See all 13 photos
13 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listing Courtesy of Douglas Elliman Real Estate
$9,995,000
Est. payment /mo
17 Beds
17 Baths
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Nolita
MLS Listing ID RLS20031107
Bedrooms 17
HOA Y/N No
Year Built 1901
Annual Tax Amount $100,176
Property Sub-Type Mixed Use
Property Description
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
Location
State NY
County New York
Rooms
Basement Other
Interior
Interior Features Smoke Free
Fireplace No
Laundry Building Other
Exterior
Exterior Feature Private Outdoor Space Under 60 Sqft
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Mixed Use
Story 5
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $8, 348
Special Listing Condition Standard
Pets Allowed Building Yes, No
Read Less Info
RLS Data display by Anthony T Crews Real Estate Llc
Get More Information
Quick Search