210 Canal Street (Unit 403-404), New York, NY 10013
210 CANAL STREET (UNIT 403-404)
Marketing description
The Nowak Group of Marcus & Millichap is pleased to present a rare opportunity to acquire a prime commercial asset at 210 Canal Street, situated at the bustling intersection of Canal and Mulberry Streets. Comprising two adjacent units (403 & 404) with a combined footprint of approximately 1,210 square feet, this offering provides the unique flexibility of a large, unified corner headquarters or distinct professional suites.
Positioned in a landmark 1920s elevator building with doorman services, the property serves as a strategic bridge between three of Manhattan’s most dynamic neighborhoods: Chinatown, Little Italy, and SoHo. Whether for a medical practice, legal firm, or creative agency, this turnkey opportunity offers end-users a prestigious address with exceptionallylow carrying costs and long-term equity preservation.
Investment highlights
THE CORNER ADVANTAGE
Premier Exposure: As a combined North East corner unit, the space features dual exposures overlooking both Canal Street and Mulberry Street. This orientation floods the workspace with natural light and provides unique branding visibility in a high-traffic corridor.
Flexible Layout: Currently configured as two separate tax lots, the space can be seamlessly combined to create a substantial headquarters or kept separate for diverse operational needs.
FINANCIAL EFFICIENCY
Ownership vs. Leasing: With exceptionally low combined common charges and taxes (~$6.43/SF and ~$5.46/SF respectively), owning this asset costs significantly less monthly than comparable market leases.
Strategic Structure: The two-unit configuration allows for a “split-contract” acquisition strategy. By keeping individual transaction amounts below $500,000, a purchaser may be eligible to reduce the NYC Real Property Transfer Tax rate from 2.625% to 1.425% (estimated savings of ~$12,000).
BUILDING HERITAGE & AMENITIES
Professional Identity: A historic 1920s construction that blends pre-war architectural charm with a modernized, professional lobby presence.
Business Services: Features dual elevators and on-site doorman/concierge services, ensuring security, package management, and a professional reception for clients and patients.
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