Multi-family
Screenshot
For Sale
Multi-family
42, Canal Street, Manhattan Community Board 3, Manhattan, New York County, City of New York, New York, 10002, United States
Description
Listing Description: 42-44 Canal Street, New York, NY, 10002
Prime Investment Opportunity in Manhattan’s Chinatown
Discover a rare chance to invest in a centrally located mid-rise apartment building at 42-44 Canal Street. This 2-star property presents a unique blend of potential and value, making it an excellent addition to any investment portfolio.
Key Features:
- Price: $11,500,000 ($2,300,000/Unit)
- Cap Rate: 2.40%
- Property Type: 2-Star Mid-Rise Apartments
- Location: Central Business District (CBD), Chinatown
- Units: 5
- Stories: 5
- Gross Building Area (GBA): 4,620 SF
- Typical Floor Area: 924 SF
- Class: C
- Number of Buildings: 1
- Units per Area: 250/AC
- Rent Type: Market
Advantages:
- Central Location: Located in the bustling Canal Street corridor, this property benefits from high foot traffic, easy access to public transportation, and proximity to Chinatown’s cultural and commercial hubs.
- Boutique Investment: With just five market-rate units, this property offers a manageable investment opportunity with growth potential.
- Historic Charm: Situated in a vibrant and historic neighborhood, the property appeals to tenants seeking a classic New York City living experience.
This is your opportunity to own a mid-rise apartment building in one of Manhattan’s most iconic neighborhoods, offering a balance of stable income and long-term growth.
Contact us today to learn more or schedule a private showing of this property!
