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.
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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.
