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109-111 Spring St
New York, NY 10012
Multifamily Property For Sale
·
7 Units
Investment Highlights
- The property is being offered for the first time in over 40 years.
- Retail component offers near-term vacancy suitable for flagship positioning.
- Located in a high-traffic SoHo corridor surrounded by luxury brands.
- The building features dual frontage on Spring and Mercer Streets with strong visibility.
- Residential units provide significant upside with below-market rents.
- 2B tax class designation provides long-term tax advantages.
Executive Summary
109–111 Spring Street presents a rare opportunity to acquire a trophy mixed-use asset in the heart of SoHo, offered for the first time in over 40 years. This cast-iron loft building spans approximately 30,700 square feet and features dual frontage along Spring and Mercer Streets, providing exceptional visibility in one of Manhattan’s most coveted retail corridors. The property includes a retail component with near-term vacancy, creating the potential for a flagship user, alongside nine residential units with meaningful upside, as several units are currently rented below market rates. Positioned within a highly trafficked luxury retail corridor and surrounded by globally recognized brands, the asset benefits from enduring demand and strong retail synergy. Additional value is supported by its 2B tax class designation, capped assessment growth, and long-term signage income, making this a compelling opportunity for both investors and end users seeking a generational SoHo holding.
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 7 | Lot Size | 0.09 AC |
| Property Type | Multifamily | Building Size | 30,700 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1920/1986 |
| Zoning | M1-5A | ||
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 30,700 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1920/1986 |
| Zoning | M1-5A |
Amenities
Unit Amenities
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | - |
Property Taxes
| Parcel Number | 0499-0037 | Improvements Assessment | $7,462,838 CAD |
| Land Assessment | $1,332,564 CAD | Total Assessment | $8,795,402 CAD |
Property Taxes
Parcel Number
0499-0037
Land Assessment
$1,332,564 CAD
Improvements Assessment
$7,462,838 CAD
Total Assessment
$8,795,402 CAD
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