257-259 Canal Street
Manhattan, NY
10013
$12,000,000
- Development Site Advisors® has been exclusively retained by ownership to sell 257 - 259 Canal Street, located in the bustling SoHo neighborhood. The property is zoned under M1-5/R10 and falls within the Special SoHo/NoHo Mixed Use District, allowing for a development potential of up to 12.00 FAR or ±47,868 ZFA as-of-right. Additionally, the property is situated in Opportunity Area 2, permitting a maximum height of 275 feet.
- The property, which has been under the same ownership for 87 years, currently features a 2-story commercial building with a frontage of 51.17 feet and a total lot size of approximately ±3,989 square feet. The gross square footage of the building is 8,070 square feet with a gross income of $571,971 and net operating income of $375,882. This represents a significant development opportunity in one of New York City’s most vibrant neighborhoods.
Zoning District
M1-5/R10
Special District
Residential FAR | ZFA
12.00
|48,312
Commercial FAR | ZFA
5.00
|20,130
Facility FAR | ZFA
6.50
|26,169