198 Grand Street
Manhattan Mixed-Use Opportunity
Marketing description
Lin Pan Realty proudly presents a rareinvestment opportunity, to acquire a modern elevated mixed-use building located at 198 Grand Street, New York, NY 10013. This asset offers strong in-placeretail income and exceptionalupside potential with 4 residential units fully delivered vacant.
THE OPPORTUNITY
Prime Location
Located in a highly accessible and vibrant center of Chinatown & Little Italy, the property offers exceptional visibility and great foot traffic from local residents and tourists. Its central positioning drives strong tenant demand and long-term value growth within a thriving Chinatown submarket.
Strong Commercial
The Ground Floor retails has gained great popularity in the neighborhood, generating $28,000 per month ($336,000 annually) with approximately 4 years remaining on the lease.
Modern Building
Built in 2006, the property offers a duplex residence with private garden, a three-bedroom apartment, and two tow-bedroom units. The building also offers a rooftop garden and key-card levator access.
Investment Opportunity
Great upside for the vacant residential units and further potential to convert to condo units. Combining stable retail and strategic zoning, thisproperty presents an ideal balance of immediate yield and long-term upside.
Investment highlights
Prime mixed-use building located in the heart of Chinatown. Approx. 12,373 SF (all measurements are approximate), featuring elevator access, rooftop garden, and multiple outdoor spaces. Retail income approximately $28,000/month. Residential units include rent-stabilized tenants, with 4 vacant units currently not generating income. Units are subject to rent stabilization regulations (including restrictions through 03/15/2029). Potential value-add opportunity through lease-up of vacant units and long-term repositioning. Property to be sold as-is. All information deemed reliable but not guaranteed. Buyer to verify all information.
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