260 Elizabeth St New York, NY 10012

Property Details for 260 Elizabeth St

Year built

1925

Lot size

0.05 lot acres

Property size

7,804 SF

Zone code

C6-2

Property type

Retail residential properties

APN

00507-0017

APU

5070017

Description

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.

Location Insight

City

New York

County

New York

State

New York

Longitude

-73.9934

Latitude

40.7238

CBSA code

35620

CBSA name

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

Property Tax & Assessments