$6,900,000
Updated 5 years ago
Off Market

5 Prince Street

Little Italy, Manhattan | Elizabeth Street & Bowery

3,500 Square FeetMixed Use

$6,900,000
floors / apts3 / 2
Lot Size20'6"x91'1"
Built Size20'6"x87'
ZoneC6-1
Building TypeLoft
RE Taxes$47,156
Price Per SF
$1,971

Building Amenities

  • Voice Intercom

Property Description for 5 Prince Street

Cushman & Wakefield has been exclusively retained to arrange for the sale of 5 Prince Street, a 3-story mixed-use multifamily building centrally located in a prime area of NoLita. The property is comprised of 2 free-market residential loft units and a convertible ground floor. The entire building will be delivered vacant, therefore providing an investor with a prime value-add opportunity. 5 Prince Street is an ideal conversion/development opportunity for a developer or user buyer. The property has an additional 7,750 square feet of air rights available, thus it is possible to build on top of the existing structure for additional square footage or renovate the property as-is. The building is centrally located near various transportation options.

Listing History for 5 Prince Street

Now
06/03/2021
POM by Robert Burton
Cushman & Wakefield
2021

Building Details for 5 Prince Street

OwnershipMixed Use
Building TypeLoft
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts3/2
Learn More About the Building

Transit and Citi Bike

Subway

Bowery
0.16 miles
Spring St
0.19 miles
2 Av
0.19 miles
Broadway-Lafayette St
0.24 miles
Bleecker St
0.24 miles

Citi Bike

Mott St & Prince St
0.08 miles
Stanton St & Chrystie St
0.11 miles

Contact Agents

Contact Agents

Robert Burton
Cushman & Wakefield
Bobby Carrozzo
Cushman & Wakefield

Little Italy | Manhattan

Quick Profile

It’s fitting that the neighborhood’s name is Little Italy because It’s been getting smaller for decades. The Italian immigrants that flooded New York City and built the vibrant ethnic enclave in the 1860s and 1880s eventually left for greener pastures, assimilating into other parts of the city or suburbs. The disappearance of Little Italy is a sad story as far as neighborhoods go, but it’s one that should be told. 

Little Italy once spanned 50 square blocks and represented the biggest population of Italian immigrants in America. But in recent years, it’s been squeezed by the growth of Chinatown and SoHo and muscled from the rebranding of other neighborhoods like NoHo and NoLIta. In fact, NoLita was the culprit that cut the neighborhood in two. Little Italy’s boundaries may vary depending upon who you ask. Today it’s down to just a few blocks along Mulberry Street. 

One of the best ways to experience Little Italy is through its food. Take your pick from mom-and-pop markets, meat and cheese shops, or authentic sit-down restaurants that offer the very best in Italian cuisine. 

Every September (since 1926), the neighborhood hosts the Feast of San Gennaro, which celebrates the patron Saint of Naples Italy. 11 days of food, colorful parades, music performances, and more food. The aroma of zeppole and grilled sausage can be smelt for blocks. Try planning your visit around this festive time. It’s well worth it. 

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: 77603TH