Office Condo
For Sale
$749,000
2 Allen St 6A, New York, NY 10002
Office condo unit of approximately 736 sq ft available for sale near East Broadway subway.
Property Size736 SF
Days on Market36
Property Features for 2 Allen St 6A
General Information
Standard status
Active
Size
736 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,483
Building Details
Building Size
736 SF
Year Built
2011
Listing Agency:
Chous Realty Group Inc
(917) 270-7082
Listed By:
Rui Feng Jin
(917) 270-7082
Source:
Elliman
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 23 at 11:01AM
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 Chous Realty Group Inc
Investment Insights
Based on property information with market context.
Large office condo unit for sale, identified as 2 Allen St, unit 6A. The space is described as approximately 736 square feet and is positioned as a strong fit for professional uses such as a doctor’s office, dental office, accountant office, or lawyer office.
The property is located at 2 Allen St by the center of Chinatown. Public remarks indicate it is about a 3-minute walk to the East Broadway subway station.
The unit is offered as a condo, making it suitable for an owner-occupant or a buyer seeking a self-contained office space within a larger building.
The property is located at 2 Allen St by the center of Chinatown. Public remarks indicate it is about a 3-minute walk to the East Broadway subway station.
The unit is offered as a condo, making it suitable for an owner-occupant or a buyer seeking a self-contained office space within a larger building.
Key Highlights
- Approximately 736 sq ft office condo unit for sale
- Built in 2011
- Located at 2 Allen St near the center of Chinatown
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
$26,814
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
3.58%
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%
$536,280
$536.3K
Cap Rate 7%
$383,057
$383.1K
Cap Rate 9%
$297,933
$297.9K
Market Conditions
NOI Build-Up for 736 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
$48.6K $66.00/SF
− Vacancy
−$3.9K −$5.28/SF
EGI
$44.7K $60.72/SF
− OpEx
−$17.9K −$24.29/SF
NOI
$26.8K $36.43/SF
Area
ZIP 10002
Vacancy
8.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
40.00%
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%
$536,280
Cap Rate 7%
$383,057
Cap Rate 9%
$297,933
Alternative Uses
Best Use
Healthcare Medical
$383.1K
$335.2K – $446.9K
NOI $26,814 @ 7.0% cap · market cap 3.58%
Second Best
Office B
$336.9K
$294.8K – $393.1K
NOI $23,586 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$1.83M
$1.60M – $2.14M
NOI $128,241 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21,064
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo unit of approximately 736 sq ft available for sale near East Broadway subway.
Where is this office units located?
The property is located at 2 Allen St 6A New York, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Approximately 736 sq ft office condo unit for sale; Built in 2011; Located at 2 Allen St near the center of Chinatown
