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Status: Active

232 MULBERRY Street, #

SoHo-TriBeCa-Civic Center-Little Italy

$9,995,000
 |  17 Beds  |  17 Baths  |  9,377SF

Description

232 Mulberry Street Nolita Mixed-Use with Air Rights & Long-Term Upside

Located in the heart of Nolita, 232 Mulberry Street presents a rare opportunity to acquire a rent-stabilized mixed-use building with built-in cash flow, underutilized air rights, and significant long-term upside.

This four-story walk-up totals approximately 9,367 square feet and is comprised of ground-floor retail and multiple rent-stabilized residential units above. The building is currently built to a 3.80 FAR, with a maximum allowable residential FAR of 6.02 and commercial FAR of 6.0, offering approximately 5,472 square feet of unused development rights (total max FAR: 14,839 SF).

Protected by its Tax Class 2A status, the property offers stable operating expenses and is ideally suited for investors seeking a generational asset in a high-demand, low-turnover neighborhood. While rent-stabilized, the property benefits from predictable income and long-term potential through capital improvements, strategic unit turnover, and future redevelopment.

Positioned between Prince and Spring Streets, 232 Mulberry sits in one of downtown Manhattan's most dynamic and supply-constrained neighborhoods-surrounded by luxury condos, designer boutiques,

Investment Highlights:

Boiler rebuilt in 2023

Mixed-use building with rent-stabilized residential units

9,367 SF built 14,839 SF max FAR

5,472 SF of unused air rights

Zoned C6-2 Tax Class 2A

Long-term hold with low operating expenses

Prime Nolita location near SoHo and NoHo

Strong foot traffic and neighborhood demand

Contact us today for Offering Memorandum

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Property Details

  • Commercial

Amenities

  • Building: Green Building
  • Interior: Smoke Free
  • Exterior: Private Outdoor Space Under60 Sqft
  • Patio: None
  • Attendance: None
  • View: Other
  • Laundry: Building Other
  • Pets: Building Yes, No
  • Basement: Other

The Neighborhood

SoHo-TriBeCa-Civic
Center-Little
SoHo-TriBeCa-Civic Center-Little Italy

SoHo-TriBeCa-Civic Center-Little Italy Guide ›
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For information on 232 MULBERRY Street, # contact:

realtor top real estate agent

Matthew Eller

Licensed Associate Broker

(231) 234-2134

Licensed Associate Broker
meller@brickandmortar.com
(231) 234-2134

Listing courtesy of Douglas Elliman Real Estate
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