$4,800,000
Updated 3 days ago
Sold
Noho, Manhattan | Bowery & Elizabeth Street
2,700 Square FeetMixed Use

$4,800,000
floors / apts3 / 3
Lot Size20'x62'3"
Built Size20'x50'
ZoneM1-5B
Building TypeLow-Rise
RE Taxes$28,460
Price Per SF
$1,778

This property was sold for $4,800,000 on 09/13/21.

Building Amenities

  • Voice Intercom

Property Description

North side of Bleecker between Elizabeth Street and Bowery Cushman & Wakefield has been exclusively retained to arrange for the sale of 11 Bleecker Street, a 3-story mixed-use building located on the north side of Bleecker Street between Elizabeth Street and Bowery. The building is a one-family building that is set up for potential subdivision into 3 residential units and 1 commercial restaurant space or held as a single family residential townhouse as-is. The residential portion of the building is currently configured as triplex which has been designed for privacy. The building features 2,700 square feet of above-grade space plus the basement which can be used for additional storage. The B, D, F, M, R, W, 4, and 6 subway lines are all steps away from the property. The property benefits from it’s protected tax class (Tax Class 1), which prevents property taxes from increasing by more than 6% per year, cannot exceed 20% over 5 years (unless there is construction or renovation of the property), or exceed 6% of the home’s value. Ideal Owner/User Opportunity The entire building is owner occupied and will be delivered vacant. This presents a prospective buyer the unique opportunity to occupy a portion of the building themselves and collect income from the other units, run the retail for their own business, or convert the entire building into rentals. Value-Add Opportunity The building presents a value-add opportunity for an investor looking to subdivide each of the floors into 3 separate residential units, add bedrooms, and re-tenant the restaurant to boost rental income. Additionally, the lot allows for approximately 3,500 square feet of additional air rights, allowing a builder to add additional floors to the building and possible re-purpose it for boutique office use.

Listing History

Now
09/13/2021
$4,800,000
Sold and Closed by Bobby Carrozzo
Cushman & Wakefield
09/13/2021
$4,800,000
Sold and Closed by Bobby Carrozzo
Cushman & Wakefield

Building Details

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1902
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Bleecker St
0.1 miles
Broadway-Lafayette St
0.18 miles
2 Av
0.21 miles
Prince St
0.27 miles
Spring St
0.32 miles

Citi Bike

E 2 St & 2 Ave
0.11 miles
Bleecker St & Crosby St
0.13 miles
Great Jones St
0.14 miles

Contact Agents

Contact Agents

Bobby Carrozzo
Cushman & Wakefield
Robert Burton
Cushman & Wakefield
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Noho | Manhattan

Quick Profile

NoHo, an acronym for North of Houston, is a trendy neighborhood with expansive lofts, chic shops, and hip eateries. It was once part of Greenwich Village, but as New York City changes and coolness always redefines itself, the neighborhood, which is more like a small nook, has morphed into a happening secession of its own.

Like many New York City neighborhoods, the boundaries are subjective and the exact location always depends on who you ask. Generally, NoHo is understood to be bounded by East Eighth Street to the north, East Houston Street to the south, Bowery Street to the east (which becomes Cooper Square north of East Fourth Street), and Broadway to the west.  

It’s hard to believe that NoHo was once a sketchy no-man’s land with more than its share of dilapidated structures. These gentrified days, it’s a healthy mix of older buildings, renovated warehouses and newer construction by iconic architects. For such a small area, NoHo has three historic districts that cover much of the neighborhood.

Broadway, Bowery, and Lafayette is the business district of the neighborhood. You’ll find it all in this neck of the woods. From trendy one of a kind retailers to popular brand stores. It rivals its SoHo neighbor in places to shop.

Architecture buffs get your walking shoes on. There are many historical and modern buildings throughout the neighborhood. Colonnade Row, the Cable Building, and the Schermerhorn Building are just a few of the many notable buildings you’ll find.

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: 80250TH