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About the Listing 334 - 26895
Prime Multi-Family Asset, Built 25' x 95' Seldom does an opportunity materialize to acquire a core multi-family asset on Franklin Street, a coveted block in Manhattan's premier enclave: Tribeca. Virtually non-existent in the current market, this property represents the epitome of safe-haven real estate. It's a product type that remains in demand by global investors, private wealth offices, and institutional funds. Comprising four expansive, full-floor, loft-style 3-bedroom residences, plus a first floor duplex with its own outdoor space, this 100% leased building combines historical Tribeca pedigree with contemporary features.
- On a prime Tribeca block, this asset sits at the intersection of global wealth and cultural influence.
- Record-Breaking Fundamentals: Q1 and Q2 2026 have recorded the highest median Manhattan rent in history. The market is currently experiencing a significant supply-demand imbalance, favoring owners of high-end inventory.
- 3-Bedroom Alpha: While the broader market is climbing, the 3-bedroom sector has outperformed, accelerating 24% year-over-year, significantly outpacing gains for smaller units.
- Immediate Yield Expansion: Three of the five active leases are scheduled to reset across consecutive months this summer. This provides a near-term path to capturing significant additional income and a substantially more attractive cap rate.
- Seamless Transition: Current ownership has established a reporting structure and process that will ensure a frictionless handoff for the incoming investor.
- Mechanical Excellence: High-efficiency hot water heaters and significant elevator infrastructure upgrades.
- Aesthetic Refresh: A newly renovated lobby and entryway provide a "high-profile" arrival experience consistent with the neighborhood's luxury standards.
- Lifestyle Amenities: A gorgeous furnished roof deck offers residents expansive outdoor space, a critical driver for premium rents in the current market.
- The Residences: Units 2, 3, 4, and PH are full-floor layouts. Each features a 3-bedroom gourmet kitchen and open plan concept designed specifically for the tenant profile that Tribeca attracts.
- Occupancy: 100%
- Unit Mix: Four (4) Full Floor 3-BR/3Bath Units, plus One (1) First Floor Duplex with private outdoor space
- Lease Reset: Summer 2026 (3 units in consecutive months)
- Neighborhood: Tribeca (Franklin Street)
Interior Details
- Bedrooms: 15
- Bathrooms: 14 Full / 1 Half
- Appliances: Washer Dryer Allowed
- Air Cond: Central Air
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: High Ceilings,Smoke Free,Building Yes,No,Pets Allowed
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 100.83x25.00
- Zoning: C6-2A
- Roof:
- Others: Private Outdoor Space Over 60 Sqft
- Sewer:
Financial Details
- Tax Amount: $248,556
- Taxes w/Assessments: N/A
- Tax/Property ID: 0178-0006
- Tax Year: N/A
Payment Calculator
Monthly Payment
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106 Franklin St New York, NY 10013
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