Mixed-Use Building with Approved
205 Henry St New York, NY 10002
205 Henry St, New York, NY, 10002
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For Sale
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Three-story mixed-use building with approved plans for a six-story condo.
Property Size4,874 SF
Price / SF$677.06
Days on Market885
Property Features for 205 Henry St
General Information
- Standard status
- Active
- Size
- 4,874 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 2022
Listing agency
Brown Harris Stevens
(212) 396-8244
Listed by
Kervin Vales · License #109918089
Source
Crexi
Added: Feb 18, 2024 Updated: Jul 10 at 3:41PM Checked: Jul 21 at 10:41AM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This is a 24-foot wide, three-story mixed-use building with approved plans for a six-story, 10-unit condominium mixed-use building. The first floor is designated as community facility space. Floors two through six each contain two one-bedroom apartments. The sixth floor will also feature a mezzanine space. This property presents a development opportunity, as the project is partially complete with the foundation and basement already built. All plans and permits are included with the property. The zoning allows for a building with two floors of commercial space and upper floors for residential use, or the property can be a fully residential building. The site also offers a user opportunity, with the potential for a store or office on the ground floor. The first floor can be converted into parking space due to the property's curb cut. An owner could have their store or office on the ground floor, an office on the second floor, live on the third and fourth floors, and rent out the other two floors. The property size is 4874 square feet.
Key Highlights
- Approved plans for a six‑story, 10‑unit condo mixed‑use building are included.
- The project is half‑complete with the foundation and basement already built, saving time and money.
- All plans and permits are included with the property.
Local Financial Insights For Mixed Use
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 | $292.4k | $60.00 |
| − Vacancy | −$46.8k | −$9.60 |
| EGI | $245.6k | $50.40 |
| − OpEx | −$92.1k | −$18.90 |
| NOI | $153.5k | $31.50 |
4,874 SF · lease $60.00/SF/yr · vacancy 16.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.19M
$1.92M – $2.56M
NOI $153,531 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$2.19M
$1.91M – $2.55M
NOI $152,976 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$12.13M
$10.62M – $14.15M
NOI $849,246 @ 7.0% cap · market cap 25.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
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FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use building with approved plans for a six-story condo.
Where is this mixed-use property located?
The property is located at 205 Henry St New York, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Approved plans for a six‑story, 10‑unit condo mixed‑use building are included.; The project is half‑complete with the foundation and basement already built, saving time and money.; All plans and permits are included with the property.
