Finished Office Unit with
53 Elizabeth Street New York, Manhattan, NY 10013
For Sale
$899,000
Commercial Sale, New York (Manhattan), NY
Property Size2,310 SF
Lot Size0.11 Acres
Price / SF$389.18
Days on Market187
Property Features for 53 Elizabeth Street New York
General Information
Property type
Property subtype
Rooms
Basement
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
central HVAC
signage opportunity
Building Details
Year built
Floors in Building
Building materials
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: May 8
Changed: Oct 9
Last Checked: Nov 10 at 1:06AM
MLS# 997823
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 vacant commercial condominium combines a finished ground-floor unit with a substantial cellar, creating a flexible configuration for office or retail occupancy. The ground level contains approximately 1,199 SF, while the cellar adds approximately 1,111 SF with 9-foot ceilings, for approximately 2,310 SF of usable space. A central HVAC system provides both heating and air conditioning, and the elevator has keyed access to the ground and cellar floors. The building was constructed in 2013 and includes brick construction, public water, and public sewer.
The property is located at 53 Elizabeth Street in Manhattan’s Chinatown/Little Italy corridor, surrounded by restaurants, cafes, shopping, offices, and neighborhood services. Access to the B, D, J, N, Q, R, Z, 6, and W subway lines supports transit connectivity. The unit also offers potential wall and entrance signage locations for the owner’s business.
The property is located at 53 Elizabeth Street in Manhattan’s Chinatown/Little Italy corridor, surrounded by restaurants, cafes, shopping, offices, and neighborhood services. Access to the B, D, J, N, Q, R, Z, 6, and W subway lines supports transit connectivity. The unit also offers potential wall and entrance signage locations for the owner’s business.
Key Highlights
- Approximately 2,310 SF of usable space across approximately 1,199 SF ground floor and approximately 1,111 SF cellar
- Cellar features a 9‑foot ceiling height and can provide storage or additional office area
- Finished vacant condominium suitable for retail or office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,332
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,446,640
$1.4M
Cap Rate 7%
$1,033,314
$1.0M
Cap Rate 9%
$803,689
$803.7K
Market Conditions
NOI Build-Up for 2,310 SF
Gross rent
$118.9K $51.48/SF
− Vacancy
−$22.5K −$9.73/SF
EGI
$96.4K $41.75/SF
− OpEx
−$24.1K −$10.44/SF
NOI
$72.3K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,446,640
Cap Rate 7%
$1,033,314
Cap Rate 9%
$803,689
Alternative Uses
Best Use
Office B
$1.03M
$904.2K – $1.21M
NOI $72,332 @ 7.0% cap · market cap 8.05%
Second Best
Retail
$607.4K
$531.5K – $708.6K
NOI $42,518 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $113,048 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
30,870
Businesses Nearby
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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
Properties on Market for Office Units in Manhattan
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Vacant commercial condominium with finished interiors, private HVAC, and flexible ground-floor retail or office utility.
Where is this office unit located?
The property is located at 53 Elizabeth Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Approximately 2,310 SF of usable space across approximately 1,199 SF ground floor and approximately 1,111 SF cellar; Cellar features a 9‑foot ceiling height and can provide storage or additional office area; Finished vacant condominium suitable for retail or office use
