Three-Story Office
For Sale
Contact for pricing
114 Delancey St, New York, NY 10002
Corner commercial property in New York’s Lower East Side with a substantial office footprint.
Property Size26,433 SF
Price / SF$945.79
Days on Market582
Property Features for 114 Delancey St
General Information
Standard status
Active
Size
26,433 SF
Property subtype
OFFICE
Building Details
Buildings
1
Stories
3
Listing Agency:
Meridian Capital Group
(212) 972-3600
Listed By:
Amit Doshi
(212) 468-5959
Source:
Moodyscre
Added: Mar 18, 2025
Changed: Oct 1
Last Checked: Oct 19 at 8:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Meridian Capital Group
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Investment Insights
Based on property information with market context.
This three-story office building contains 26,433 square feet of commercial space and is positioned at 114 Delancey St in New York, NY 10002. The property occupies the northwest corner of Essex and Delancey Streets within the Lower East Side. Its multi-level configuration and office classification provide the defining physical and use characteristics for this commercial asset.
Key Highlights
- 26,433 square feet of commercial space
- Three‑story office building
- Northwest corner of Essex and Delancey Streets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$847,080
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,941,600
$16.9M
Cap Rate 7%
$12,101,143
$12.1M
Cap Rate 9%
$9,412,000
$9.4M
Market Conditions
NOI Build-Up for 26,433 SF
Gross rent
$1.36M $51.48/SF
− Vacancy
−$231.3K −$8.75/SF
EGI
$1.13M $42.73/SF
− OpEx
−$282.4K −$10.68/SF
NOI
$847.1K $32.05/SF
Area
ZIP 10002
Vacancy
17.00%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,941,600
Cap Rate 7%
$12,101,143
Cap Rate 9%
$9,412,000
Alternative Uses
Best Use
Office B
$12.10M
$10.59M – $14.12M
NOI $847,080 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$65.80M
$57.57M – $76.76M
NOI $4,605,686 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
24,917
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Corner commercial property in New York’s Lower East Side with a substantial office footprint.
Where is this office building located?
The property is located at 114 Delancey St New York, NY.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: 26,433 square feet of commercial space; Three‑story office building; Northwest corner of Essex and Delancey Streets
