Sold on 7/8/2022 for $4,690,000
148 Baxter Street
MLS® #RLS10781708
Listing by Elegran Real Estate and Development
7
Bedrooms
7
Baths
5,450
Sq. Ft.
1920
Year Built
Quick Summary
Property Highlights
- Style: Prewar architecture
- Character: Pre-war building (1920)
Property Details
Description
Will be delivered vacant. This is a property with immense potential and it is well-priced, leaving ample room for remodeling costs. For investors, setup estimate can be provided. Nestled in the historic downtown locale of NYC's most vibrant neighborhood is this exciting and unique development opportunity at 148 Baxter Street. An impressive 5-story building with extra high ceilings awaits those with an imagination to transform this vacant building into an iconic retail and/or residential destination. With an enviable location a short walk from SoHo's famous boutique retail corridor, half a block from a collection of eclectic restaurants, close to most subway lines, and in the heart of NYC's influential art and culture center, this multi-family is a rare opportunity one can capture. This towering building is set on a 21' wide and 71' deep lot and currently offers mixed-use with five units, all at free-market rent with significant income upside, plus a 1,300 sqft retail space with a full-sized basement for expansion. Those wanting to develop this site will relish the more than 4,000 sqft of residential space that can be converted into a 7-bed, 7-bath SoHo loft-style townhome. The property could also be converted into a 3-bed, 3-bath owner's duplex with a private roof deck, while benefiting from generous monthly rental income from the residential/commercial spaces to offset carrying costs. There is also enough FAR to add an additional appx 2000 sf of interior space. With property tax class 2B status, the annual city tax increase is capped. The abundance of extra-large windows on each floor fills the space with a lavish amount of natural light. The staircase leads to the 900 sqft rooftop, a finishing touch that is ready to be transformed into an exclusive rooftop garden with views overseeing this exceptional neighborhood.
Features & Amenities
Exterior Features
Building Information
About Little Italy
View All Little Italy ListingsLittle Italy provides a expansive environment for those seeking space and value within New York City. The area is known for its scenic atmosphere and a real estate market that features a blend of expansive cooperatives and traditional multi-family residences.
Little Italy Live Market Data
View NeighborhoodActive Listings
5
Median Asking Price
$3.70M
Median $/Sqft
$1,771
Avg Days on Market
N/A
New This Week
1
Price Reduced
40%
Sold (30 Days)
0
Median Sale Price
N/A
Live data from RLS at REBNY • Updated 2/25/26, 6:40 PM EST
Recently Sold in Little Italy
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Location
148 Baxter Street, Little Italy, New York County • Near Hester Street/Grand Street
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Market Data
RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.
Map & Location
OpenStreetMap contributors via Leaflet. Geocoding via Nominatim.
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Listing Courtesy of Elegran Real Estate and Development - Helene Xu
Listing Contact: (646) 643-4130
Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.
RLS Data display by Keller Williams NYC. Data last updated on 2/25/2026 at 11:40 PM UTC