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    119 Mott St New York, NY 10013

    Sponsored
    For Sale
    $9,000,000

    Chinatown gem: 12 units, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A mixed-use building, located at 119 Mott Street in New York City's vibrant Chinatown and Little Italy, presents a compelling value-add investment opportunity. The property boasts a prime corner location, offering unparalleled visibility and accessibility. The 17,500 square foot building comprises two structures, five stories each, built in 1938 and renovated in 1988, sitting on a 2,500 square foot lot. Currently housing 12 units, including a ground-floor restaurant with a full basement and a 4 AM liquor license, the property offers significant upside potential. The restaurant, a long-standing establishment, generates a monthly income of $20,000. The residential units are a mix of free-market, rent-controlled, and rent-stabilized units. The building also benefits from 5,200 square feet of available air rights, allowing for future expansion. With eleven tenants under one-year leases, the property offers a strong foundation for immediate income generation and long-term growth. Its central location provides easy access to public transportation and proximity to affluent neighborhoods like NoLIta, SoHo, Tribeca, and the Lower East Side, ensuring consistent high demand. The asking price is $9,000,000. This is a rare chance to acquire a well-positioned, income-producing asset in one of Manhattan's most dynamic and sought-after locations.

    Property Features for 119 Mott St

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built/Renovated
    1938/1988
    Buildings
    2
    Stories
    5
    Units
    12

    HighLights

    • High‑traffic location in Chinatown & Little Italy tourist area.
    • Prime downtown location with excellent transit access.
    • Surrounded by affluent neighborhoods including NoLIta, SoHo, Tribeca, and the Lower East Side.
    • Available with air rights; restaurant space with a qualified tenant paying $20,000/month or vacant.
    • Residential tenant information available upon request.
    Property Profile Location Intelligence

    Current Use by Public Records

    Original Vincent's Bar

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.99736161
    Latitude
    40.71781307

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    FAQs

    What type of property is this?
    Multifamily property - Chinatown gem: 12 units, high potential.
    Where is this multifamily property located?
    The property is located at 119 Mott St New York, NY.
    What is the asking price?
    The asking price for this property is $9,000,000.
    What are key features of this property?
    This property features: High-traffic location in Chinatown & Little Italy tourist area.; Prime downtown location with excellent transit access.; Surrounded by affluent neighborhoods including NoLIta, SoHo, Tribeca, and the Lower East Side.
    Request Owner's contact information
    119 Mott St New York, NY 10013
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    119 Mott St New York, NY 10013
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