355 Grand StNew York, NY 10002

Property Details for 355 Grand St

Year built

2019

Lot size

0.03 AC

Property size (Sq ft)

6,935 SF

Zone code

C6-2

Property type

Investment properties

Property subtype

Live-work space

APN

00310-0020

APU

3100020

Description

This exceptional 1,200 square foot office space is located on the second floor of a stunning, newly constructed (2019) six-story building at 355 Grand Street, situated on a prime corner lot at the intersection of Grand and Essex Streets in New York City's Lower East Side, within the Chinatown submarket cluster. The building boasts a total of 6,935 square feet, a 6.5 FAR, and features a modern elevator. This Class A space offers a single-tenant occupancy within a building that also includes residential units. The property sits on a 1,151 square foot lot and benefits from approximately 75 feet of wraparound frontage, providing excellent visibility. The vibrant neighborhood is home to a diverse range of businesses and amenities, including Cafè Katja, Las Lap, Skin Contact, Casa Mezcal, and Roasting Plant Coffee, ensuring a bustling and convenient location. The C6-2, 12c zoning designation offers flexibility for various commercial uses. This space presents a unique opportunity to establish a presence in a rapidly developing and highly sought-after area of Manhattan. The building's modern design and prime location make it an ideal choice for businesses seeking a sophisticated and accessible workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $1,146,563

  6.5%

  $1,058,366

  7%

  $982,768

• Comparable approach

  Method

  Valuation

  Relative Method

  $906,127

  Geo Method

  $906,127

• Alternative Use

  Use

  Valuation

  Residential

  $1,312,373

  Hospitality

  $1,202,127

  Educational

  $1,000,155

  Medical

  $1,034,552

  Retail

  $1,555,797

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7166

Longitude

-73.9894

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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