Historic Mixed-Use
For Sale
$9,750,000
Pending
115 South Street, New York, NY 10038
Commercial Sale, New York, NY
Property Size13,119 SF
Days on Market112
Property Features for 115 South Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
8
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 8, Bedroom 7, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 8, Bathroom 9, Bathroom 7, Bathroom 5, Bedroom 6, Bathroom 2, Bathroom 10, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 6, Bathroom 4
Subdivision
Seaport District
High school district
000000
Standard status
Pending
Size
13,119 SF
Additional Details
Tenant in Place
Yes
Mixed-Use Components
retail, residential
Building Details
Architectural style
Other
Buildings
1
Listing Agency:
Compass
(646) 982-0353
Listed By:
Jim St. Andre
Added: Jul 18
Changed: Nov 6
Last Checked: Nov 6 at 12:06PM
MLS# 11685025
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 13,119-square-foot mixed-use property is 37 feet wide and incorporates a circa-1840 ship-house structure. Existing improvements include a ground-floor retail space, six half-floor rental apartments, and a penthouse loft configured with 2 bedrooms, 1.5 bathrooms, and 14-foot pitched ceilings. Exposed timber columns and beams, brick walls, and skylights remain visible throughout the building.
The property is located in New York’s Seaport district near the East River, where historic facades and cobblestone streets are complemented by restaurants, bars, shops, and cultural sites. Ferry service provides access to Brooklyn, while the building offers views toward the river and Brooklyn Bridge.
Additional FAR may be deployed for a rooftop addition with LPC approval, potentially expanding the interior residential area. The existing configuration supports a combination of retail use, residential occupancy, and apartment rentals.
The property is located in New York’s Seaport district near the East River, where historic facades and cobblestone streets are complemented by restaurants, bars, shops, and cultural sites. Ferry service provides access to Brooklyn, while the building offers views toward the river and Brooklyn Bridge.
Additional FAR may be deployed for a rooftop addition with LPC approval, potentially expanding the interior residential area. The existing configuration supports a combination of retail use, residential occupancy, and apartment rentals.
Key Highlights
- 13,119‑square‑foot mixed‑use building on a 37‑foot‑wide lot
- Ground‑floor retail space with six half‑floor rental apartments above
- Penthouse loft configured with 2 bedrooms, 1.5 bathrooms, and 14‑foot pitched ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$418,168
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,363,360
$8.4M
Cap Rate 7%
$5,973,829
$6.0M
Cap Rate 9%
$4,646,311
$4.6M
Market Conditions
NOI Build-Up for 13,119 SF
Gross rent
$787.1K $60.00/SF
− Vacancy
−$118.1K −$9.00/SF
EGI
$669.1K $51.00/SF
− OpEx
−$250.9K −$19.13/SF
NOI
$418.2K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,363,360
Cap Rate 7%
$5,973,829
Cap Rate 9%
$4,646,311
Alternative Uses
Best Use
Retail
$26.37M
$23.08M – $30.77M
NOI $1,846,165 @ 7.0% cap · market cap 18.94%
Second Best
Mixed Use
$5.97M
$5.23M – $6.97M
NOI $418,168 @ 7.0% cap · market cap 4.29%
Theoretical Best
Specialty Retail
$32.66M
$28.57M – $38.10M
NOI $2,285,855 @ 7.0% cap · market cap 23.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
32,498
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in New York, NY
Properties on Market for Mixed-use properties in New York
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail, residential, and rental components occupy a ship-house structure with exposed timber, brick, and skylights.
Where is this mixed-use property located?
The property is located at 115 South Street New York, NY.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: 13,119‑square‑foot mixed‑use building on a 37‑foot‑wide lot; Ground‑floor retail space with six half‑floor rental apartments above; Penthouse loft configured with 2 bedrooms, 1.5 bathrooms, and 14‑foot pitched ceilings
