Marcus & Millichap - Tri Borough Multi-Family

91-93 Baxter Street

NY

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Price: $17,000,000
Building Size: 27,528 Square Feet
Property Type: Mixed-use
Exclusive Listing Team:
Matt Fotis
Tel: 212-430-5206
Matthew.Fotis@marcusmillichap.com
Sam Hoefle
Tel: 212-430-6132
Samuel.Hoefle@marcusmillichap.com
Property Status: Active
Description:

Marcus & Millichap is pleased to offer 91-93 Baxter Street located between Walker Street and Bayard Street in the Chinatown section of Manhattan, New York.

The subject property, 91-93 Baxter Street are two contiguous mixed-use buildings on one tax lot that consist of a combined one retail unit and 44 residential apartments. The properties are built a collective 50 feet by 90 feet and sit on a 50.08 foot by 101.5 foot lot with approximately 27,528 gross square feet. The property is zoned C6-1 Block: 199, Lot: 7)

91 Baxter Street is a six-story mixed-use building that consists of one retail unit and 20 apartments. Of the residential units, 12 are rent stabilized, three are SCRIE, two are free market, and three will be delivered vacant.

93 Baxter Street is a seven-story mixed-use building that consists of one retail unit and 24 apartments. Of the residential units, 14 are rent stabilized, four are SCRIE, three are rent controlled, one is free market and two will be delivered vacant.

This property offers investors, users, and developers the rare opportunity to acquire two contiguous mixed-use assets with 50 feet of frontage, a very low average rent and significant rental upside in the Chinatown section of Manhattan, New York.