96 Bowery - Office FOR SALE


New York, NY 10013- Chinatown
$8,900,000 USD
646-261-9999
96 Bowery, New York, NY for Sale
$8,900,000 USD
Office - FOR SALE
1/15
null | Request Cap Rate

96 Bowery
New York, NY 10013
Chinatown


OVERVIEW

Kin Yu Realty Management Corp. is pleased to present 96 Bowery Street, a five-story, mixed-use commercial building situated in the heart of Chinatown. Built in 1910, the property totals approximately 9,850 square feet across five units on a 25 x 99 ft lot, zoned CG-1G with office and commercial use. The ground floor is anchored by a high-performing commercial tenant generating nearly $25,000/month, with four upper-floor office units rounding out the rent roll. At the asking price of $8,900,000, the property is offered at approximately $934/SF. The investment presents a compelling pro forma story: two currently vacant floors (3rd and 5th) represent immediate upside, with pro forma rents projected to push annual income from $421,374 to $561,774 — delivering a stabilized cap rate of 4.39% and a net operating income of $404,287. With total annual expenses of approximately $157,486, the building's income profile is clean and straightforward. Located on one of lower Manhattan's most trafficked corridors, 96 Bowery offers an investor the rare combination of a strong existing tenancy, clear value-add potential, and an irreplaceable Chinatown address.

FOR SALE DETAILS

PRICE

$8,900,000 USD

PRICE/SF

$904 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

C

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

2,891 SF

ZONING

C6-1G

APN/PARCEL ID

0239-0035

ASK ABOUT THIS PROPERTY

Leon TsoiKinyu RealtyMore Info
646-261-9999

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Leon TsoiKinyu RealtyMore Info
646-261-9999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.