$34,500,000
Updated 6 years ago
Off Market
181-183 Canal Street
Chinatown, Manhattan | Elizabeth Street & Mott Street
15,680 Square FeetCommercial
$34,500,000
floors5
Lot Size42'x75'
Built Size42'x75'
ZoneC6-1G
Building TypeLow-Rise
RE Taxes$230,612
Price Per SF
$2,200
Building Amenities
- Elevator
Property Description for 181-183 Canal Street
Cushman and Wakefield has been retained on an exclusive basis to arrange the sale of 181-183 Canal Street. The property is a 5-story 15,680SF elevatored commercial building on the northeast corner of Canal Street & Mott Street. The building consists of 3 ground floor retail spaces, lower level rentable space and offices on floors 2-5. The corner retail space is leased to Flushing Bank until 2029 with a 12.5% increase in year 5. The 2 store fronts on Mott St are also leased until 2029 by a Jewelry Store and Canal Optical and both have 3% annual increase. The 2,500 SF lower level space is currently vacant with a lease out. The offices on floors 2-5 are leased to Revcore until 2028 with 3% annual increases. Revcore occupies floors 4-5 and subleases floors 2-3. The subject property is located in prime Chinatown only 3 blocks from the J, Z, N, Q & 6 trains at the Canal Street Station. The B and D trains are 4 blocks away at the Grand Street Station.
Listing History for 181-183 Canal Street
Now
01/28/2021
POM by Michael F. DeCheser
Cushman & Wakefield
2021
Building Details for 181-183 Canal Street
OwnershipCommercial
Building TypeLow-Rise
AgePre-War
AccessElevator
Year Built1915
Floors5
Transit and Citi Bike
Subway
Canal St
0.15 miles
Grand St
0.21 miles
Bowery
0.29 miles
Spring St
0.37 miles
Chambers St
0.41 miles
Citi Bike
Walker St & Baxter St
0.12 miles
Bayard St & Baxter St
0.14 miles
Contact Agents
Contact Agents
Michael DeCheser
Cushman & Wakefield
Maurice Suede
Cushman & Wakefield
Robert Burton
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: 77564TH
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