John J. Stewart & Associates of Marcus & Millichap was the exclusive broker for the sale of 115 Division Street, a five-story mixed-use walk-up building between Allen Street and Essex Street at the base of Orchard Street.

The subject property measures approximately 26 feet by 63 feet totaling approximately 7,535 square feet and sits on a 26 foot by 63 foot C6-2 zoned lot (6.02 FAR maximum).  There are approximately 2,100 square feet of remaining “air rights”.

The subject property contains eight residential and two commercial units.  Six of the eight residential units are one-bedrooms and rent stabilized; one is a rent controlled one-bedroom; and one is free-market and has three-bedrooms, two bathrooms and was renovated last year.  Of the two commercial units, one may be delivered vacant and the other has been occupied by the same tenant since the 1960s.

The building is located one block from the East Broadway F-train station, one block from Seward Park and four blocks south of the Essex Crossing development which will add 1.9 Million square feet of residential, commercial, and community space to the area (2024 estimated completion).