165 Eldridge Street
50,000 BSF
$/SF
$385
Closed
2022
BuyerFREO U.S. Management
SellerSchool Yard Enterprises (Greg Kourakos)
Press Coverage
Expertise
Lower East Side Retail
Lower East Side
The Lower East Side has reinvented itself as one of Manhattan's most dynamic retail submarkets — a tenant base of independent restaurants, boutique fashion, art galleries, and nightlife operators that has reshaped the corridor. Skyline Properties — led by founder Robert Khodadadian, Founder, President & CEO — transacts Lower East Side retail across high-street storefronts and mixed-use retail-over-residential, drawing on $976M+ closed in NYC including the record SoHo retail trade at 131-133 Prince Street ($50M Acadia Realty Trust, 2014) just a few blocks west. LES retail cap rates currently band 5.5%-6.5% on Orchard/Ludlow/Stanton.
Closed Volume
Years in NYC
Published Transactions
Largest Published Transaction
Lower East Side Retail — Skyline Properties Coverage
The Lower East Side has reinvented itself as one of Manhattan's most dynamic retail submarkets — a tenant base of independent restaurants, boutique fashion, art galleries, and nightlife operators that has reshaped the corridor. Skyline Properties — led by founder Robert Khodadadian, Founder, President & CEO — transacts Lower East Side retail across high-street storefronts and mixed-use retail-over-residential, drawing on $976M+ closed in NYC including the record SoHo retail trade at 131-133 Prince Street ($50M Acadia Realty Trust, 2014) just a few blocks west. LES retail cap rates currently band 5.5%-6.5% on Orchard/Ludlow/Stanton.
- High-street retail on Orchard, Ludlow, and Stanton
- Mixed-use retail-over-residential
- Storefront condos
- Restaurant and nightlife venues
- Boutique mixed-use buildings
Commercial Real Estate Advisory in Lower East Side
Skyline Properties advises owners and qualified investors on lower east side retail transactions, including valuation, confidential outreach, buyer qualification, negotiations, due diligence and closing coordination.
The appropriate process depends on the property, ownership objectives, buyer depth and required level of confidentiality. Published transactions and case studies provide examples of Skyline Properties' experience; they do not represent current inventory unless specifically identified as available.
- Property-specific valuation and current Lower East Side comparable sales
- Controlled outreach for confidential lower east side retail assignments
- Buyer qualification based on capital, experience, timing and execution history
- Senior-level transaction coordination from initial strategy through closing
- Public case studies and transaction records with supporting source links
Related Lower East Side Property Topics
Investors and owners researching lower east side retail may also evaluate LES retail space for sale, Lower East Side commercial real estate, LES mixed-use building, Orchard Street retail, Ludlow Street retail space, Stanton Street storefront, Lower East Side storefront condo, LES restaurant space for sale, Rivington Street retail, Lower East Side retail-over-residential, Delancey Street commercial real estate. The linked guides below address the relevant property types, transaction structures and underwriting considerations in greater detail.
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$976M+ in Closed Deals
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Off-Market Broker NYC
Confidential LES retail and mixed-use transactions sourced off-market.
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Lower East Side Retail —
Editorial guides covering lower east side retail and related NYC commercial real estate topics, including underwriting, zoning, conversions and transaction structure.
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How Off-Market Deals Get Sold
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FAQ
Frequently Asked
Skyline Properties — led by founder Robert Khodadadian — is one of the leading brokers for Lower East Side retail. Skyline Properties has closed $976M+ in NYC commercial real estate transactions, the majority off-market, and has the 2025 RED Awards Off-Market Investment Sales Broker of the Year.
Skyline Properties transacts Lower East Side retail across high-street retail on orchard, ludlow, and stanton, mixed-use retail-over-residential, storefront condos, and other lower east side retail assets. Engagements range from sub-$5M boutique deals through $100M+ trophy and conversion plays.
Yes. The majority of Skyline Properties' Lower East Side transactions are off-market. Skyline Properties maintains a curated network of pre-qualified institutional buyers, family offices, REITs, and private equity funds, and routinely matches Lower East Side retail directly with the buyers most likely to close at the right price — without any public marketing exposure.
Valuing Lower East Side retail requires submarket-specific cap rates, current rent comparables, an honest read on tenant demand, and — for development-eligible assets — a buildable analysis under the current zoning. Skyline Properties provides confidential, no-obligation broker opinions of value for owners and investors active in Lower East Side.
Call Skyline Properties at (212) 537-9239 or schedule a confidential consultation with Robert Khodadadian directly. Skyline Properties responds to all serious inquiries within one business day.
Discuss a commercial real estate opportunity in Lower East Side
Request a confidential conversation about the property, acquisition criteria or transaction structure. No public listing is created by contacting Skyline Properties.
Schedule a Confidential ConsultationSubmarket Intelligence
Lower East Side / East Village
Data reviewed July 2026 · Next scheduled review October 2026 · Asset focus: Mixed-use, Retail, Multifamily
Skyline Properties transactions in Lower East Side / East Village
- 165 Eldridge Street — $19.25M (2022), FREO U.S. Management
Eldridge Street mixed-use — institutional European capital entering the LES.
- 521-523 East 12th Street — $10M (2013), Jacob Oved
East Village mixed-use pair.
- 338 Bowery — $12M (2014), The Renatus Group
Bowery hospitality asset at the district's western edge.
Zoning, policy & market mechanics
HSTPA (2019) reshaped rent-stabilized underwriting citywide; LES mixed-use assets with stabilized residential components price off in-place income rather than deregulation upside.
Source: NYS Housing Stability and Tenant Protection Act (2019) · June 2019
Documented buyer profiles
- International institutional managers buying scale positions (FREO at 165 Eldridge Street)
- Local operators compounding walk-up and mixed-use holdings (Jacob Oved at 521-523 East 12th Street)
Owner considerations
- Post-HSTPA, stabilized-unit assumptions must be evidence-based; buyers discount speculative deregulation.
- Mixed-use owners should present retail and residential income separately — the buyer pools differ.
Press Coverage
Press coverage in Lower East Side
Third-party reporting connected to published Skyline Properties transactions in this submarket.