341 Grand StNew York, NY 10002

Property Details for 341 Grand St

Year built

1910

Lot size

0.04 AC

Property size (Sq ft)

1,644 SF

Zone code

C6-2

Property type

Retail residential properties

APN

00310-0013

APU

3100013

Description

This vacant, three-story storefront at 341 Grand Street, New York, NY 10002 offers 4,200 square feet of space on a 1,648 square foot lot. Built in 1910, the property boasts 22 feet of Grand Street frontage and 75 feet of Ludlow Street frontage. Currently configured as ground floor retail (~1,600 SF) and two floors of office space (~1,000 SF and ~1,600 SF respectively), it presents significant redevelopment potential. With 5,271 square feet of air rights, the property allows for approximately 10,000 buildable square feet. Located in the heart of the Lower East Side, this C6-2 zoned property benefits from high foot traffic and proximity to multiple subway lines (Delancey-Essex Street & Grand Street stations). The asking price is $4,499,000 ($1,071.19/SF). Multiple investment strategies are viable, including mixed-use rental conversion, boutique condominium development, or a flagship retail space. This corner lot presents a unique opportunity to capitalize on the Lower East Side's resurgence.

• CAP approach

  CAP return

  Valuation

  6%

  $337,035

  6.5%

  $311,109

  7%

  $288,887

• Comparable approach

  Method

  Valuation

  Relative Method

  $332,948

  Geo Method

  $332,948

• Alternative Use

  Use

  Valuation

  Residential

  $311,109

  Hospitality

  $284,974

  Educational

  $237,095

  Medical

  $245,249

  Retail

  $368,815

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7168

Longitude

-73.9899

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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