296 Elizabeth Street presents a rare opportunity for an investor, or owner user, to acquire an asset in the heart of New York's NoHo area. The subject property consists of the basement and ground-floor levels in a five-story building. There are two basement units and one first-floor unit. The property has a strong historical occupancy and the owner has occupied the third-floor unit, which they also own. The Co-op Board does not require approval for new tenants, as long as they are compliant with the current zoning standards. This allows a new owner to have more flexibility in finding new tenants.

NoHo is located in the Greenwich Village submarket, which remains one of the most desirable retail/commercial submarkets across the metro, and this is reflected in the asking rent levels, which are more than double the New York average. High rents and a desirable consumer base make the submarket an attractive investment market with limited available product.