41 Elizabeth StNew York, NY 10013

For Sale
$26,800,000

Exceptional 56,000 SF office building, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
97
This remarkable seven-story, 56,080 square foot office building at 41 Elizabeth Street presents a unique investment opportunity in the heart of Lower Manhattan. Currently 85% occupied, this Class B property offers significant upside potential through redevelopment and lease-up. Built in 1920, the building boasts 7,200 square foot floor plates and a desirable multi-tenant occupancy with a modified lease structure. The property sits on a 7,053 square foot lot and is zoned C6-1G / C6-2G LI, allowing for diverse uses. Its prime location in Lower Manhattan places it within easy reach of Chinatown, Little Italy, SoHo, Tribeca, and the Lower East Side. The building's history includes over 70 years of ownership by the same family, ensuring meticulous care and a strong foundation for future growth. The asking price is $26,800,000, translating to $477.89 per square foot. This value-add, redevelopment opportunity offers substantial returns for the discerning investor seeking a multi-generational asset with significant user and conversion potential. The property's existing cash flow provides a solid base for future expansion and enhancement. This is a rare chance to acquire a well-maintained, historically significant building in one of New York City's most vibrant and sought-after neighborhoods.

Highlights

  • 56,000 square feet of combined office and retail space.
  • 70% occupancy with existing cash flow.
  • 70+ years of single family ownership.
  • Significant value-add potential through renovations and lease-up.
  • 7,200 square foot floor plates.
  • Excellent adaptive reuse and conversion opportunities.

Property Details for 41 Elizabeth St

Property type
Other office properties, Medical offices
Square Feet
56,080 SF
Class
B
Year Built
1920
Buildings
1
Stories
7

Location Insight

City
New York
County
New York
State
New York
Latitude
40.71699946859
Longitude
-73.996716089084
41 Elizabeth St, New York, New York

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
41 Elizabeth St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message