Multi-family

Mixed-Use Investment Opportunity with Strong Yield – 261 Bowery, Lower East Side

Asking Price: $6,495,000
Price/Unit: $2,165,000
Cap Rate: 6.98%
Units: 3 (All Market Rate)
Gross Building Area (GBA): 4,922 SF
Stories: 3
Class: C (3-Star Low-Rise Apartments)
Sale Type: Investment or Owner-User
Location: Bowery Corridor / Lower East Side – Manhattan CBD
Status: Active – For Sale

Property Overview:

261 Bowery offers a rare opportunity to acquire a high-performing mixed-use property in one of Manhattan’s most energetic and culturally rich corridors. Featuring three expansive market-rate residential units, this 4,922 SF building is ideal for investors seeking strong in-place income or owner-users looking to occupy or redevelop in a prime downtown location.

Investment Highlights:

• Attractive In-Place Yield: 6.98% cap rate provides immediate cash flow in a core Manhattan location
• Full Market Exposure: All units are market-rate, offering rental flexibility and future upside
• Boutique Asset: Only 3 large residential units—ideal for executive rentals, artist lofts, or live/work configurations
• Efficient Configuration: Typical floor size of 1,641 SF across 3 full stories
• Owner-User Potential: Convert one unit for private use while retaining income from the others

Location Advantages:

• Prime frontage on Bowery, surrounded by art galleries, boutique hotels, and top-tier restaurants
• Walking distance to SoHo, Nolita, and Chinatown, with easy access to the B/D, F/M, J/Z, and 6 subway lines
• Dynamic and rapidly appreciating neighborhood with continued development and residential demand

Summary Metrics:

• Price: $6,495,000
• GBA: 4,922 SF
• Stories: 3
• Units: 3
• Average Unit Size: ~1,640 SF
• Zoning: Residential – Market Rate
• Units per Acre: 50/AC
• Building Class: C

Conclusion:

261 Bowery represents a unique opportunity to secure a high-yield, mixed-use asset in one of downtown Manhattan’s most desirable and high-growth corridors. With strong financial performance, market-rate flexibility, and potential for owner occupancy, this property is well-suited for both seasoned investors and long-term holders.

Contact us today to request financials, floor plans, or arrange a private showing.