Mixed-Use Building with Rooftop
For Sale
$7,990,000
198 Grand Street New York, Manhattan, NY 10013
The building combines retail and residential space with elevator service and several outdoor areas.
Property Size12,373 SF
Price / SF$645.76
Days on Market216
Property Features for 198 Grand Street New York
General Information
Standard status
Active
Size
12,373 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Gross Income
$336,000
Mixed-Use Components
retail, residential
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$352,661
Amenities
rooftop garden
multiple outdoor spaces
Building Details
Building Size
12,373 SF
Year Built
2006
Buildings
1
Units
6
Listing Agency:
Lin Pan Realty Group LLC
(516) 693-9888
Listed By:
Lin Lin Kuriyama
(516) 472-8112
Source:
Croninreale
Added: Mar 23
Changed: Oct 23
Last Checked: Oct 23 at 5:03PM
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 Lin Pan Realty Group LLC
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Investment Insights
Based on property information with market context.
At 198 Grand Street in Manhattan’s Chinatown, this 12,373-square-foot mixed-use property dates to 2006. The building includes retail and residential space, elevator access, a rooftop garden, and additional outdoor areas. Four residential units are vacant and not producing income.
Residential units are subject to rent stabilization regulations, with restrictions extending through 03/15/2029. The property is offered as-is.
Residential units are subject to rent stabilization regulations, with restrictions extending through 03/15/2029. The property is offered as-is.
Key Highlights
- 12,373 SF mixed‑use property built in 2006
- Retail and residential components
- Rooftop garden, elevator access, and multiple outdoor areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$394,389
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,887,780
$7.9M
Cap Rate 7%
$5,634,129
$5.6M
Cap Rate 9%
$4,382,100
$4.4M
Market Conditions
NOI Build-Up for 12,373 SF
Gross rent
$742.4K $60.00/SF
− Vacancy
−$111.4K −$9.00/SF
EGI
$631.0K $51.00/SF
− OpEx
−$236.6K −$19.13/SF
NOI
$394.4K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,887,780
Cap Rate 7%
$5,634,129
Cap Rate 9%
$4,382,100
Alternative Uses
Best Use
Retail
$24.87M
$21.76M – $29.02M
NOI $1,741,185 @ 7.0% cap · market cap 21.79%
Second Best
Mixed Use
$5.63M
$4.93M – $6.57M
NOI $394,389 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$30.80M
$26.95M – $35.93M
NOI $2,155,872 @ 7.0% cap · market cap 26.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
33,012
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines retail and residential space with elevator service and several outdoor areas.
Where is this mixed-use property located?
The property is located at 198 Grand Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $7,990,000.
What are key features of this property?
This property features: 12,373 SF mixed‑use property built in 2006; Retail and residential components; Rooftop garden, elevator access, and multiple outdoor areas
