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    Historic Beaux-Arts Gem in Manhattan Title is generated by Realmo AI

    15 Park Row Unit 15D, Manhattan, NY 10038

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    Claim this Listing
    For Lease
    $5,500 /Mo

    Historic building with modern amenities in the Financial District.

    Type:MixedUse
    Added:
    Apr 13, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 13 at 10:01 pm

    Property Features for 15 Park Row Unit 15D

    General Information

    Standard status
    Active
    Property subtype
    MixedUse

    Building Details

    Year Built
    1896

    We can help!

    Listing Contact
    Karla M Saladino

    Listing agent Karla M Saladino License #10301210992

    Listing office Mirador Real Estate LLC

    Listing date Apr 13, 2026

    Source Compass

    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 Mirador Real Estate LLC

    HighLights

    • Historic Beaux‑Arts building in the Financial District, once the tallest in the world.
    • Modern amenities including a state‑of‑the‑art fitness center, lounge with billiards, and pet spa.
    • Spacious layouts reminiscent of pre‑war lofts.
    • Modern kitchens and bathrooms.
    • Hardwood floors and stainless steel appliances.
    • Unfurnished unit allowing for personalized design.

    Overview

    15 Park Row is a historic Beaux-Arts building located in the Financial District of Manhattan. This iconic skyscraper, once the tallest building in the world, has been a symbol of ambition and elegance since its completion in 1899. The building combines its storied past with modern living. Contemporary amenities include a fitness center, a lounge with billiards, and a pet spa. The fitness center costs $35 per person monthly and includes towel service. Residents can cancel anytime with 24 hours notice. The units echo the charm of pre-war lofts, complete with spacious layouts, modern kitchens, and bathrooms.
    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

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Manhattan
    County
    New York
    State
    New York
    Longitude
    -74.0079043
    Latitude
    40.711336

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    FAQs

    What type of property is this?
    Mixed-use property - Historic building with modern amenities in the Financial District.
    Where is this mixed-use property located?
    The property is located at 15 Park Row Unit 15D Manhattan, NY.
    What is the lease rate?
    The lease rate is $5,500 /Mo.
    What are key features of this property?
    This property features: Historic Beaux‑Arts building in the Financial District, once the tallest in the world.; Modern amenities including a state‑of‑the‑art fitness center, lounge with billiards, and pet spa.; Spacious layouts reminiscent of pre‑war lofts.
    (212) 248-3333
    We can help!
    Listing Contact
    Karla M Saladino
    Real Estate License ID: 10301210992
    Learn More
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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.

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