247 Bleecker Street, NYC

Investment Highlights:

Meridian Investment Sales is pleased to present 247 Bleecker Street, a four-story, 2,608-square-foot mixed-use building located in the heart of the West Village, one of Manhattan’s most supply-constrained and high-barrier neighborhoods. The property features one ground-floor retail unit and two fully free-market residential units, generating $370,500 in gross annual income and a net operating income of $312,516. The retail space is leased to Colorful Natalie—their flagship NYC store—through June 2030, while the two residential apartments, a 3-bedroom duplex and a 2-bedroom unit, are both occupied at market rents with approved plans to extend the retail space back to the lot line. Built in 1828 and gut renovated within the past six years, the building sits between Cornelia and Carmine Streets with strong pedestrian visibility along one of downtown Manhattan’s most iconic retail corridors.

Zoned R7-2/C1-5 with Tax Class 2A designation, the property benefits from capped tax increases of no more than 8% annually or 30% over five years, providing meaningful expense predictability. With 1,025 square feet of unused air rights, 100% occupancy, and no rent stabilization exposure, 247 Bleecker Street offers investors durable in-place cash flow, long-term appreciation, and optionality in one of New York City’s most enduringly desirable neighborhoods.