48 Allen St #1/2, New York, NY 10002

49 Orchard Street and 48 Allen Street comprise a rare blockthrough retail condominium on the Lower East Side, one of the only properties of this scale with simultaneous frontage on both Orchard Street and Allen Street. The two units together offer 1,995 SF of ground floor retail, plus 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 leases that expire simultaneously in May 2027. At the current asking price of $3,000,000, the in place cap rate is 6.46%, a strong current income profile for a Manhattan retail condo in a corridor with near zero vacancy and demonstrably rising rents. A buyer today secures in place income, with a clear path to mark to market rents or owner occupancy when both leases roll simultaneously.