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Chinatown Mixed-Use Changes Hands After 66-Year Hold

Marcus & Millichap closed the $4.8-million sale of 47 Bayard St., a mixed-use property in Lower Manhattan’s Chinatown neighborhood. The transaction marks the first time the property has changed hands in more than 66 years.   

“Mixed-use buildings with no rent regulation and a clear path to becoming vacant continue to attract the largest buyer pool in the market today,” said Matt Fotis. Fotis, Michael Weinstein and Colton Traynham, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller and procured the buyer, both local private investors.   

Built in 1910, the four-story, 8,025-square-foot 47 Bayard is located between Elizabeth and Bowery streets in Chinatown. The mixed-use property includes a ground-floor retail space occupied by Nice One Bakery, two residential units and four commercial units across the second and third floors. The top two floors were delivered vacant.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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