Investment Sale – 10-12 Elizabeth Street, New York, NY 10013
Asking Price: $6,000,000
Price per Unit: ≈$285,714/Unit
Sale Type: Investment
Property Type: 2-Star Mid-Rise Apartment Building
Location: Chinatown / Lower Manhattan CBD (10013)
Property Overview
10-12 Elizabeth Street presents a 21-unit, 6-story multifamily asset located in Manhattan’s Chinatown within the Lower Manhattan CBD. Constructed in 1915, this masonry mid-rise offers investors the opportunity to acquire a stabilized Class C apartment building with long-term upside potential through repositioning or value-add strategies.
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The property’s 17,748 SF gross building area provides efficient layouts across approximately 2,609 SF typical floorplates. Its prime location benefits from strong neighborhood demographics, steady tenant demand, and proximity to major transportation hubs.
Key Features
- Total Units: 21
- Asking Price: $6,000,000
- Price per Unit: ≈$285,714
- Gross Building Area (GBA): 17,748 SF
- Typical Floor Size: ≈2,609 SF
- Stories: 6
- Year Built: 1915 (masonry construction)
- Class: C / 2-Star Mid-Rise Apartments
- Density: ≈300 units per acre
- Configuration: Single building with efficient layouts, 1–2 units per tier
Market Profile
- Location Advantage: Situated in Chinatown, within Manhattan’s CBD, the property is surrounded by vibrant retail, dining, and cultural corridors, with access to Tribeca, SoHo, and the Lower East Side.
- Transit Access: Close to Canal Street (N/Q/R/W, 6, J/Z) and East Broadway (F), ensuring strong connectivity to Midtown and Brooklyn.
- Neighborhood Demand: Driven by strong residential tenant base, consistent rental demand, and limited new development supply in the area.
- Competitive Advantage: Rare opportunity to acquire a 21-unit multifamily building in a prime Lower Manhattan corridor with value-add potential.
Financial Overview
- Asking Price: $6,000,000
- Price per Unit: ≈$285,714
- Rent Type: Market
- Potential Upside: Through renovation, repositioning, or optimization of in-place rents
Summary
The 21-unit, 17,748 SF multifamily property at 10-12 Elizabeth Street, New York, NY 10013 is offered for $6,000,000 (~$285,714 per unit). With its Lower Manhattan CBD location, stable tenant base, and repositioning potential, this property represents an attractive opportunity for investors seeking exposure to Manhattan’s multifamily market.
