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41-43 Mercer Street,New York, NY 41 Mercer St 9,755 SF Retail Building New York, NY 10013 $33,200,000 ($3,403.38/SF)
Investment Highlights
- Situated in the heart of SoHo, surrounded by luxury shopping, renowned art galleries, and popular restaurants.
- Property has a significant sales history, reflecting its value in a sought-after Manhattan market.
- Convenient transit-oriented location with multiple subway lines and bus routes.
- Architectural character typical of SoHo’s historic cast-iron district, offering adaptive reuse potential for residential, retail, or office purposes.
Executive Summary
BKREA has been retained on an exclusive basis to arrange the sale of 41-43 Mercer Street (the "Site"), a rare development opportunity located in the heart of SoHo. Situated on the west side of Mercer Street between Broome and Grand Streets, the Site offers approximately 49 feet of frontage on one of SoHo's most coveted cobblestone blocks.
The site contains two buildings: a one story structure at 41 Mercer Street and a four-story storehouse at 43 Mercer Street. The proposed plans submitted to the Landmarks Preservation Commission call for the demolition of the one-story building at 41 Mercer Street and its replacement with a new six-story cast iron building. The two buildings will then be merged through the removal of the shared party wall, with rooftop and rear yard additions to 43 Mercer Street. The upper floors of 43 Mercer Street are planned for conversion to residential use.
The site contains two buildings: a one story structure at 41 Mercer Street and a four-story storehouse at 43 Mercer Street. The proposed plans submitted to the Landmarks Preservation Commission call for the demolition of the one-story building at 41 Mercer Street and its replacement with a new six-story cast iron building. The two buildings will then be merged through the removal of the shared party wall, with rooftop and rear yard additions to 43 Mercer Street. The upper floors of 43 Mercer Street are planned for conversion to residential use.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,755 SF
Building Class
C
Year Built
1900
Price
$33,200,000
Price Per SF
$3,403.38
Tenancy
Single
Building Height
4 Stories
Building FAR
4.00
Lot Size
0.06 AC
Zoning
M1-5B - Light industrial with offices, hotels, and most retail uses permitted
Frontage
20’ on Mercer St
Amenities
- Bus Line
- Metro/Subway
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0474-0019 | Improvements Assessment | $2,472,465 |
| Land Assessment | $237,483 | Total Assessment | $2,709,948 |
Property Taxes
Parcel Number
0474-0019
Land Assessment
$237,483
Improvements Assessment
$2,472,465
Total Assessment
$2,709,948
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