257-259 Canal Street

Development Site Advisors® has been exclusively retained by ownership to sell 257 - 259 Canal Street, located in the bustling SoHo neighborhood. The property is zoned under M1-5/R10 and falls within the Special SoHo/NoHo Mixed Use District, allowing for a development potential of up to 12.00 FAR or ±47,868 ZFA as-of-right. Additionally, the property is situated in Opportunity Area 2, permitting a maximum height of 275 feet.
The property, which has been under the same ownership for 87 years, currently features a 2-story commercial building with a frontage of 51.17 feet and a total lot size of approximately ±3,989 square feet. The gross square footage of the building is 8,070 square feet with a gross income of $571,971 and net operating income of $375,882. This represents a significant development opportunity in one of New York City’s most vibrant neighborhoods.

Location Description	Northerly of Canal Street between Lafayette Street and Broadway
Borough/Block/Lot	Manhattan / 209 / 26
Neighborhood	Soho
Lot Size	4,026 SF
Existing SF	7,558 SF
Building Class	K4
R.E. Taxes	$152,919.00

Subway Access

46JZNQRW

Bus Lines

null

Community District 2

Zoning District

M1-5/R10

Special District

Residential FAR | ZFA

12.00

|

48,312

Commercial FAR | ZFA

5.00

|

20,130

Facility FAR | ZFA

6.50

|

26,169