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91 Canal Street

99-91 Canal Project LLC Acquires Mixed-Use Buildings On Canal Street From Jay Lau For $21.1M
SOLDMixed-use

99-91 Canal Project LLC Acquires Mixed-Use Buildings On Canal Street From Jay Lau For $21.1M

91 Canal Street, 95 Canal Street & 99 Canal Street

$21,100,000

$201/SF

Building Size

105,000 SF

Asset Type

Mixed-use

Closing

Apr 3, 2026

AI

Three mixed-use buildings located at 91 Canal Street, 95 Canal Street, and 99 Canal Street in Manhattan were sold for $21,100,000. The total area of these properties encompasses approximately 35,000 square feet, resulting in a price per square foot of around $603.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $21,100,000
  • Buyer: 99-91 Canal Project LLC
  • Seller: Jay Lau
  • Market: Manhattan
  • Square Footage: 35,000
  • Price Per Square Foot: $603

The buyer, 99-91 Canal Project LLC, acquired the properties from four companies associated with the seller, Jay Lau. This transaction underscores the ongoing interest in mixed-use properties within the Chinatown area of Manhattan.

Players

Jay Lau

N/A

Seller

$46.4M

vol

5 deals

Seller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.75%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93