391 Canal Street

BKREA has been exclusively retained to arrange the sale of 391 Canal Street, an exceptional development opportunity in the highly coveted SoHo neighborhood.​

Property Overview

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  Location: North side of Canal Street, between Thompson Street and West Broadway.​

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  Frontage: 21.5 feet along Canal Street.​

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  Lot Size: 1,618 square feet.​

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  Current Structure: A one-story building to be delivered vacant for redevelopment.​

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  Zoning: M1-5/R10, SNX (Special SoHo NoHo Mixed-Use District).​

Development Potential

As-of-right FAR:

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  12.0 FAR for Residential-UAP (Universal Affordability Preference) purposes.​

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  Up to 10.0 FAR allocated for market-rate residential.​

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  Purchasers can acquire offsite UAP certificates (not included in the sale) to maximize market-rate ZFA to 12.0 FAR (20,261 SF).​

Alternative Uses:

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  5.0 FAR for commercial.​

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  5.0 FAR for manufacturing.​

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  6.5 FAR for a community facility.​

Strategic Location & Unmatched Connectivity

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  Highly desirable SoHo-TriBeCa corridor—one of NYC’s most vibrant and luxurious neighborhoods.​

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  Pedestrian-friendly area with wide sidewalks and a dense mix of retail, dining, and cultural attractions.​

Steps from Canal Street station, offering access to A, C, and E trains, ensuring seamless connectivity to Midtown, Brooklyn, and beyond.​

Investment Highlights

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  Rare development opportunity in a premier location.​

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  Flexible zoning allows for residential, retail, commercial, and mixed-use development.​

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  Proximity to top shopping destinations, luxury brands, and cultural institutions.​

With strong demand for residential and retail space in SoHo, 391 Canal Street represents a rare chance to develop in one of NYC’s most sought-after neighborhoods.​

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  Unrivaled Visibility - Canal Street frontage ensures high visibility on a wide street, making it an ideal location for a statement residential development.

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  Vacant Possession - The existing building will be delivered vacant, providing time and cost savings.

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  Boutique Development Potential - The smaller footprint provides a unique opportunity to craft an exclusive, high-end project tailored to discerning buyers or tenants.

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  Advantageous Accessibility - With the Canal Street station just steps away, 391 Canal Street offers unbeatable connectivity, creating efficient travel throughout Manhattan and beyond.

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  Coveted Location - 391 Canal Street is ideally located in the intersection of SoHo and TriBeCa allowing developers to benefit from the unmatched demand for new projects