Chinatown/Little Italy Commercial
53 Elizabeth Street 1C New York, NY 10013
Versatile commercial space in prime Downtown Manhattan location.
Type:Office, Retail
Property size:
2,310 SFPrice / SF:
$414/SF- Added:
- May 12, 2026
- Days on Market:
- 61
- Last Refresh:
- Jul 2 at 8:49 am
Property Features for 53 Elizabeth Street 1C
General Information
- Standard status
- Active
- Size
- 2,310 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 2013
Listing office B Square Realty
Listing date May 12, 2026
Source Crexi
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 B Square Realty
Investment Insights
Based on property information with market context.
This ground-floor commercial condominium, complete with additional cellar space, is situated in the vibrant Chinatown/Little Italy corridor. The vacant and fully finished unit provides approximately 1,199 SF on the ground floor, complemented by an approximately 1,111 SF cellar featuring a 9-foot ceiling height, totaling approximately 2,310 SF of usable space. The ground floor is suitable for retail or office use, offering flexibility for various business types, while the cellar provides valuable storage or extra office space. Equipped with its own central HVAC system for heating and air conditioning, the unit features a finished interior ready for immediate occupancy. The new owner has the opportunity to advertise on the side wall next to the interior entrance and place signage on the top space of the building's main entrance for extra exposure. The elevator provides keyed entrances on its ground floor, as well as the cellar floor. Located in a heavily trafficked neighborhood, the property benefits from exceptional accessibility and a strong surrounding retail and office presence. It is surrounded by restaurants, cafés, shopping, and neighborhood services, with convenient access to multiple subway lines including B, D, J, N, Q, R, Z, 6, and W trains, offering outstanding walkability and transit connectivity. This is a compelling opportunity for owner-users or investors seeking a versatile commercial space with low real estate taxes in a prime Downtown Manhattan location.
Key Highlights
- Prime Downtown Manhattan location in the heart of Chinatown/Little Italy, offering high foot traffic and exceptional accessibility.
- Approximately 2,310 SF of usable space: 1,199 SF ground floor suitable for retail or office, plus 1,111 SF cellar.
- Vacant and fully finished interior, ready for immediate occupancy, minimizing renovation costs.
Local 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 | $118.9k | $51.48 |
| − Vacancy | −$22.5k | −$9.73 |
| EGI | $96.4k | $41.75 |
| − OpEx | −$24.1k | −$10.44 |
| NOI | $72.3k | $31.31 |
2,310 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Retail
$4.64M
$4.06M – $5.42M
NOI $325,074 @ 7.0% cap · market cap 33.93%
Second Best
Office B
$1.03M
$904.2K – $1.21M
NOI $72,332 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$5.75M
$5.03M – $6.71M
NOI $402,494 @ 7.0% cap · market cap 42.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
YBL Wellness Management ...
Physician
Jane Yang Dental, ...
Dental Office
Artificial Turf Factory ...
Big Box & Wholesale Store
Dr. Victoria W. ...
Physician
Lori Liu
Dental Office
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FAQs
What type of property is this?
Retail space - Versatile commercial space in prime Downtown Manhattan location.
Where is this retail space located?
The property is located at 53 Elizabeth Street 1C New York, NY.
What is the asking price?
The asking price for this property is $958,000.
What are key features of this property?
This property features: Prime Downtown Manhattan location in the heart of Chinatown/Little Italy, offering high foot traffic and exceptional accessibility.; Approximately 2,310 SF of usable space: **1,199 SF ground floor suitable for retail or office**, plus 1,111 SF cellar.; **Vacant and fully finished interior, ready for immediate occupancy**, minimizing renovation costs.
