APP Real Estate
For sale

📍 50 Delancey ST, Nova Iorque, New York, USA

Commercial Building for Sale in Manhattan – New York – USA

$22,000,000

Overview
  • Size: 1547.49 m²
  • Price: $22,000,000
Description

Prime investment opportunity in the heart of Manhattan's Lower East Side! This is a 3-story pre-war walk-up building with 17 units and approximately 1,547 m² of rentable space on a 465 m² lot. Classified as "Predominant Retail with Other Uses (K4)", the property offers street-level commercial spaces combined with residential units above, creating a diversified income stream. Built in 1910, this well-maintained building retains its classic pre-war character while offering long-term value potential.

Ideal for investors seeking stable cash flow in a highly walkable neighborhood accessible by public transportation, with proximity to several subway lines and the vibrant amenities of the Lower East Side. Recent permit history indicates ongoing maintenance and updates, supporting continued tenant satisfaction and operational stability.

With a prime location, solid structural condition, and multi-use potential, this property represents a rare chance to own a versatile Manhattan investment with value potential in both retail and residential sectors.

Certainly! Here is the complete report in plain text format, optimized for you to copy and paste, maintaining all data and technical analysis:

INVESTMENT EVALUATION REPORT: 50 DELANCEY ST, MANHATTAN

1. PROPERTY OVERVIEW

The property located at 50 Delancey St, New York, NY 10002, in the Lower East Side neighborhood, is a mixed-use building (K4 classification) built in 1910. It has a total area of approximately 1,547 square meters (16,657 square feet) distributed across 17 units, consisting of 4 commercial spaces on the ground floor and 13 residential units on the upper floors. The current sale price is 22 million dollars, which results in a cost of approximately 1,320 dollars per square foot.

2. ESTIMATED FINANCIAL ANALYSIS

Based on market data for the Lower East Side, the potential annual gross income is estimated at 1,272,000 dollars. Considering a conservative operating expense rate of 35% (including estimated property tax of 162,742 dollars), annual expenses total about 445,200 dollars. This results in a Net Operating Income (NOI) of 826,800 dollars per year. The immediate return on investment, known as the Cap Rate, is approximately 3.76%.

3. INVESTMENT STRENGTHS

The location is the greatest differentiator, with a maximum walkability score (Walk Score 100/100) and strategic proximity to several subway lines. The mixed-use nature of the building offers important income diversification, protecting the investor against crises in specific sectors. Furthermore, this is a pre-war building in Manhattan, in an area where the supply of new land is practically non-existent.

4. RISKS AND CRITICAL CONSIDERATIONS

The main challenge is the immediate return (Cap Rate) of 3.76%, which is below the market average for Manhattan (generally between 4.5% and 5.5%). This suggests that the price of 22 million dollars already anticipates future appreciation. Another point of attention is the maintenance costs of a 1910 building and the need for compliance with strict New York environmental laws. It is essential to verify if the residential units are under Rent Stabilization laws, which could limit future revenue increases.

5. VERDICT AND RECOMMENDATIONS

This is a capital preservation and equity appreciation asset. For an investor focused on immediate cash flow, the current price may be considered high. It is recommended to perform a detailed audit of the Rent Roll and attempt to negotiate the value to something closer to 19 million dollars, which would raise the return to more competitive market levels. If the goal is to hold the property for decades, the location ensures it will remain a highly resilient "trophy" asset.

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