$11,400,000
Updated 6 years ago
Sold

11 Essex Street

Chinatown, Manhattan | Hester Street & Canal Street

10,800 Square FeetMixed Use

$11,400,000
floors / apts5 / 24
Lot Size25'x87'5"
Built Size25'x72'
ZoneC6-2
Building TypeLow-Rise
RE Taxes$40,146
Price Per SF
$1,056

This property was sold for $11,400,000 on 08/15/17.

Building Amenities

  • Voice Intercom

Property Description for 11 Essex Street

Vacant Building For Sale in LES - 14,222 SF Buildable
Rare Opportunity - Prime Location in Lower East Side
Potential for a $1.2m Rent Roll

This property is a 6 story building currently configured with 22 residential apartments (one bedrooms) and 2 commercial stores with a gross square footage of 10,800 SF above grade and an additional 1,775 SF basement. The building requires a full gut renovation, and utilizes gas heating. Potential to develop a $1.2 million dollar rent roll: $100 psf for retail units, $30 psf for basement, and $80 psf for apartment rentals; resell for 22 times rent roll after completion, for a $26 million dollar sale. The building can be utilized as a rental building, condo or single family home.

Located in the heart of the Lower East Side, across from Seward Park, this property is an incredible development opportunity.

BROKER CYOF - SELLER IS NOT PAYING A COMMISSION TO OUTSIDE BROKERS

Building Details for 11 Essex Street

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/24
Learn More About the Building

Transit and Citi Bike

Subway

East Broadway
0.09 miles
Delancey St-Essex St
0.27 miles
Grand St
0.29 miles
Bowery
0.41 miles

Citi Bike

Canal St & Rutgers St
0.05 miles
Rutgers St & Henry St
0.11 miles

Contact Agent

Contact Agent

Lorence Dippolito
Misrahi Realty Group

Chinatown | Manhattan

Quick Profile

The roots of Chinatown are said to go back as far as 1858, with the arrival of Cantonese businessman, Ah Ken. Ah Ken made his fortune selling cigars and is thought to have set up the first boarding houses for Chinese immigrants.

Vibrant and bustling, in New York City’s Chinatown, you’ll find the biggest population of Chinese people in the Western Hemisphere. Although Chinatown was established mostly by Cantonese speakers, due to an influx of Fuzhounese speaking Chinese immigrants and Mandarin being the official language of China and Taiwan, Mandarin has become vital to the dynamic tableau that is Chinatown.

Centered around Chatham Square and Columbia Park, Chinatown is transportive yet quintessential New York. Traveling the cozy corridors of Chinatown, bask in the varied languages and cultural diaspora, uniquely American and yet universal. Witness the roots of a place where a community was allowed to grow within a community, a world within a world. See it in the statues, architecture, and signage throughout Chinatown. Smell it seeping out from the multitude of dim sum restaurants, noodle houses, and speakeasies that reside here. Pick up a bao and wander the markets for deals and explore the sometimes brutal historic sites. 

Chinatown is developing. Much of the lower-income housing once available in the area are being refurbished and sold. As a result, the community and its demographic makeup are diversifying. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 60803TH