202 Hester Street
Mixed Use | 5,933 SF
Marketing description
202 Hester Street is a five-story mixed-use property located in the bustling SoHo neighborhood of Manhattan, offering 5,933 square feet of space. Built in 1910, this walk-up building includes 8 residential units and a ground-floor retail unit. The residential units are all two-bedroom, one-bathroom apartments. Yielding a 4.29% cap rate at the asking price of $5,500,000. Situated on a 1,317-square-foot lot with zoning (M1-5/R10, SNX), the property also boasts 7,234 square feet of available air rights, offering future development potential. Positioned between Centre Street and Baxter Street, this property benefits from heavy foot traffic, upscale retail demand, and a thriving cultural environment.
Investment highlights
Investment Highlights:
Prime SoHo Location
Situated in one of Manhattan's most prestigious neighborhoods, 202 Hester Street is surrounded by high-end retailers, dining establishments, and cultural attractions, ensuring consistent tenant demand.Attractive Price Per Square Foot
Priced at $927 per square foot, the property offers an excellent opportunity in a highly competitive market with limited inventory.Zoning Flexibility and Air Rights
Zoned M1-5/R10, SNX, the property is ideal for future redevelopment, including mixed-use or residential projects, leveraging the 7,234 available square feet of air rights.Historic and Well-Maintained Building
Built in 1910, this classic walk-up apartment building combines timeless architectural appeal with modern rental demand, requiring minimal capital improvements.Long-Term Retail Lease
The retail tenant provides stable income with a lease term through 2029, ensuring consistent cash flow for the foreseeable future.Strong Residential Market
SoHo’s desirability as a residential area ensures high occupancy and strong rental income, supported by the vibrant lifestyle and proximity to public transportation.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
