115 & 117 Ludlow Street

Marcus & Millichap is exclusively representing the sale of 115 & 117 Ludlow Street, two adjacent mixed-use walk-up buildings located between Rivington and Delancey Streets in the heart of the Lower East Side. 115 Ludlow spans 20 by 70 feet on a 20 by 88-foot lot, while 117 Ludlow measures 25 by 74 feet on a 25 by 88-foot lot; both are zoned C4-4A, have minimal unused development rights, and are not within a historic district. Together, the properties feature one large ground-floor commercial space of approximately 2,900 square feet—formerly a family-owned grocery store and now vacant—along with a total of eighteen apartments (eight two-bedroom units at 115 Ludlow and ten three-bedroom units at 117 Ludlow).

This offering provides investors the chance to acquire long-term family-owned assets with strong value-add potential through professional management, operational improvements, and repositioning of the retail space in a neighborhood renowned for its restaurants and nightlife. Surrounded by trendy boutiques, acclaimed dining, and vibrant entertainment venues, the properties benefit from heavy foot traffic and strong tenant demand. Additionally, the location offers excellent connectivity just two blocks from the Delancey-Essex subway station (F, M, J, Z lines) and near Essex Crossing, a 1.65-million-square-foot mixed-use development featuring residential units, offices, retail, the Essex Street Market, cultural attractions, and community amenities.