The Real Deal New York

LES potential condo conversion site asks $17M

October 07, 2013 11:59AM

45 Orchard Street (center)

45 Orchard Street (center)

A mixed-use building on the Lower East Side’s Orchard Street hit the market asking $16.95 million. The seven-story building at 43-45 Orchard Street has 13 apartments and a retail space currently leased by surf apparel store Lost Weekend. A buyer would have potential for “further upside,” according to the listing, by Massey Knakal Realty Services, because the site could be converted to luxury condominiums.

The 13 market-rate apartments have between three and four bedrooms each, and the building – located between Hester and Grand streets — has an operating annual income of $744,587, according to the listing. [Bowery Boogie]Hiten Samtani 

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