Varick Street Office
For Sale
$11,000,000
121 Varick Street, New York, NY 10013
Office co-op with polished concrete floors and exposed ceilings.
Property Size146,861 SF
Price / SF$871.43
Days on Market198
Property Features for 121 Varick Street
General Information
Standard status
Active
Size
146,861 SF
Class
C
Property subtype
Office
Building Details
Building Size
146,861 SF
Listing Agency:
Bradford Allen - Corporate
Listed By:
Gordon Ogden
(212) 593-7113
Source:
Bradfordallen
Added: Mar 26
Changed: Oct 7
Last Checked: Oct 7 at 9:04AM
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 Bradford Allen - Corporate
Investment Insights
Based on property information with market context.
The entire 5th floor, totaling 12,623 square feet, is available for sale in this office co-op. The space features a recently built installation with polished concrete floors and 12-foot exposed ceilings. An executive restroom with shower is included. Oversized windows on three sides provide good natural light. The lobby has been recently renovated. The property is located in close proximity to Disney, Google, and Horizon Media headquarters. Transportation is convenient, with the 1, A, C, and E subway lines and the Holland Tunnel nearby.
Key Highlights
- Entire 5th floor (12,623 SF) offers significant space and exclusivity
- Recently built installation with modern features: polished concrete floors and 12’ exposed ceilings
- Oversized windows on three sides providing good natural light**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$395,260
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,905,200
$7.9M
Cap Rate 7%
$5,646,571
$5.6M
Cap Rate 9%
$4,391,778
$4.4M
Market Conditions
NOI Build-Up for 12,623 SF
Gross rent
$649.8K $51.48/SF
− Vacancy
−$122.8K −$9.73/SF
EGI
$527.0K $41.75/SF
− OpEx
−$131.8K −$10.44/SF
NOI
$395.3K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,905,200
Cap Rate 7%
$5,646,571
Cap Rate 9%
$4,391,778
Alternative Uses
Best Use
Office B
$5.65M
$4.94M – $6.59M
NOI $395,260 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$31.42M
$27.49M – $36.66M
NOI $2,199,432 @ 7.0% cap · market cap 19.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
26,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
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
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Frequently Asked Questions
What type of property is this?
Office units - Office co-op with polished concrete floors and exposed ceilings.
Where is this office units located?
The property is located at 121 Varick Street New York, NY.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Entire 5th floor (12,623 SF) offers significant space and exclusivity; Recently built installation with **modern features: polished concrete floors and 12’ exposed ceilings**; Oversized windows on three sides providing good natural light**
