Highlights
• Tax Class 1 – Favorable tax structure • 6.5% Cap Rate – Strong income-generating asset • Steps to major subway lines (B, D, F, M, R, W) and national retailers • Situated in the heart of Bowery/Nolita – High-demand location
Description
A rare opportunity to acquire a fully renovated, luxury 3-story mixed-use building in the heart of Bowery/Nolita, one of Manhattan’s most dynamic and desirable neighborhoods. This exceptional property offers a total of 15,000 BSF, with ~5,000 SF above grade and an additional 10,000 SF of unused air rights, providing significant upside for future vertical expansion. The building features high-end luxury apartments with private outdoor decks, perfectly designed for discerning tenants, and a large street-level retail space ideal for an owner-user or investor. Positioned directly behind the iconic Public Hotel, the property benefits from premium visibility and foot traffic.
Listing Details
- Cap Rate
6.71%
- Tenancy
Multi
- Space Type
mixed-use
- Sub Category
mixed-use-multifamily / mixed-use-retail
- Sale Type
Investment Sale
- Date Listed
6/9/2025
- Investment Type
Owner User
Property Specifics
- Property Name
261 Bowery
- Property Class
C
- No of Buildings
1
- No of Stories
3
- No of Units
3
- Year Built
1910
- Building Size
4,922 SF
- Lot Size
0.06 AC
- APN
0427-0009
- Zoning
C6-1 - a commercial zoning district that allows for a variety of commercial and residential buildings.