42-44 E Broadway
New York, NY 10002
Office Property For Sale

Meridian Investment Sales is pleased to present the exclusive sale of 42 East Broadway, a four-story mixed-use commercial building located at the gateway of the City Hall
retail submarket. Positioned on a prominent 50-foot-wide lot between Catherine Street and Market Street, the Property totals 11,475 square feet across two retail levels and
two office levels. Featuring C6-1G zoning and 9,375 square feet of unused development rights, the Property offers both immediate usability and long-term strategic flexibility
in one of Lower Manhattan’s most transit-rich and high-traffic corridors.
The former home of Shorty Tang's has been modernized through a multi-million dollar renovation, most recently in 2016, and is currently configured with a newly builtout restaurant space on the lower levels, offering near-turnkey conditions for retail operators. Delivered vacant at closing, the Property enables investors or users to immediately capture market-rate retail demand without delay. The upper floors provide highly functional office space, well-suited for an owner-user seeking a combined retail-and-office presence, or for investors looking to capitalize on flexible multifloor commercial occupancy. The combination of finished retail infrastructure and adaptable office layouts positions 42 East Broadway as a rare turnkey retail and office opportunity.
The City Hall retail submarket continues to demonstrate strong fundamentals, characterized by tight vacancy of just 3.0% as of Q4 2025, well below its five-year(4.7%) and ten-year (4.1%) averages. The past year saw 33,000 square feet of net absorption and no new retail deliveries, contributing to healthy supply-demand balance. With only 57,000 square feet currently available (4.1% availability) and no space under construction, City Hall remains one of Manhattan’s most supply-constrained retail environments. Market rents average $93 per square foot, supported by a stable longterm growth profile, and the area’s 1.4 million square feet of retail inventory continues to benefit from consistent tenant demand. Investment activity remains robust, with $21.8 million in retail sales volume over the past year and estimated market pricing of $1,189 per square foot, supported by a 4.5% market cap rate, significantly stronger than the broader New York average. These metrics underscore the enduring appeal and resiliency of the City Hall retail market, further enhancing the long-term positioning of 42 East Broadway.