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
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