422 Hudson Street, Manhattan — Over 5% Yield, Fully Free-Market, and Designed for Hands-Off Ownership from Abroad
NEW YORK, May 5, 2026 /PRNewswire/ — NYR.com — New York Residence Inc., a Manhattan investment sales firm specializing in landmark and institutional-quality assets, is offering 422 Hudson Street, a historic mixed-use building in the heart of the West Village, to investors at an asking price of US$11,250,000.
New York -422 Hudson St NYR.com
The property is located within walking distance of the Manhattan offices of Google, Disney, and Meta (formerly Facebook), placing it at the center of one of New York City’s most desirable and supply-constrained residential submarkets. West Village zoning and landmark protections sharply limit new construction, supporting long-term value and consistent leasing demand. The building is fully rented and can be delivered as turnkey operation, easy to manage even from afar.
Built in 1875, the four-story landmarked building contains three free-market residential apartments and a ground-floor commercial space. The retail tenant, Lelabar, is among New York’s most acclaimed wine bars, recognized by Travel + Leisure, The Wine Enthusiast, CBS, and Wine Spectator. Lelabar has operated successfully at this location for more than 20 years and remains a thriving neighborhood institution, with a long-term lease in place through 2032 and contractual 3% annual rent escalations.
The building has recently undergone a comprehensive renovation completed in close coordination with the New York City Landmarks Preservation Commission, which is particularly protective of the West Village historic district. Improvements include a new roof, new gourmet kitchens in each apartment, multi-zone central air conditioning, and sound-insulating windows — all executed while preserving the building’s original architectural character, including exposed timber beams, original brick walls, and wood-burning fireplaces.
422 Hudson Street is fully leased and 100% free-market. In-place gross rent is approximately US$710,000 per year, with a proforma capitalization rate exceeding 5% based on contractual lease extensions. The property is professionally managed and structured for fully hands-off ownership, making it well suited to overseas investors seeking secure U.S. dollar income from a trophy Manhattan address without day-to-day involvement.
A complete information package — including the offering memorandum, rent roll, expense schedule, floor plans, and photography — is available to qualified investors upon request. “It is rare to find a fully free-market, renovated West Village asset at this price point, especially with stabilized retail income and such limited operational requirements,” said Thomas Guss, President and Broker at New York Residence Inc.
Media & Investor Contact
Thomas Guss, President / Broker
New York Residence Inc.
Office: +1 (212) 360-7000 ext. 103 | Direct: +1 (212) 365-4751
Email: TG@NYR.com | Web: NYR.com
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