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    FiDi Development Opportunity on Pearl Title is generated by Realmo AI

    160 Pearl Street, Manhattan, NY 10005

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    Claim this Listing
    For Sale
    $22,000,000

    Prime mixed-use development opportunity in the Financial District.

    Type:Land
    Property size:
    22,614 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $972/SF
    Added:
    Jan 23, 2026
    Days on Market:
    131
    Last Refresh:
    Mar 13 at 8:23 am

    Property Features for 160 Pearl Street

    General Information

    Standard status
    Active
    Size
    22,614 SF
    Lot size
    0.10 Acres
    Property subtype
    Land

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Nathan Horne
    Nathan Horne

    Listing agent Nathan Horne License #10301210236

    Listing office Compass

    Listing date Jan 23, 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 Compass

    HighLights

    • Prime development opportunity in the Financial District (FiDi).
    • Buildable square footage of up to 65,145 SF.
    • Favorable C5‑5 (R10 equivalent)/LM zoning allowing for mixed‑use development.
    • Residential FAR of 12 allowing for significant building square footage.
    • Lucrative investment potential with strong condo and rental rates.
    • Flexible ownership open to ground lease or financing options.

    Overview

    Located in the Financial District, 160 Pearl Street presents a development opportunity available for ground lease or sale. The six-story building encompasses 22,614 square feet and is situated on a 4,343 square foot lot. The property offers a maximum of 65,145 buildable square feet. Zoned C5-5 (R10 equivalent)/LM, the property has a residential FAR of 12, including the recreation bonus, allowing for 52,116 buildable square feet as of right, which can be increased to 62,477 buildable square feet by purchasing neighboring air rights. The commercial FAR of 15 allows for a maximum of 65,145 buildable square feet between residential and commercial uses. The location in the FiDi market, with condo sales ranging from $2,500 per square foot and rentals from $100 per square foot, positions 160 Pearl Street as a potential mixed-use opportunity for a developer. Ownership is open to various proposals, including ground lease or financing options, reflecting the unique nature of this property.
    Location Intelligence

    Current Use by Public Records

    BMS Securities Financial Advisor East Coast Capital Consultant Miller Associates, LTD Business Management Consultant hybrid funder Loan Service Precision Business Funding ... Loan Service

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Gym & Fitness 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
    -74.007444
    Latitude
    40.705708

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    FAQs

    What type of property is this?
    Commercial land - Prime mixed-use development opportunity in the Financial District.
    Where is this commercial land located?
    The property is located at 160 Pearl Street Manhattan, NY.
    What is the asking price?
    The asking price for this property is $22,000,000.
    What are key features of this property?
    This property features: Prime development opportunity in the Financial District (FiDi).; Buildable square footage of up to 65,145 SF.; Favorable C5‑5 (R10 equivalent)/LM zoning allowing for mixed‑use development.
    (706) 255-5657
    We can help!
    Listing Contact
    Nathan Horne
    Nathan Horne
    Real Estate License ID: 10301210236
    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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