39-41 Eldridge Street

Listed By Compass
Listed By Compass
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Active
$16,000,000
Est: $90,783/moGet pre-approved
20 beds23,027 sqft

39-41 Eldridge Street, Chinatown, Manhattan, NY 10002

Description

The Formation Team is pleased to present 39 Eldridge Street, a commercial building in the heart of Manhattan’s Chinatown/ Lower East Side corridor. This five story building is currently configured as four floor-through commercial spaces over ground-floor retail, 39 Eldridge Street is especially well-suited for a future condominium conversion and to capitalize on the opportunities presented by the City of Yes zoning initiatives, including potential utilization of additional FAR.
- Building Overview...The Formation Team is pleased to present 39 Eldridge Street, a commercial building in the heart of Manhattan’s Chinatown/ Lower East Side corridor. This five story building is currently configured as four floor-through commercial spaces over ground-floor retail, 39 Eldridge Street is especially well-suited for a future condominium conversion and to capitalize on the opportunities presented by the City of Yes zoning initiatives, including potential utilization of additional FAR.

- Building Overview
The current configuration, efficient floorplates, and building scale make the property highly adaptable—whether for continued operation as commercial or as a conversion to residential condominiums with a retail or community-facility component.

- City of Yes & Development Potential
As New York City advances its City of Yes zoning text amendments aimed at unlocking housing supply and encouraging reinvestment in existing building stock, 39 Eldridge Street is poised to benefit. The property offers a compelling platform for a forward-thinking owner to explore:
• As-of-right and potential enhanced residential use under the evolving zoning framework
• Reconfiguration of existing layouts to maximize sellable condo square footage
• Strategic legalization or optimization of residential density in line with future text changes

- Condominium Conversion & Additional FAR
39 Eldridge Street is an attractive candidate for a boutique condo conversion, with the ability to create highly marketable one- and two-bedroom units appealing to both end-users and investors seeking downtown ownership product. The property already benefits from south-facing windows on the 4th and 5th floors (a third exposure) and offers the potential to add north-facing windows on all floors (a fourth exposure), significantly enhancing light, air, and overall residential desirability. Preliminary zoning analysis suggests potential for additional buildable square footage/FAR, allowing a purchaser to explore vertical extensions, rooftop amenity space, or penthouse levels (subject to a full architectural and zoning review, DOB approvals, and all applicable regulations). This combination of existing improvements, multiple exposures, and expansion potential offers a clear path to value creation.

- Desirable Downtown Location
Ideally situated on Eldridge Street in the core of Chinatown/Lower East Side, the property benefits from exceptional neighborhood demand and connectivity. Residents and future condo owners enjoy immediate access to Essex Crossing, Sara D. Roosevelt Park, an abundance of dining, grocery, and retail options, and nearby cultural destinations in SoHo and the Lower East Side. The building is convenient to multiple subway lines—including the B/D, J/Z, F, N/Q/R/W, and 6 trains—offering seamless access to Midtown, Brooklyn, and the Financial District. This central downtown location further enhances the appeal of 39 Eldridge Street as a long-term hold, condo exit, or phased redevelopment play.
OtherProperty Type
0.11 acresLot Size
1900Year Built
$695/sq ftPrice per sq ft
Pets welcomePet policy
Last updated: 08/07/2026 10:22 AM
393 days on Market
Listing Agent
  1. Formation Team

    Formation Team

    Alternative Listing Agent

    Compass

    P: (646) 883-3207

    CallText

Amenities

39-41 Eldridge Street

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Location

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$90,783 per month

Principal and Interest

$74,740

Property Taxes

$16,043

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Property information

39-41 Eldridge Street

Property Details

  • Taxes: $16,043 / month
  • Min. Down Pymt: 30%

Building Information

  • Stories: 6
  • Residences: 6
  • Year Built: 1900
  • Building Size: 49.92' x 100'
  • Building Sq. Ft: 29,952 SF
  • Lot Size: 5,000 SF

Property History

39-41 Eldridge Street

DateEventPrice
Oct 15, 2025

Listed (Active)

Manual

$16,000,000
DateEventPrice
10/15/2025

Listed (Active)

Manual

$16,000,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools

Near 39-41 Eldridge Street

This home is within New York City Geographic District # 2.

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Chinatown
Chinatown
A pocket of downtown Manhattan rich with history and tradition. With its rich culture and sense of tradition, Chinatown has masterfully preserved its roots amidst the ever-changing landscape of Manhattan. Explore winding streets and densely packed storefronts to discover authentic cuisines and a...
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More information about 39-41 Eldridge Street, Chinatown

39-41 Eldridge Street is for sale in Chinatown. This property was listed for sale on October 15, 2025 by Compass, it's currently listed at $16,000,000. This listing's school district is New York City Geographic District # 2. Nearby schools include P.S. 42 Benjamin Altman, Lower Manhattan Community Middle School and Nyc Lab Ms For Collaborative Studies. 39-41 Eldridge Street is a 20-bed, 0-bath, 23,027 sqft built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

This 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. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2026, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY 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 information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2026 The Real Estate Board of New York, Inc., All rights reserved.