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434 Greenwich St 5,500 SF Office/Retail Condo Unit Offered at $3,417,750 CAD in New York, NY 10013
Investment Highlights
- Currently ~73% vacant creating a value-add opportunity for an investor or user
- There is 55.5 years remaining on the leasehold, allowing a new owner to capitalize on a long-term presence in Tribeca’s affluent “gold coast”
- Wrap around frontage along Greenwich Street and Vestry Street
- Situated on prime corner in one of the country’s most expensive zip codes & in proximity to many national & local retailers & notable art galleries
Executive Summary
The property is located at Greenwich Street and Vestry Street in Manhattan’s Tribeca neighborhood. It occupies space in the ground floor and lower level of a residential co-op building. The location is within the North Tribeca Historic District and near various commercial and residential developments, cultural venues, and dining establishments. The area is accessible via multiple subway lines and major roadways and is within walking distance of Hudson River Park and Lower Manhattan’s business core.
1 Unit Available
Unit Commercial
| Unit Size | 5,500 SF | Sale Type | Investment or Owner User |
| Price | $3,417,750 CAD | Cap Rate | 10.25% |
| Price Per SF | $621.41 CAD | NOI | $350,343.98 CAD |
| Condo Use | Office/Retail |
| Unit Size | 5,500 SF |
| Price | $3,417,750 CAD |
| Price Per SF | $621.41 CAD |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 10.25% |
| NOI | $350,343.98 CAD |
Description
With 55.5 years remaining on the leasehold and the corner unit being delivered vacant, the Property presents owner occupiers with the rare opportunity for a presence of New York City’s most sought after neighborhood.
Sale Notes
RIPCO REAL ESTATE has been exclusively retained to market the leasehold position in the ground floor commercial space within the co-op building located at 434 GREENWICH STREET — TriBeCa, NY 10022 for sale (The ’Property’).
The Property is situated on the southwest corner of Greenwich Street and Vestry Street, at the base of a luxury residential co-op building. The Property is in the heart of the North Tribeca Historic District on a prime corner in one of the country’s most expensive zip codes, and offers approximately 4,500sf of above grade space as well as 1,000sf of below grade space across two subdivided commercial spaces.
+5 More
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Lower Level
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Ground Floor
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Interior Photo
Property Facts
| Total Building Size | 31,527 SF | Floors | 7 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 4,361 SF |
| Property Subtype | Apartment | Year Built | 1920 |
| Building Class | C | Lot Size | 0.09 AC |
| Zoning | M1-5 - Light Industrial | ||
| Total Building Size | 31,527 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 7 |
| Typical Floor Size | 4,361 SF |
| Year Built | 1920 |
| Lot Size | 0.09 AC |
| Zoning | M1-5 - Light Industrial |
Presented by
434 Greenwich St
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