$5,750,000 $6,000,000
Updated 12 hours ago
Price drop

118 Mulberry Street

Little Italy, Manhattan | Hester Street & Canal Street

Income Property

$5,750,000 $6,000,000
floors / apts5 / 12
Lot Size25'x100'
Building TypeLow-Rise
RE Taxes$105,987

Building Amenities

  • Voice Intercom

Property Description for 118 Mulberry Street

Welcome to a truly remarkable property nestled in the heart of Chinatown/Little Italy. This exceptional opportunity presents itself as a haven for both investors and visionaries alike. Comprising a front and rear building, this property boasts a commercial storefront tenant that guarantees a steady income stream, alongside 12 charming residential units. With a spacious 25 x 100 lot, and zoned C6-2G, the possibilities are limitless for expanding and enhancing this already impressive space. Currently enjoying a rent roll surpassing $309,495, this investment promises not only immediate returns but also the potential for substantial future growth. Don't miss your chance to be a part of the captivating charm and unlimited potential.

Listing History for 118 Mulberry Street

$5,750,000 [-$250,000] [4.2%]
Price Drop by Delton Cheng
Century 21 Homefront
Initial Price by Delton Cheng
Century 21 Homefront

Building Details for 118 Mulberry Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
Year Built1900
Learn More About the Building

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: 92134TH