Updated 6 years ago
Off Market
48 Allen Street
Chinatown, Manhattan | Hester Street & Grand Street
13,134 Square FeetIncome Property
$13,250,000
floors6
Lot Size25'x88'
ZoneC6-2
Building TypeLow-Rise
Price Per SF
$1,009
Building Amenities
- Voice Intercom
- Elevator
Property Description for 48 Allen Street
Delivered vacant, the subject property is a 6 story elevatored block-through building with frontage on Allen and Orchard Streets. 48 Allen Street AKA 49 Orchard Street is a renovated commercial building and is currently owned and fully occupied by Chinese Christian Herald Crusades. The building consists of approximately 15,334 gross square feet which includes a 2,200 gross square foot finished lower level that contains offices and restrooms. Floors 1 through 6 consist of offices, an assembly area, a library, reading room, living quarters, dining rooms, restrooms, and living rooms. The living quarters on the upper floors serve as guest rooms for visiting members and provide lodging for up to 50 people. Considering the building will be delivered vacant, 48 Allen Street is ideal for an end user interested in occupying all or a portion of the building. Furthermore, the property is located in a C6-2 zone, commercial use such as a hotel would be permitted and therefore the buyer could convert the existing building into a hotel. Alternatively, the building could be converted into residential use such as rental or condominium units.
Listing History for 48 Allen Street
Now
09/19/2014
POM by Michael F. DeCheser
Cushman & Wakefield
04/10/2014
$13,250,000 [-$1,750,000] [11.7%]
Price Drop by Michael F. DeCheser
Cushman & Wakefield
Building Details for 48 Allen Street
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessElevator
Floors6
Transit and Citi Bike
Subway
Grand St
0.17 miles
East Broadway
0.21 miles
Delancey St-Essex St
0.23 miles
Bowery
0.29 miles
Canal St
0.46 miles
Citi Bike
Allen St & Hester St
0.04 miles
Orchard St & Grand St
0.07 miles
Contact Agents
Contact Agents
Michael DeCheser
Cushman & Wakefield
Darragh Clarke
Cushman & Wakefield
Mei Ling Wong
Cushman & Wakefield
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: 53132TH
Find home. Discover happiness.