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  • $9,995,000

    232 Mulberry St FRONT 1, New York, NY 10012

    17beds
    9,367sqft
    Building
    Built in 1901
    -- sqft lot
    $-- Zestimate®
    $1,067/sqft
    $-- HOA

    What's special

    Four-story walk-upRent-stabilized residential units
    232 Mulberry Street | RARE 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, and award-winning dining. Investment Highlights: 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
    50 days
    on Zillow
    |
    973
    |
    18
    |

    Zillow last checked: 7 hours ago

    Listing updated: July 18, 2025 at 02:24pm

    Listing by:

    Douglas Elliman 973-931-1816,

    Wilfredo Rivera

    Source: StreetEasy,MLS#: S1775620
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 232 Mulberry St FRONT 1.

    Next available tour time:Tomorrow at 11am

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 17
    • Bathrooms: 17
    • Full bathrooms: 17
    Interior area
    • Total structure area: 9,367
    • Total interior livable area: 9,367 sqft

    Property

    Details
    • Special conditions: Sponsor Unit

    Construction

    Type & style
    • Home type: SingleFamily
    • Property subtype: Building
    Condition
    • Year built: 1901

    Community & HOA

    Community
    • Subdivision: Nolita
    Location
    • Region: New York

    Financial & listing details

    • Price per square foot: $1,067/sqft
    • Annual tax amount: $100,188
    • Date on market: 6/14/2025
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