7-Story Mixed-Use
For Sale
$11,000,000
91 Baxter Street New York, Manhattan, NY 10013
Seven-story building combines ground-floor retail, residential units, and C6-1 zoning in Manhattan’s Chinatown.
Property Size27,528 SF
Price / SF$2,200
Days on Market184
Property Features for 91 Baxter Street New York
General Information
Standard status
Active
Size
27,528 SF
Property subtype
Commercial
Zoning
C6-1
Additional Details
Floor
1
Multifamily Units
44
Taxes and HOA fees
Annual Taxes
$219,353
Building Details
Building Size
27,528 SF
Year Built
1880
Buildings
2
Stories
7
Units
46
Listing Agency:
Sany Realty Group LLC
(347) 925-9926
Listed By:
Wanping Liu
(347) 925-9926
Source:
Cohenandcohenrealty
Added: Feb 8
Changed: Aug 7
Last Checked: Aug 10 at 11:22AM
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 Sany Realty Group LLC
Investment Insights
Based on property information with market context.
This seven-story mixed-use building was constructed in 1880 and includes 44 residential units along with ground-floor retail space. The commercial area measures 5,000 square feet and may be arranged as two separate stores, providing flexibility for retail occupancy within the existing building configuration.
The property is situated in Chinatown in Manhattan, adjacent to Canal Street and Mott Street. C6-1 zoning supports the property’s mixed-use classification and complements the combination of residential and street-level commercial space.
The property is situated in Chinatown in Manhattan, adjacent to Canal Street and Mott Street. C6-1 zoning supports the property’s mixed-use classification and complements the combination of residential and street-level commercial space.
Key Highlights
- 44 residential units in a 7‑story mixed‑use building
- 5,000 SF of ground‑floor retail space
- Retail area can be divided into 2 stores
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$703,623
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$14,072,460
$14.1M
Cap Rate 7%
$10,051,757
$10.1M
Cap Rate 9%
$7,818,033
$7.8M
Market Conditions
NOI Build-Up for 5,000 SF
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.
Gross rent
$1.18M $235.68/SF
− Vacancy
−$173.2K −$34.64/SF
EGI
$1.01M $201.04/SF
− OpEx
−$301.6K −$60.31/SF
NOI
$703.6K $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$14,072,460
Cap Rate 7%
$10,051,757
Cap Rate 9%
$7,818,033
Alternative Uses
Best Use
Retail
$10.05M
$8.80M – $11.73M
NOI $703,623 @ 7.0% cap · market cap 6.40%
Second Best
Mixed Use
$2.28M
$1.99M – $2.66M
NOI $159,375 @ 7.0% cap · market cap 1.45%
Theoretical Best
Specialty Retail
$12.45M
$10.89M – $14.52M
NOI $871,200 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
44
Residential units
Location Intelligence
Trade Area within ½ mile
36,609
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven-story building combines ground-floor retail, residential units, and C6-1 zoning in Manhattan’s Chinatown.
Where is this mixed-use property located?
The property is located at 91 Baxter Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: 44 residential units in a 7‑story mixed‑use building; 5,000 SF of ground‑floor retail space; Retail area can be divided into 2 stores
