Development Opportunity  
89-105 Canal Street, New York, NY 10002   Web ID 445


Asking Price: $37,500,000
Approximate Sqft: 42,225
NOI: $1,533,862.39
RE Taxes: $174,839
CAP Rate: 4.1%
FAR: 6
Zoning: C6-1G
Lot Size: 200' x 50'
Air Rights: 17,997 sf

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Development Opportunity

City Connection Realty is pleased to represent 89-105 Canal Street, a six building package of commercial properties with 200 feet of frontage along Canal Street on the border of Chinatown and the Lower East Side. There currently exists a total of 42,225 sf in building with another 17,997 sf (approximate) of additional air rights. The buildable square footage for the site is 60,222 sf. There are a total of 28 commercial units. The site lies in a C6-1G zone, conversion to residential use requires a special permit. This unique portfolio can either be held as is or entirely redeveloped as luxury condo, hotel or office building. Rarely does an opportunity arise to own an entire block front of property in Manhattan with such upside.

Min Chan, Esq.

Min Chan, Esq.

Web Id: 445

Office 212-994-3286  
Fax 212-994-3028


All information regarding a property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.

  City Connections Realty, Inc. supports Equal Housing Opportunity. The federal Fair Housing Act makes it illegal to advertise "any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make such preference, limitation or discrimination." We will not knowingly accept or permit any advertisement for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.