279 Church Street — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: New York, NY 10013

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Investment Figures

Cap rate
5.90%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus and Millichap is pleased to exclusively offer for sale 279 Church Street, which is ideally located in the Tribeca neighborhood. Located on the East side of Church Street between Franklin Street and White Street, this 6-unit property is comprised of approximately 8,971 square feet with 25' of frontage. This property sits on a 25' x 75' lot (Block: 175 Lot: 16) and is built 25' x 70'. The property is zoned C6-2A/R8A equivalent. There are 2,280 square feet of additional air-rights. This opportunity presents any potential purchaser with immediate cash-flow day one. The building benefits from achieving strong above-grade commercial rents that rival the price per square foot of residential use units in the area. The commercial units are all commanding $60/SF or higher, while the free market residential unit is achieving $70/SF. Located in the heart of Tribeca, 279 Church Street sits at the intersection of one of Downtown Manhattan's most coveted and high-demand rental markets. The building is positioned directly across the street from the Roxy Hotel, placing tenants steps from the neighborhood's celebrated dining, wine bars, and boutique retail scene. Investment Highlights: • 279 Church Street is a 6-unit, mixed-use walk-up building totaling approximately 8,971 square feet with 25 feet of frontage on Church Street. • Tax Class: 4 | Zoning: C6-2A | Projected Taxes: $88,709 • The property is well-served by transit within walking distance, including the 1, 2, 3, A, C, E, J, Z, N, Q, R, W and 6 subway lines, along with the M20 and M22 bus routes.

Market Context

This mixed use in New York, NY is listed for sale. It is offered at an approximate 5.9% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in New York, NY — view the full market.

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