East West Bank Netleased Manhattan Retail — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: New York, NY 10002

Investment Figures

Cap rate
6.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The subject offering is a net-leased retail condominium located at the base of a nine-story office building located right off the corner of Bowery and Canal Street in Lower Manhattan’s Chinatown neighborhood. The entire 13,597 square feet is leased to East West Bank, which has just over six and half years remaining on a lease thatruns through December 21,2032. This branch currently holds $788 million in deposits. East West Bank has occupied this location since 2012. East West Bank is a California-based American bank with 98 locations throughout the country. Founded in 1973,East West Bank reported annual revenue last year of $2.6 billion, with over 3,000 employees and $78 billion in assets under management. They currently hold a rating of “BBB+”, which is Investment Grade Credit, by Standard & Poor’s (S&P). The offering consists of 3,716 square feet on the ground floor, 2,026 square feet on the mezzanine level, 3,815 square feet on the lower level, and 4,040 square feet in the cellar. The lower-level houses East West Bank’s massive vault and safety deposit boxes. This is an opportunity to acquire a minimal management net-leased asset secured by one of the highest deposit locations in the country for an investment-grade rated tenant. East West Bank is responsible for 100 percent of all expenses here, including all real estate taxes and maintenance charges. The site is in the heart of Chinatown, directly off the entrance to the Manhattan Bridge, and surrounded by national and local retailers in every single direction. Investment Highlights: • Net-Leased Retail Condominium Located on the Corner of Bowery and Canal Streets in Manhattan's Chinatown Neighborhood. • 100% Leased to East West Bank Through 2032, With a Full Corporate Guaranteed Lease . East West Bank has $788M in Deposits at This Location. This is Incredibly High Performing Location. • NNN Lease Structure With Tenant Responsible for 100% of all Expenses. Rare Manhattan Retail Offering Backed by a Investmen

Market Context

This retail in New York, NY is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 100 days. Compare it against other retail listings for sale in New York, NY — view the full market.

As of Q1 2026, the New York City Area retail market showed a 4.2% vacancy rate, average asking rents near $54.00/SF/yr, and cap rates around 6.2%.

Its 6.0% asking cap rate is in line with the New York City Area retail market average of about 6.2%. Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in New York City Area?
About 6.2% as of Q1 2026.
Is the New York City Area retail market tightening or softening?
Vacancy is around 4.2% (Q1 2026).

Estimated Market Rate

$730.53/SF – $988.37/SF

Mid: $859.45/SF

Rate estimator only; cost-of-business estimate unavailable.

Contact

  • Scott Plasky
  • Chase Friedman
  • Joe Koicim

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