Chinatown Commercial Condo
2 Allen Street 2 New York, NY 10002
For Sale
Contact for pricing
Commercial condo in Chinatown, suitable for investors or end-users.
Property Size5,000 SF
Price / SF$600
Days on Market830
Property Features for 2 Allen Street 2
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Office, Retail, Special Purpose
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Ronald Chui · License #10401361912
Source:
Crexi
Added: Apr 17, 2024
Changed: Jul 6
Last Checked: Jul 24 at 4:49PM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This commercial condo is located in Chinatown, New York City. Situated on the 2nd floor of an elevator building constructed in 2011, this corner property features floor-to-ceiling windows overlooking Allen Street. The property offers approximately 5000 square feet of space. Previously used as an Adult Day Care center, this condo is suitable for investors or end users seeking a large office space.
Key Highlights
- Large 5000 sqft commercial condo suitable for office space or investment.
- Prime location in the heart of Chinatown, New York City.
- Corner property with floor‑to‑ceiling windows overlooking Allen St.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $257.4k | $51.48 |
| − Vacancy | −$43.8k | −$8.75 |
| EGI | $213.6k | $42.73 |
| − OpEx | −$53.4k | −$10.68 |
| NOI | $160.2k | $32.05 |
5,000 SF · lease $51.48/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,231 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.45M
$10.89M – $14.52M
NOI $871,200 @ 7.0% cap · market cap 29.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lan's Services
Travel Agency
Allen Street Pharmacy
Pharmacy
Dr. Min Song, ...
Physician
JAN Renovation
General Contractor
今第建ç‘设计
Architecture Firm
FAQs
What type of property is this?
Office units - Commercial condo in Chinatown, suitable for investors or end-users.
Where is this office units located?
The property is located at 2 Allen Street 2 New York, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Large 5000 sqft commercial condo suitable for office space or investment.; Prime location in the heart of Chinatown, New York City.; **Corner property with floor‑to‑ceiling windows overlooking Allen St.**
