**Chinatown Mixed-Use Property Changes Hands After 66 Years**
Marcus & Millichap has announced the $4.8 million sale of 47 Bayard Street, a mixed-use property located in Manhattan’s Chinatown. This sale marks the property’s first ownership change 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, along with Michael Weinstein and Colton Traynham—investment specialists from Marcus & Millichap’s Manhattan office—represented the seller and secured the buyer, both of whom are local private investors.
Built in 1910, the four-story building spans 8,025 square feet and sits between Elizabeth and Bowery streets. The property features ground-floor retail space currently 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 at the time of sale.
