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… Read More 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, and award-winning dining. 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 Read Less
Listing Courtesy of: Wilfredo Rivera, Douglas Elliman Real Estate
Listing Snapshot
Days Online
93
Last Updated
Property Type
MixedUse
Beds
17
Full Baths
17
Square Ft.
2,100
Lot Size
0.06 Acres
Year Built
1901
MLS Number
RLS20031107
30 Days Snapshot Of 10012
$4.53M
+43%
(avg) sold price
8
-38%
homes sold
103
-50%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Entry Level: 1, Features: GreenBuilding, Living Area Units: SquareFeet, Rooms Total: 17, Structure Type: MixedUse
Information herein is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by Coldwell Banker Warburg. If you have any questions regarding the accuracy of this data, please contact us at [email protected]. Data updated:
Confirm your time
Fill in your details and we will contact you to confirm a time.