JLL Capital Markets has been appointed to handle the sale of the S&H Portfolio, a significant collection of eight mixed-use buildings located across Manhattan’s most desirable neighborhoods. This portfolio, comprising 137 apartments and 15 retail units, represents a unique opportunity to acquire well-established properties with a strong history of self-management.
Key Takeaways
- A portfolio of eight mixed-use buildings featuring 137 apartments and 15 retail spaces is being brought to market.
- The properties are situated in sought-after Manhattan neighborhoods including the East Village, Lower East Side, Greenwich Village, and Upper East Side.
- The portfolio offers a blend of stable cash flow and potential for value-add improvements.
Portfolio Overview
The S&H Portfolio encompasses a total of 84,472 square feet and has been meticulously assembled by its long-term ownership over three decades. The properties are strategically located in the East Village, Lower East Side, Greenwich Village, and the Upper East Side, areas known for their vibrant residential and commercial activity. The portfolio has been self-managed, indicating a deep understanding of the assets by the current owners.
Investment Highlights
According to Hall Oster, part of the JLL marketing team, the portfolio boasts "well-located properties with very good base building conditions and legacy finishes." He further highlighted that "buyers will be excited by the strong in-place cash flow, clear value-add opportunity and strong retail locations." This suggests a compelling investment proposition for potential buyers seeking both immediate returns and future growth.
The JLL team responsible for marketing this exclusive portfolio includes Vickram Jambu, Hall Oster, Guthrie Garvin, Rob Hinckley, and Teddy Galligan.
Property Locations
Each of the eight buildings within the S&H Portfolio is transit-oriented, offering residents and businesses excellent accessibility to multiple subway lines. The specific addresses include:
- 38-40 Carmine St.
- 90 Rivington St.
- 96 Orchard St.
- 156 Orchard St.
- 126 First Ave.
- 153 Ave. C
- 181-185 E. Houston St.
- 310 E. 93rd St.
The prime locations and the nature of the assets are expected to attract significant interest from investors in the dynamic New York City real estate market.