391 Canal Street

For Sale

391 Canal Street, New York, NY 10013

This New York property for sale is located at 391 Canal Street. Contact the listing broker for details on the current sale price for 391 Canal Street. 391 Canal Street is situated on a lot that is 0.47 acre in size.

Contacts

broker
Bob Knakal

BKREA

Property Details

  • Property Type VacantLand
  • Property Size 20,261 SF
  • Lot Size 0.47 Acre
  • Date Updated Mar 11, 2025
BKREA has been exclusively retained to arrange for the sale of 391 Canal Street ("The Site"), an exceptional development opportunity in the highly coveted SoHo neighborhood. The site is located on the North side of Canal Street, between Thompson Street and West Broadway, with 21.5 feet of frontage along Canal Street. Its flexible M1 5/R10 zoning, and prime location present developers with an opportunity to capitalize on the strong demand for residential developments, as well as favorable retail economics driven by the proximity to top tourist attractions in SoHo and TriBeCa. Currently, the site consists of one tax lot, improved with a one-story building. The entire site will be delivered vacant, allowing developers to demolish the remaining existing structure. The development lot spans 1,618 square feet and is located within the M1-5/R10, SNX (Special SoHo NoHo Mixed-Use District), permitting a maximum as-of-right FAR of 12.0 for Residential-Universal Affordability Preference (UAP) uses, with up to 10.0 FAR allocated for market-rate residential purposes. A purchaser can satisfy the UAP affordability requirement by acquiring offsite UAP certificates (formerly offsite Inclusionary Housing), which would increase the market-rate ZFA to 12.0 FAR (20,261 square feet). These certificates are not included in the sale. While the highest and best use is a residential project with retail at the base, zoning also allows for a total FAR of 5.0 for commercial use, 5.0 FAR for manufacturing, and 6.5 FAR for a community facility. This development site presents an exceptional opportunity for developers to capitalize on the strong fundamentals of the highly desirable SoHo neighborhood. The area has long been one of New York City's most vibrant and luxurious neighborhoods. Situated at the crossroads of SoHo and Tribeca. The area is highly pedestrian-friendly, with wide sidewalks and a dense mix of retail, dining, and cultural attractions within a short walking distance. The site is well-served by multiple subway lines, with the Canal Street station just steps away, providing access to the A, C, and E trains, ensuring seamless connectivity to Midtown, Brooklyn, and beyond.
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Highlights

  • Unrivaled Visibility
  • Canal Street frontage ensures high
  • visibility on a wide street, making it an
  • ideal location for a statement
  • residential development.
  • Vacant Possession
  • The existing building wi l be delivered vacant,
  • providing time and cost savings.
  • Boutique Development Potential
  • The smaler footprint provides a unique
  • opportunity to craft an exclusive, high-end
  • project tailored to discerning buyers or
  • tenants.
  • Advantageous Accessibility
  • With the Canal Street station just steps away,
  • 391 Canal Street offers unbeatable
  • connectivity, creating efficient travel
  • throughout Manhattan and beyond.
  • Coveted Location
  • 391 Canal Street is idea ly located in the
  • intersection of SoHo and TriBeCa alowing
  • developers to benefit from the unmatched
  • demand for new projects

Getting around

  • 100/100

    Walk Score ®

  • 100/100

    Transit Score ®

  • 95/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City New York, NY
  • Neighborhood SoHo
  • Zip Code 10013
  • Market Manhattan

Points of Interest

  • Spring Street

    0.26 miles

  • Broadway & Houston Street at Southeast Corner

    0.49 miles

  • Broadway & Houston Street at Northeast Corner

    0.51 miles

  • Houston Street & Lafayette Street at Southeast Corner

    0.54 miles

  • Houston Street & Crosby Street at Northeast Corner

    0.55 miles

  • Houston Street & Lafayette Street at Northeast Corner

    0.57 miles

  • Bleecker Street & Lafayette Street at Southwest Corner

    0.60 miles

  • Bleecker Street & Mulberry Street at Southwest Corner

    0.60 miles

  • Bleecker Street & Lafayette Street at Northwest Corner

    0.60 miles

  • Bleecker Street & Mulberry Street at Southeast Corner

    0.61 miles

  • ChargePoint

    0.49 miles

  • Blink

    0.53 miles

  • Tesla Supercharger

    0.76 miles

  • Mobil

    1.19 miles

  • BP

    1.84 miles

  • Emporium

    2.50 miles

  • Citgo

    2.73 miles

  • Sunoco

    2.80 miles

  • Gulf

    2.83 miles

  • Park Fast

    0.30 miles

  • Speedy Park

    0.55 miles

  • iPark

    0.56 miles

  • SP+

    0.59 miles

  • Christie Garage

    0.62 miles

  • Pier 40

    0.65 miles

  • Edison ParkFast

    0.73 miles

  • Beekman Parking

    0.78 miles

  • Enterprise Ann Parking

    0.80 miles

  • 88 Madison Street Parking

    0.83 miles

  • Soho Grand Hotel

    0.03 miles

  • Modernhaus SoHo

    0.05 miles

  • Sheraton

    0.07 miles

  • Hilton Garden Inn Tribeca

    0.08 miles

  • SoHo 54 Hotel

    0.14 miles

  • Sixty SoHo

    0.17 miles

  • Roxy Hotel

    0.18 miles

  • The Dominick

    0.24 miles

  • Arlo Soho

    0.25 miles

  • Soho Garden Hotel

    0.26 miles

  • Kartell

    0.15 miles

  • Sunrise Mart

    0.15 miles

  • Muji

    0.22 miles

  • Pearl River Mart

    0.23 miles

  • TJ Maxx

    0.24 miles

  • Trader Joe's

    0.27 miles

  • Bloomingdale's

    0.31 miles

  • Gourmet Garage

    0.31 miles

  • Christmas in New York

    0.44 miles

  • Tokyo Mart

    0.47 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Bob Knakal

BKREA

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