26 BoweryNew York, NY 10013

Property Details for 26 Bowery

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

11,565 SF

Zone code

C6-1

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

00163-0035

APU

1630035

Description

This bankruptcy sale presents a unique opportunity to acquire a mixed-use property at 26 Bowery in Manhattan's vibrant Chinatown. The 13,727 square foot, five-story walk-up building boasts a prominent 23-foot frontage on Bowery Street, a location experiencing high foot traffic and approximately 18,000 vehicles daily. The property, built in 1920, is currently vacant and zoned C6-1, presenting significant potential for substantial rehabilitation. The building comprises three floors of retail/commercial space (formerly occupied by a McDonald's), spanning the basement, ground floor, and second floor. Residential units occupy the third through fifth floors, totaling five units. This prime location offers excellent public transportation access, with nearby B, D, 4, 6, J, and Z subway lines. The lot size is 2,342 square feet, and available air rights total 2,487 square feet. The asking price is $3,750,000, with a price per square foot of $273.18. The auction is scheduled for October 31, 2024, at 2:30 PM Eastern Time, with a bid deadline of October 30, 2024, at 5:00 PM Eastern Time. The opening bid is $3,750,000, subject to bankruptcy court approval. Don't miss this chance to own a piece of Manhattan's history and capitalize on its future potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,370,930

  6.5%

  $2,188,550

  7%

  $2,032,225

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,342,178

  Geo Method

  $2,342,178

• Alternative Use

  Use

  Valuation

  Residential

  $2,188,550

  Hospitality

  $2,004,700

  Educational

  $1,667,887

  Medical

  $1,725,248

  Retail

  $2,594,491

Location Insight

City

New York

County

New York

State

New York

Latitude

40.715

Longitude

-73.9973

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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