Prime Investment Opportunity in Bowery – 261 Bowery
Address: 261 Bowery, New York, NY, 10002
Price: $6,995,000 ($1,748,750/Unit)
Cap Rate: 6.48%
Sale Type: Investment or Owner-User
Type: 3-Star Low-Rise Apartments
Location: Central Business District (CBD)
Units: 4
Stories: 3
Building Class: C
Gross Building Area (GBA): 4,922 SF
Typical Floor Size: 1,641 SF
Number of Buildings: 1
Units per Acre: 67/AC
Market Segment: All
Rent Type: Market
Investment Overview:
261 Bowery presents an exceptional investment opportunity in one of Manhattan’s most dynamic and rapidly appreciating neighborhoods. This low-rise, four-unit mixed-use building offers strong rental income potential, excellent visibility, and future appreciation in a high-demand area known for its cultural significance, luxury developments, and trendy commercial appeal.
Read More
Key Features:
Prime Bowery Location:
- Situated in the heart of Bowery, a historic district undergoing major redevelopment, making it one of NYC’s most sought-after investment markets.
- Steps from SoHo, Nolita, and the Lower East Side, attracting a diverse mix of young professionals, creatives, and high-net-worth individuals.
- Surrounded by boutique hotels, luxury condominiums, art galleries, high-end retail, and Michelin-starred dining, ensuring steady rental demand and long-term appreciation potential.
High Rental Income & Growth Potential:
- Four market-rate units, allowing for flexible leasing strategies and attractive returns.
- Cap rate of 6.48%, making it an ideal income-producing asset with stable cash flow.
- Opportunity for renovations, upgrades, or redevelopment, increasing both rental yields and long-term value.
Well-Maintained Low-Rise Property:
- 4,922 SF across three stories, featuring spacious residential units with an average floor size of 1,641 SF.
- Class C construction, offering value-add potential through modernization and tenant repositioning.
- Investor-friendly asset with a historically low vacancy rate and strong neighborhood demand.
Excellent Transit Access:
- Steps from major subway lines (J, Z, 6, N, R, W at Canal Street, B, D at Grand Street, F at 2nd Avenue), providing easy access to Midtown, Downtown, and Brooklyn.
- Well-served by bus routes, bike lanes, and pedestrian-friendly streets, increasing tenant and commercial desirability.
Thriving Investment Market & Neighborhood Growth:
- The Bowery corridor continues to see rising property values, with high-end developments and an influx of luxury tenants and businesses.
- Ideal for long-term investors, developers, or owner-users looking to capitalize on one of NYC’s most exciting real estate markets.
- Competitive pricing at $6,995,000, offering great value for an appreciating, income-generating multi-family asset.
Investment Highlights:
✔ Four-unit mixed-use building in a prime Bowery location
✔ $6,995,000 asking price ($1,748,750/unit) with a strong 6.48% cap rate
✔ 4,922 SF total space with potential for value-add improvements
✔ Stable rental income with significant appreciation potential
✔ Surrounded by luxury retail, art galleries, restaurants, and transit hubs
Conclusion:
261 Bowery presents an unparalleled opportunity for investors or owner-users looking to acquire a cash-flowing property in a rapidly growing area. With a strong cap rate, prime location, and long-term appreciation potential, this property is perfect for multi-family investors, boutique developers, or business owners seeking a high-value real estate asset in Lower Manhattan.
Contact us today to schedule a private tour and secure this exceptional investment opportunity!
