Manhattan Multi-Unit Residential
For Sale
$10,000,000
117 Mott Street New York, Ny, NY 10013
Multi-unit residential building at 117 Mott Street in Manhattan’s Chinatown/Lower East Side with flexible apartment layout possibilities.
Property Size10,600 SF
Price / SF$943.40
Days on Market32
Property Features for 117 Mott Street New York
General Information
Standard status
Active
Size
10,600 SF
Zoning
C6-2G
Taxes and HOA fees
Annual Taxes
$107,173
Amenities
Finished
5
Yes
Public
No
10600
Building Details
Building Size
10,600 SF
Year Built
1915
Stories
5
Tenancy
Multi
Listing Agency:
(718) 684-8000
Listed By:
Mohammed Amran
(718) 684-8000
Source:
Parkassets
Added: Jul 10
Changed: Aug 10
Last Checked: Aug 10 at 1:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mohammed Amran
Investment Insights
Based on property information with market context.
117 Mott Street is a multi-unit residential income building in Manhattan, presented with character and flexibility for a range of residential unit layouts. The property can support studio and one-bedroom configurations, and the current structure is described as adaptable for possible two-bedroom conversions.
Located in the Chinatown / Lower East Side area, the building is positioned on a classic tree-lined block with convenient access to public transportation, neighborhood shops, restaurants, and cultural destinations, along with parks nearby.
The property is offered for sale as a long-term rental investment or as an opportunity for renovation and repositioning, with the seller’s remarks also noting potential for mixed-use possibilities.
Located in the Chinatown / Lower East Side area, the building is positioned on a classic tree-lined block with convenient access to public transportation, neighborhood shops, restaurants, and cultural destinations, along with parks nearby.
The property is offered for sale as a long-term rental investment or as an opportunity for renovation and repositioning, with the seller’s remarks also noting potential for mixed-use possibilities.
Key Highlights
- Multi‑unit building at 117 Mott Street in Manhattan’s Chinatown/Lower East Side
- Finished basement (basement level finished; basement present)
- 5 total stories
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$331,645
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,632,900
$6.6M
Cap Rate 7%
$4,737,786
$4.7M
Cap Rate 9%
$3,684,944
$3.7M
Market Conditions
NOI Build-Up for 10,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$634.7K $59.88/SF
− Vacancy
−$31.7K −$2.99/SF
EGI
$603.0K $56.89/SF
− OpEx
−$271.3K −$25.60/SF
NOI
$331.6K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,632,900
Cap Rate 7%
$4,737,786
Cap Rate 9%
$3,684,944
Alternative Uses
Best Use
Apartment 5plus
$4.74M
$4.15M – $5.53M
NOI $331,645 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$26.38M
$23.09M – $30.78M
NOI $1,846,944 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
30,870
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Multi-unit residential building at 117 Mott Street in Manhattan’s Chinatown/Lower East Side with flexible apartment layout possibilities.
Where is this residential income property located?
The property is located at 117 Mott Street New York Ny, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Multi‑unit building at 117 Mott Street in Manhattan’s Chinatown/Lower East Side; Finished basement (basement level finished; basement present); 5 total stories
