Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Commercial Space in Downtown Title is generated by Realmo AI

    15 Park Row, New York, NY 10007

    View on Map
    Claim this Listing
    For Sale
    $8,000,000

    34,737 SF commercial space with high visibility and foot traffic.

    Type:office.office_condo,retail.street_retail
    Property size:
    34,737 SF
    Price / SF:
    $230/SF
    Added:
    Mar 7, 2026
    Days on Market:
    91
    Last Refresh:
    Mar 7 at 7:08 pm

    Property Features for 15 Park Row

    General Information

    Standard status
    Active
    Size
    34,737 SF
    Property subtype
    office.office_condo,retail.street_retail

    We can help!

    Listing Contact
    James Nelson
    James Nelson

    Listing agent James Nelson License #10301211302

    Listing office Avison Young - US - NY - New York

    Listing date Mar 7, 2026

    Source Avisonyoung

    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 Avison Young - US - NY - New York

    HighLights

    • Unmatched visibility and heavy foot traffic directly across from City Hall Park and near the Brooklyn Bridge.
    • Flexible layout suitable for flagship retail, food & beverage, boutique fitness, or experiential concepts.
    • Located in a dynamic live‑work‑play submarket with growing residential density.
    • Over 100 feet of frontage along Park Row.
    • Steps away from numerous subway lines.
    • Delivered vacant for immediate investor or end‑user opportunity.

    Overview

    The 34,737 square foot commercial leasehold is located at 15 Park Row, directly across from City Hall Park and near the Brooklyn Bridge. This historic mixed-use building benefits from high visibility, heavy foot traffic, and access to a diverse customer base of tourists, office workers, residents, and students. The unit features over 100 feet of frontage along Park Row, excellent ceiling heights, and a flexible layout suitable for flagship retail, food and beverage, boutique fitness, or experiential concepts. The location is near the New York City Supreme Court, Pace University, and the World Trade Center. Growing residential density has transformed the neighborhood into a dynamic live-work-play submarket. Notable retailers in the area include Zara, Nobu, Mercer Labs, Laissez Faire, and Sephora. The unit is also steps away from numerous subway lines. The layout offers flexibility with ground floor space, an expansive basement, a mezzanine level, and separate office space. Delivered vacant, this unit presents an immediate opportunity for investors or end-users. This location is one of the earliest skyscrapers and claimed the title of tallest building in NYC until 1908.
    Location Intelligence

    Current Use by Public Records

    Digital Healer Tech Support Center New York City ... Tax Preparation Markham Enterprises Inc (Bike/Boat/Book/etc) Store Boxx Media, Inc. Marketing & Advertising Accusonic Products Industrial Manufacturer

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare 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
    -74.0079043
    Latitude
    40.711336

    Nearby Similar for Sale

    • $999,999
      905 SF

      Medical/Dental Condo Ready

      Fully built-out medical/dental condo for sale in New York.
      139 Centre Street, New York, NY 10013
      View Details
    • $950,000
      1,197 SF

      Manhattan Commercial Condo For Sale

      Prime commercial condo in Little Italy/Chinatown, move-in ready.
      128 Mott Street, New York, NY 10013
      View Details
    • $429,000
      437 SF

      Chinatown Office Space Opportunity

      Vacant 437 sq ft office space in vibrant Chinatown.
      210 Canal Street, New York, NY 10013
      View Details
    • $498,000
      515 SF

      Chinatown Office Space Opportunity

      Vacant 515 sq ft office space in Chinatown.
      210 Canal Street, New York, NY 10013
      View Details
    • $299,000
      905 SF

      Established Medical-Dental Practice Condo

      Fully built-out medical-dental practice with established patient base.
      139 Centre Street, New York, NY 10013
      View Details
    • $1,850,000
      8,010 SF

      Prime Commercial Storefront in Manhattan

      Manhattan commercial space with basement, backyard, and high ceilings.
      75 Allen Street, New York, NY 10002
      View Details
    • $999,987

      Bushwick Multi-Family Investment Opportunity

      Six-unit building in vibrant Bushwick, Brooklyn with strong rental income.
      1434 Greene Ave, New York, NY 11237
      View Details
    • $3,000,000
      2,900 SF

      Morningside Gold Coast Brownstone

      Turnkey, fully restored four-level brownstone in Morningside Gold Coast.
      387 Manhattan Avenue, New York, NY 10026
      View Details
    • $1,299,000
      1,764 SF

      Morris Park Detached Brick Tudor

      Detached 5-bedroom, 3-bathroom home in Morris Park, Bronx.
      2033 Hering Avenue, New York, NY 10461
      View Details
    • $1,345,000

      Two-to-Four Unit Residential Property

      For-sale multifamily asset offering two to four residential units on Rochelle Street in the Bronx.
      111 Rochelle Street, New York, NY 10464
      View Details
    • $7,250,000
      3,500 SF

      Mixed-Use Building in Lower East

      Three-story mixed-use building in Manhattan's Lower East Side.
      113 Ludlow St, New York, NY 10002
      View Details
    • $3,200,000
      6,300 SF

      Chelsea Commercial Condo Fourth Floor

      6,300 SF white-box space in prime Chelsea location.
      305 7th Avenue, New York, NY 10001
      View Details

    FAQs

    What type of property is this?
    Retail space - 34,737 SF commercial space with high visibility and foot traffic.
    Where is this retail space located?
    The property is located at 15 Park Row New York, NY.
    What is the asking price?
    The asking price for this property is $8,000,000.
    What are key features of this property?
    This property features: Unmatched visibility and heavy foot traffic directly across from City Hall Park and near the Brooklyn Bridge.; Flexible layout suitable for flagship retail, food & beverage, boutique fitness, or experiential concepts.; Located in a dynamic live‑work‑play submarket with growing residential density.
    (917) 362-1485
    We can help!
    Listing Contact
    James Nelson
    James Nelson
    Real Estate License ID: 10301211302
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    15 Park Row, New York, New York 10007
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!