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    260 Elizabeth St New York, NY 10012

    Sponsored
    For Sale
    Contact for pricing

    Prime Nolita location, 40 units, high ROI.

    Property size:
    39,020 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully leased, five-building portfolio spanning 260-268 Elizabeth Street in the coveted Nolita neighborhood of Manhattan. Comprising a total of 39,020 square feet across five buildings, each five stories high, this property boasts 40 residential units (including 20 regulated units) and 5 commercial retail units. Built in 1925 and renovated in 1986, the buildings sit on a combined lot size of 10,560 square feet and are zoned C6-2, LI, offering significant flexibility for future development. The current annual property taxes total $550,105. The portfolio benefits from a strong existing cash flow due to 100% occupancy, and presents substantial long-term upside potential. With 24,500 square feet of unused floor area ratio (FAR), there is significant opportunity for future expansion or redevelopment. This turnkey asset is ideally situated steps from SoHo and Little Italy, providing easy access to major transportation options and benefiting from Nolita's vibrant retail scene and high foot traffic. The property's prime location, combined with its strong cash flow and development potential, makes it an exceptional investment opportunity in one of Manhattan's most desirable neighborhoods. Detailed financial information is available upon request.

    Property Features for 260 Elizabeth St

    General Information

    Property type
    Multifamily properties
    Square Feet
    39,020 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1925/1986
    Buildings
    5
    Stories
    5
    Units
    40

    HighLights

    • Strong cash flow and long‑term upside potential from a fully leased portfolio.
    • 3.70 FAR as built; 24,500 SF unused FAR.
    • C6‑2, LI zoning allows for flexible future use.
    • Maximum usable floor area: 63,570 SF; 39,020 SF currently used.
    • No landmark restrictions.
    • Fully leased with retail and residential tenants in prime Nolita location.
    Property Profile Location Intelligence

    Current Use by Public Records

    NEIWAI Clothing Store Printfresh Clothing Store &Arabica Coffee Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market 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
    -73.993632838803
    Latitude
    40.724011159773

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    FAQs

    What type of property is this?
    Multifamily property - Prime Nolita location, 40 units, high ROI.
    Where is this multifamily property located?
    The property is located at 260 Elizabeth St New York, NY.
    What are key features of this property?
    This property features: Strong cash flow and long-term upside potential from a fully leased portfolio.; 3.70 FAR as built; 24,500 SF unused FAR.; C6-2, LI zoning allows for flexible future use.
    Request Owner's contact information
    260 Elizabeth St New York, NY 10012
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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
    260 Elizabeth St New York, NY 10012
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