Office Condo
For Sale
$749,000
2 Allen Street New York, Manhattan, NY 10002
Commercial Sale, New York (Manhattan), NY
Property Size736 SF
Lot Size0.12 Acres
Price / SF$1,017
Days on Market97
Property Features for 2 Allen Street New York
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Mapquest.com
Standard status
Active
APN
0294-1158
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11483
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2011
Building materials
ICFs (Insulated Concrete Forms)
Listing Agency:
Chous Realty Group Inc
(718) 353-8818
Listed By:
Rui Feng Jin
(917) 270-7082
Added: Jul 15
Changed: Oct 5
Last Checked: Oct 19 at 4:06PM
MLS# 1026604
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This office condominium unit is located in a 2011-built property and includes central air conditioning. Public water and public sewer serve the property. The space is positioned in Manhattan’s Chinatown area at 2 Allen Street, with East Broadway subway station approximately a three-minute walk away. The unit is suited to professional office functions, including medical, dental, accounting, and legal practices, as identified for the property.
Key Highlights
- Office condominium unit at 2 Allen Street
- Approximately a three‑minute walk to East Broadway subway station
- Located in Manhattan’s Chinatown area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,586
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,720
$471.7K
Cap Rate 7%
$336,943
$336.9K
Cap Rate 9%
$262,067
$262.1K
Market Conditions
NOI Build-Up for 736 SF
Gross rent
$37.9K $51.48/SF
− Vacancy
−$6.4K −$8.75/SF
EGI
$31.4K $42.73/SF
− OpEx
−$7.9K −$10.68/SF
NOI
$23.6K $32.05/SF
Area
ZIP 10002
Vacancy
17.00%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,720
Cap Rate 7%
$336,943
Cap Rate 9%
$262,067
Alternative Uses
Best Use
Office B
$336.9K
$294.8K – $393.1K
NOI $23,586 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office unit with central air and access to public water and sewer service.
Where is this office unit located?
The property is located at 2 Allen Street New York Manhattan, 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: Office condominium unit at 2 Allen Street; Approximately a three‑minute walk to East Broadway subway station; Located in Manhattan’s Chinatown area
