Marcus & Millichap is the exclusive sales broker for 312 Bowery (the “Property”), a mixed-use elevator building on Bowery between Bleecker and Houston Streets in NoHo.  The Property is built 50 feet by 80 feet on a 50-foot by 101.42-foot C1-6/LI-zoned lot.  The Property has approximately 7,000 square feet of unused development rights and is in the NoHo East historic district.

The Property’s unit mix is comprised of a 3,900 square foot ground floor commercial space occupied until 2032 by The Hole, an art gallery.  The upper floors house twenty-two modernized free-market apartments of which twenty-one are one-bedrooms-one bath and one is a three-bedroom-two-bathroom unit.  All apartments have a washer/dryer, and some have a balcony.

Located in one of the city’s most fashionable and appealing neighborhoods, the Property is surrounded by apparel boutiques, critically acclaimed restaurants, loft buildings and popular nightlife that attract a high volume of locals and tourists to the immediate area as well as national tenants such as Chase, CVS and Whole Foods Market.  The Property is four blocks subway stations at Bleecker Street (6-line), Broadway-Lafayette (B, D, F, M lines) and Second Avenue (F line). The Property benefits from its location at the crossroads of multiple in-demand neighborhoods specifically the East Village, the Lower East Side, SoHo, Nolita.

The Property offers an investor the exceptional opportunity to own a building in one of the most desirable neighborhoods in New York City.  Moreover, the Property’s apartments are not subject to rent regulation as the building was converted from medical use to apartments in 2006.  Finally, due to being in NoHo, one of the most in-demand and fashionable neighborhoods in Manhattan, the Property has historically strong rents and low vacancy.