Downtown Retail/Office Building For
For Sale
Contact for pricing
87 Greenwich St, New York, NY
Three-story retail/office building with outdoor seating in downtown New York.
Property Size5,332 SF
Lot Size0.03 Acres
Price / SF$2,484
Days on Market613
Property Features for 87 Greenwich St
General Information
Standard status
Active
Size
5,332 SF
Lot size
0.03 Acres
Property subtype
RETAIL
Site & Location
Neighborhood
Downtown
Listing Agency:
Helmsley Spear
(212) 396-8100
Listed By:
Richard Rosenthal
(917) 693-0831
Source:
Moodyscre
Added: Feb 28, 2025
Changed: Oct 25
Last Checked: Nov 1 at 8:36AM
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 Helmsley Spear
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 three-story retail/office building offers 5,332 square feet of space in downtown New York. Located on the southeast corner of Greenwich and Rector Streets, the property is suitable for restaurant users and retailers. The building includes a full basement, the entire ground floor, the entire second floor, and the entire third floor. An outdoor area provides seating for up to 26 people. The location offers convenient access to the 1, 2, 3, 4, 5, R, and W subway lines, as well as major bus stops.
Key Highlights
- Prime downtown Manhattan location at the corner of Greenwich and Rector Streets
- 5,332 square foot retail/office building suitable for restaurant users and retailers**
- Includes a full basement, ground floor, second floor, and third floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$929,048
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,580,960
$18.6M
Cap Rate 7%
$13,272,114
$13.3M
Cap Rate 9%
$10,322,756
$10.3M
Market Conditions
NOI Build-Up for 5,332 SF
Gross rent
$1.41M $264.00/SF
− Vacancy
−$168.9K −$31.68/SF
EGI
$1.24M $232.32/SF
− OpEx
−$309.7K −$58.08/SF
NOI
$929.0K $174.24/SF
Area
New York, NY
Vacancy
12.00%
Lease Rate
$264.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,580,960
Cap Rate 7%
$13,272,114
Cap Rate 9%
$10,322,756
Alternative Uses
Best Use
Specialty Retail
$13.27M
$11.61M – $15.48M
NOI $929,048 @ 7.0% cap · market cap 7.01%
Second Best
Retail
$10.72M
$9.38M – $12.51M
NOI $750,343 @ 7.0% cap · market cap 5.66%
Theoretical Best
—
—
same as Best Use
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
Location Intelligence
Trade Area within ½ mile
30,992
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Three-story retail/office building with outdoor seating in downtown New York.
Where is this retail space located?
The property is located at 87 Greenwich St New York, NY.
What is the asking price?
The asking price for this property is $13,250,000.
What are key features of this property?
This property features: Prime downtown Manhattan location at the corner of Greenwich and Rector Streets; 5,332 square foot retail/office building suitable for restaurant users and retailers**; Includes a full basement, ground floor, second floor, and third floor
