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Loft Building with High Ceilings

438-448 W 37th St, New York, NY

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For Sale

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Loft building featuring soaring ceilings and large windows for sale.

Type:OFFICE

Property size:

14,384 SF

Lot size:

0.29 Acres

Price / SF:

$535/SF

HighLights

Soaring 13’4” ceilings and large north and south facing windows.
Unique larger floor plates and two‑floor contiguous block.
Very low carrying costs.
Up to 90% financing available for qualified buyers.
Newly renovated lobby and building improvements.
Next to the Baryshnikov Arts Center, Chef’s Table at Brooklyn Fare, Uncle Jack’s Steakhouse, Walt Frazier’s, Legacy Records and Peloton’s corporate headquarters.

We can help!

Contact an agent

Michael Rudder

Learn more

For Sale

Contact for pricing

Loft building featuring soaring ceilings and large windows for sale.

Type:OFFICE

Property size:

14,384 SF

Lot size:

0.29 Acres

Price / SF:

$535/SF

Added:: Dec 2, 2024
Days on Market:: 572
Last Refresh:: May 19 at 9:04 pm

Property Features for 438-448 W 37th St

General Information

Standard status: Active
Size: 14,384 SF
Lot size: 0.29 Acres
Property subtype: OFFICE

We can help!

Contact an agent

Michael Rudder

Listing office Rudder Property Group

Listing date Dec 2, 2024

Source Moodyscre

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 Rudder Property Group

HighLights

Soaring 13’4” ceilings and large north and south facing windows.
Unique larger floor plates and two‑floor contiguous block.
Very low carrying costs.
Up to 90% financing available for qualified buyers.
Newly renovated lobby and building improvements.
Next to the Baryshnikov Arts Center, Chef’s Table at Brooklyn Fare, Uncle Jack’s Steakhouse, Walt Frazier’s, Legacy Records and Peloton’s corporate headquarters.

Overview

This loft building features 13'4" ceilings and large north and south-facing windows. The property offers larger floor plates and a two-floor contiguous block. The building has a newly renovated lobby and building improvements. It is located next to the Baryshnikov Arts Center, Chef’s Table at Brooklyn Fare, Uncle Jack’s Steakhouse, Walt Frazier’s, Legacy Records, and Peloton’s corporate headquarters, and across the street from the Brooklyn Fare gourmet store, which offers lunch options. Up to 90% financing is available for qualified buyers. The property encompasses 14,384 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$740.5k	$51.48
− Vacancy	−$140.0k	−$9.73
EGI	$600.5k	$41.75
− OpEx	−$150.1k	−$10.44
NOI	$450.4k	$31.31

14,384 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%

Alternative Uses

Best Use

Office B

$6.43M

$5.63M – $7.51M (±1% cap)

NOI $450,402 @ 7.0% cap · market cap 5.85%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$35.80M

$31.33M – $41.77M (±1% cap)

NOI $2,506,268 @ 7.0% cap · market cap 32.57%

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

Location Intelligence

Current Use by Public Records

The Glass Farmhouse Condominium Condominium Complex

Suggested Use

Location Insight

Map
Local Demand

City: New York
County: New York
State: New York
Longitude: -74.004
Latitude: 40.653

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For sale
Office buildings
NY
New York
438-448 W 37th St

What type of property is this?

Office building - Loft building featuring soaring ceilings and large windows for sale.

Where is this office building located?

The property is located at 438-448 W 37th St New York, NY.

What is the asking price?

The asking price for this property is $7,695,440.

What are key features of this property?

This property features: Soaring 13’4” ceilings and large north and south facing windows.; Unique larger floor plates and two‑floor contiguous block.; Very low carrying costs.

438-448 W 37th St, New York, NY

Loft building featuring soaring ceilings and large windows for sale.

Property Features for 438-448 W 37th St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Second-Floor Professional Office

Medical/Dental Condo Ready

Manhattan Commercial Condo For Sale

Vacant First-Floor Retail Store

Established Medical-Dental Practice Condo

Four-Story Mixed-Use Building

Chinatown Office Space Opportunity

Chinatown Office Space Opportunity

Mixed-Use Townhouse with Storefront

Morningside Gold Coast Brownstone

Two-to-Four Unit Residential Property

Mixed-Use Building with Ground Retail

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