---|
| 500 Grand Street #C11A #C11ALower East Side | 1 BR / 1 BA | $699,000,100 |
| 550 Grand Street #G11D #G11DLower East Side | 1 BR / 1 BA | $69,000,091 |
| 475 Fdr Drive #L1204 #L1204Lower East Side | 1 BR / 1 BA | $60,000,050 |
| 504 Grand Street #D51 #D51Lower East Side | 1 BR / 1 BA | $600,000 |
| 139 Norfolk Street #A #ALower East Side | 1 BR / 1 BA | $600,000 |
| 139 Norfolk Street, #A #ALower East Side | 1 BR / 1 BA | $600,000 |
| 212 Forsyth Street #58 #58Lower East Side | 1 BR / 1 BA | $895,000 |
| 171 Henry Street #6C #6CLower East Side | 1 BR / 1.5 BA | $1,065,000 |
| 171 Henry Street, #6C #6CLower East Side | 1 BR / 1.5 BA | $1,065,000 |
| 212 East Broadway #G1806 #G1806Lower East Side | 1 BR | $105,600,011 |
| 212 East Broadway, #G1806 #G1806Lower East Side | 1 BR / 1.5 BA | $1,056,000 |
| 118 Suffolk Street #1A #1ALower East Side | 1 BR | $642,500 |
Closed sales recorded by Brown Harris Stevens agents.
The Lower East Side is a historic Manhattan neighborhood known for its cultural significance, architectural character, and evolving residential landscape. Long associated with New York City’s…
RLSat REBNYThis information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.
Last Updated: Jun 27, 2026 at 4:27 AM
RLS Data displayed by Brown Harris Stevens