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    The Largest CRE Database in the US with Over 1 Million Listings

    42 Broadway New York, NY 10004

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    For Lease
    $225 SF/Yr

    Prime office space in the Financial District of Lower Manhattan.

    Property size:
    8,000 SF
    Lot size:
    0.52 Acres

    Property Features for 42 Broadway

    General Information

    Size
    8,000 SF
    Lot size
    0.52 Acres

    We can help!

    Listing Contact
    David Ofman
    David Ofman
    Source: Moodyscre

    Listing Agent: David Ofman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Financial District Office Space

    Located in the Financial District of Lower Manhattan, 42 Broadway offers office space within a 20-floor building constructed in 1904. The property benefits from a central location with convenient access to major transit options and New York City amenities. The building features 24-hour access and security. Natural light and views are available. A new street entrance near the Fulton Street Hub (A, C, 2, 3, 4, 5) enhances accessibility. The location is in close proximity to all major transportation, the Staten Island Ferry, and subway access at Battery Park. The Financial District and Wall Street are just 3 minutes away. Nearby banking options include Amalgamated Bank, Chase Bank, HSBC Bank, and Bank of America. Nearby attractions include The Bull, Statue of Liberty, and Canyon of Heroes. The building has on-site owner management and a hi-tech building management system. A multimillion-dollar building renovation includes an elevator modernization program and a new HVAC system. Creative pre-built office spaces are available with high-end finishes and full glass offices. The property features Broadway frontage and tenant-controlled A/C. Pre-built office space is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Birkett Real Estate ... Real Estate Agency TEDDY MAKI STUDIO Photography Service Dr. Marino Kambourakis, ... Alternative Medicine Practice Dr. Tiffany Taveras, ... Alternative Medicine Practice Dr. Charalampos (Bobby) ... Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0128538
    Latitude
    40.7061079

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    FAQs

    What type of property is this?
    Office space - Prime office space in the Financial District of Lower Manhattan.
    Where is this office space located?
    The property is located at 42 Broadway New York, NY.
    What is the lease rate?
    The lease rate is $225 SF/Yr.
    What are key features of this property?
    This property features: - Prime Broadway location, just a block from Wall Street in the Financial District.; - Easy access to major transportation, including subway (Battery Park), express buses, and Staten Island Ferry; new street entrance near Fulton Street Hub (A, C, 2, 3, 4, 5).; - Natural light and views.
    (212) 363-3939
    Request Owner's contact information
    42 Broadway New York, NY 10004
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    New York, NY 10004
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    42 Broadway New York, NY 10004
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    Listing Contact
    David Ofman
    David Ofman
    (212) 363-3939
    Learn more
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