Building
| Type: | Apartment |
|---|---|
| Era: | Post-war |
Property
| Ownership: | Unknown |
|---|---|
| Rooms: | 17 |
| Bedrooms: | Studio |
| Pets: | Pets Unknown |
FinancialsPrice:$9,995,000
Description232 Mulberry Street Nolita Mixed-Use with Air Rights & Long-Term Upside
Located in the heart of Nolita, 232 Mulberry Street presents a rare opportunity to acquire a rent-stabilized mixed-use building with built-in cash flow, underutilized air rights, and significant long-term upside.
This four-story walk-up totals approximately 9,367 square feet and is comprised of ground-floor retail and multiple rent-stabilized residential units above. The building is currently built to a 3.80 FAR, with a maximum allowable residential FAR of 6.02 and commercial FAR of 6.0, offering approximately 5,472 square feet of unused development rights (total max FAR: 14,839 SF).
Protected by its Tax Class 2A status, the property offers stable operating expenses and is ideally suited for investors seeking a generational asset in a high-demand, low-turnover neighborhood. While rent-stabilized, the property benefits from predictable income and long-term potential through capital improvements, strategic unit turnover, and future redevelopment.
Positioned between Prince and Spring Streets, 232 Mulberry sits in one of downtown Manhattan's most dynamic and supply-constrained neighborhoods-surrounded by luxury condos, designer boutiques, and award-winning dining.
Investment Highlights:
Boiler rebuilt in 2023
Mixed-use building with rent-stabilized residential units
9,367 SF built 14,839 SF max FAR
5,472 SF of unused air rights
Zoned C6-2 Tax Class 2A
Long-term hold with low operating expenses
Prime Nolita location near SoHo and NoHo
Strong foot traffic and neighborhood demand
Contact us today for Offering Memorandum
Neighborhood
232 Mulberry Street Nolita Mixed-Use with Air Rights & Long-Term Upside
Located in the heart of Nolita, 232 Mulberry Street presents a rare opportunity to acquire a rent-stabilized mixed-use building with built-in cash flow, underutilized air rights, and significant long-term upside.
This four-story walk-up totals approximately 9,367 square feet and is comprised of ground-floor retail and multiple rent-stabilized residential units above. The building is currently built to a 3.80 FAR, with a maximum allowable residential FAR of 6.02 and commercial FAR of 6.0, offering approximately 5,472 square feet of unused development rights (total max FAR: 14,839 SF).
Protected by its Tax Class 2A status, the property offers stable operating expenses and is ideally suited for investors seeking a generational asset in a high-demand, low-turnover neighborhood. While rent-stabilized, the property benefits from predictable income and long-term potential through capital improvements, strategic unit turnover, and future redevelopment.
Positioned between Prince and Spring Streets, 232 Mulberry sits in one of downtown Manhattan's most dynamic and supply-constrained neighborhoods-surrounded by luxury condos, designer boutiques, and award-winning dining.
Investment Highlights:
Boiler rebuilt in 2023
Mixed-use building with rent-stabilized residential units
9,367 SF built 14,839 SF max FAR
5,472 SF of unused air rights
Zoned C6-2 Tax Class 2A
Long-term hold with low operating expenses
Prime Nolita location near SoHo and NoHo
Strong foot traffic and neighborhood demand
Contact us today for Offering Memorandum
232 Mulberry Street Nolita Mixed Use with Air Rights amp ; Long Term Upside Located in the heart of Nolita, 232 Mulberry Street presents a rare opportunity to acquire a ...
Description232 Mulberry Street Nolita Mixed-Use with Air Rights & Long-Term Upside
Located in the heart of Nolita, 232 Mulberry Street presents a rare opportunity to acquire a rent-stabilized mixed-use building with built-in cash flow, underutilized air rights, and significant long-term upside.
This four-story walk-up totals approximately 9,367 square feet and is comprised of ground-floor retail and multiple rent-stabilized residential units above. The building is currently built to a 3.80 FAR, with a maximum allowable residential FAR of 6.02 and commercial FAR of 6.0, offering approximately 5,472 square feet of unused development rights (total max FAR: 14,839 SF).
Protected by its Tax Class 2A status, the property offers stable operating expenses and is ideally suited for investors seeking a generational asset in a high-demand, low-turnover neighborhood. While rent-stabilized, the property benefits from predictable income and long-term potential through capital improvements, strategic unit turnover, and future redevelopment.
Positioned between Prince and Spring Streets, 232 Mulberry sits in one of downtown Manhattan's most dynamic and supply-constrained neighborhoods-surrounded by luxury condos, designer boutiques, and award-winning dining.
Investment Highlights:
Boiler rebuilt in 2023
Mixed-use building with rent-stabilized residential units
9,367 SF built 14,839 SF max FAR
5,472 SF of unused air rights
Zoned C6-2 Tax Class 2A
Long-term hold with low operating expenses
Prime Nolita location near SoHo and NoHo
Strong foot traffic and neighborhood demand
Contact us today for Offering Memorandum
NeighborhoodMore listings:
232 Mulberry Street Nolita Mixed-Use with Air Rights & Long-Term Upside
Located in the heart of Nolita, 232 Mulberry Street presents a rare opportunity to acquire a rent-stabilized mixed-use building with built-in cash flow, underutilized air rights, and significant long-term upside.
This four-story walk-up totals approximately 9,367 square feet and is comprised of ground-floor retail and multiple rent-stabilized residential units above. The building is currently built to a 3.80 FAR, with a maximum allowable residential FAR of 6.02 and commercial FAR of 6.0, offering approximately 5,472 square feet of unused development rights (total max FAR: 14,839 SF).
Protected by its Tax Class 2A status, the property offers stable operating expenses and is ideally suited for investors seeking a generational asset in a high-demand, low-turnover neighborhood. While rent-stabilized, the property benefits from predictable income and long-term potential through capital improvements, strategic unit turnover, and future redevelopment.
Positioned between Prince and Spring Streets, 232 Mulberry sits in one of downtown Manhattan's most dynamic and supply-constrained neighborhoods-surrounded by luxury condos, designer boutiques, and award-winning dining.
Investment Highlights:
Boiler rebuilt in 2023
Mixed-use building with rent-stabilized residential units
9,367 SF built 14,839 SF max FAR
5,472 SF of unused air rights
Zoned C6-2 Tax Class 2A
Long-term hold with low operating expenses
Prime Nolita location near SoHo and NoHo
Strong foot traffic and neighborhood demand
Contact us today for Offering Memorandum
RLS Data display by Nest Seekers LLC.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
