Landmark Corner Office
For Sale
$80,000,000
190 Bowery, New York, NY 10012
Monumental Indiana limestone facade building on the northwest corner of Bowery and Spring Street.
Property Size42,000 SF
Price / SF$1,904
Days on Market95
Property Features for 190 Bowery
General Information
Standard status
Active
Size
42,000 SF
Property subtype
Other
Building Details
Building Size
42,000 SF
Listing Agency:
Avison Young
Listed By:
James Nelson · License #10301211302
(212) 729-6585
Source:
Commercialcafe
Added: Jul 15
Changed: Oct 9
Last Checked: Oct 16 at 6:21AM
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
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Investment Insights
Based on property information with market context.
190 Bowery is an iconic New York City landmark anchored by a monumental Indiana limestone façade, a copper-trimmed cornice, and a curved corner entrance. The property encompasses approximately 42,000 rentable square feet and is presented as an architecturally significant asset with stable in-place income.
Located on the highly visible northwest corner of Bowery and Spring Street in the heart of Nolita, 190 Bowery offers a prominent street-corner presence within Manhattan.
The building’s recognizable exterior and landmark status support multiple ownership and use directions, including maintaining it as an investment or repositioning it for alternative end uses.
Located on the highly visible northwest corner of Bowery and Spring Street in the heart of Nolita, 190 Bowery offers a prominent street-corner presence within Manhattan.
The building’s recognizable exterior and landmark status support multiple ownership and use directions, including maintaining it as an investment or repositioning it for alternative end uses.
Key Highlights
- Manhattan landmark building on the northwest corner of Bowery and Spring Street
- Approximately 42,000 rentable SF
- Monumental Indiana limestone facade
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,910,430
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$118,208,600
$118.2M
Cap Rate 7%
$84,434,714
$84.4M
Cap Rate 9%
$65,671,444
$65.7M
Market Conditions
NOI Build-Up for 42,000 SF
Gross rent
$9.90M $235.68/SF
− Vacancy
−$1.46M −$34.64/SF
EGI
$8.44M $201.04/SF
− OpEx
−$2.53M −$60.31/SF
NOI
$5.91M $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$118,208,600
Cap Rate 7%
$84,434,714
Cap Rate 9%
$65,671,444
Alternative Uses
Best Use
Retail
$84.43M
$73.88M – $98.51M
NOI $5,910,430 @ 7.0% cap · market cap 7.39%
Second Best
Office B
$18.79M
$16.44M – $21.92M
NOI $1,315,134 @ 7.0% cap · market cap 1.64%
Theoretical Best
Specialty Retail
$104.54M
$91.48M – $121.97M
NOI $7,318,080 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
31,707
Businesses Nearby
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Business Placement
Demographics for 10012, NY
23,125
Population
14,568
Households
1.6
Avg Household Size
35
Median Age
83%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
77,083
Density / Sq Mi
$130,938
Median Household Income
$88,301
Median Earnings
$2,731
Median Rent
$1,500,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Monumental Indiana limestone facade building on the northwest corner of Bowery and Spring Street.
Where is this office building located?
The property is located at 190 Bowery New York, NY.
What is the asking price?
The asking price for this property is $80,000,000.
What are key features of this property?
This property features: Manhattan landmark building on the northwest corner of Bowery and Spring Street; Approximately 42,000 rentable SF; Monumental Indiana limestone facade
