October 5, 2020
JLL Capital Markets has been retained to market 98 Forsyth St., a mixed-use elevator building on Manhattan’s Lower East Side. The property is asking $6.95 million.
The JLL Capital Markets team overseeing the sale includes managing directors Hall Oster and Guthrie Garvin, VP Teddy Galligan and director Braedan Gait.
The property was constructed around 1900 and, in its early years, served as a well-known catering hall named Pearl’s Mansion. The building has been owned and operated by the same family for more than 50 years.
At present, the property contains four residential units, three commercial spaces and a ground-floor retail space.
“98 Forsyth is attractive to investors and users looking to put their own stamp on a well-located, mixed-use asset,” Oster said. “Future owners will benefit from six floors of usable space, protected light and air, proximity to the train and flexible zoning which will allow for multiple re-positioning strategies.”
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