28 Forsyth St New York, NY 10002

This exceptional mixed-use property at 28 Forsyth Street, located in the vibrant Chinatown neighborhood of New York City, presents a compelling value-add investment opportunity. The six-story building boasts a total net rentable area of 14,442 square feet and sits on a 3,042 square foot lot with 30.42 feet of frontage. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $562,736, yielding a 6.25% capitalization rate. The building comprises 24 units, including 22 apartments (11 free-market and 11 rent-stabilized) and two retail spaces, all currently leased, providing a stable and consistent cash flow. The apartments feature desirable amenities such as soundproof windows, exposed brick, and exposed original beam ceilings, enhancing their appeal to tenants. The building benefits from excellent natural light and air, overlooking Forsyth Plaza and offering stunning views of the Manhattan Bridge Arch and Colonnade. Its prime location at the intersection of Little Italy, the Lower East Side, and Two Bridges provides easy access to multiple subway lines (F, B, D, J, and Z), further enhancing its desirability. The property is zoned C6-1G, offering potential for future development or repositioning. The asking price for this remarkable investment opportunity is $9,000,000.