$75,000,000
Updated 7 years ago
Off Market

The Leo

260-268 Elizabeth Street

Soho, Manhattan | Prince Street & East Houston Street

39,000 Square FeetIncome Property

$75,000,000
floors / apts5 / 48
Lot Size120'3"x439'2"
ZoneC6-2
Building TypeLow-Rise
RE Taxes$539,646
Price Per SF
$1,923

Building Amenities

  • Voice Intercom

Property Description for 260-268 Elizabeth Street

B6 Real Estate Advisors have been retained on an exclusive basis to bring 260-268 Elizabeth Street to market. The property consists of five (5) contiguous mixed-use walk up buildings in Manhattan’s prime Nolita neighborhood. In total, the building has 54 units, 48 residential and 6 commercial, across 39,000 square feet of space. The property benefits from wonderful transportation, with easy access to multiple subway lines, and New York City’s hottest shopping district just steps away. The residential portion of the property is made up of 32 free market units, 15 rent stabilized units and 1 rent controlled unit, allowing for considerable future upside for an investor. Market rents have continually climbed as Nolita is one of the most prime neighborhoods on the island of Manhattan. The property is yielding nearly $3.4m in annual gross revenue and benefits from an additional 25,000 square feet of unused air rights.

Listing History for 260-268 Elizabeth Street

Now
10/21/2019
POM by Zachary Redding
B6 Real Estate Advisors
05/15/2019
$75,000,000
Initial Price by Zachary Redding
B6 Real Estate Advisors

Building Details for 260-268 Elizabeth Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1925
Floors/Apts5/48
Learn More About the Building

Transit and Citi Bike

Subway

Bleecker St
0.16 miles
Broadway-Lafayette St
0.18 miles
2 Av
0.19 miles
Spring St
0.22 miles
Prince St
0.23 miles

Citi Bike

Mott St & Prince St
0.08 miles
E 1 St & Bowery
0.1 miles

Contact Agents

Contact Agents

Zachary Redding
B6 Real Estate Advisors
Daniel O'Mahony
B6 Real Estate Advisors
Michael Hefferon
B6 Real Estate Advisors

Soho | Manhattan

Quick Profile

Famous for its art galleries, designer boutiques, cobblestone streets and cast-iron architecture, SoHo has always been full of buzz - wowing both tourists and locals alike. It’s rich with history (more so than most neighborhoods). So, whether you’re a computer nerd, serial shopper or foodie, you’re guaranteed to find something exciting to do in this storied neighborhood.

SoHo is bounded by Houston Street to the north, Canal Street in the south, 6th Avenue to the west and Crosby Street on the east.

The neighborhood has gone through many ups and downs over its long history. Enough to make a voluminous history book. When the Dutch discovered Lower Manhattan, they came across indigenous people living on the island. Technically, the American Indians were the first Manhattanites and then the Dutch moved in making them the second original Manhattanites. 

After the Civil War ended, the west side of Lower Manhattan flourished because the shipping routes changed. Textiles and the need for all types of products increased. Warehouses and large lofts were built and replaced farmland to accommodate the commerce. Many of those buildings are still standing and give SoHo its unique character and charm.

The bustling commerce eventually stopped and in the mid 1800’s, well-to-do families began moving into SoHo. They built exquisite buildings, many of which are characterized by their cast-iron facades. Soon after it became residential, theatres, music halls and eateries followed. The wealthy eventually left and the once prosperous district began another decline.  

The 1960’s marks SoHo’s most definitive period. City planners lost their bid to build a major highway that would level a portion of the neighborhood and many historic buildings. After their failed attempt to revitalize SoHo, artists quickly moved into the empty lofts and warehouses. Some legally, and other move-ins, not so legal. The city turned a blind eye. Artists of all mediums working from their new creative spaces created a ripple in the art scene. It was such a ripple that the well-to-do uptown crowd started buying their art and hanging out with them. The uptown folks eventually moved into the neighborhood and began buying up the lofts and warehouses. As soon as the word spread, up went the property values and the rest is history. 

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: 76189TH