Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31 Spencer St Brooklyn, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    New professional office building in prime Williamsburg location.

    Type:OFFICE
    Property size:
    571 SF
    Lot size:
    0.23 Acres
    Added:
    Sep 8, 2025
    Days on Market:
    206
    Last Refresh:
    Mar 29 at 8:28 pm

    Property Features for 31 Spencer St

    General Information

    Standard status
    Active
    Size
    571 SF
    Lot size
    0.23 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 31 Spencer St Contact us

    We can help!

    Listing Contact
    Yossi Zicherman

    Listing agent Yossi Zicherman

    Listing office Workplace Realty

    Listing date Sep 8, 2025

    Source Moodyscre

    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 Workplace Realty

    Overview

    New Williamsburg Professional Office Space

    The Spencer Tower is a new professional office building situated in a prime Williamsburg location. The property features a high-end roof deck that offers views of city skylines, bridges, the Statue of Liberty, Freedom Tower, the Empire State Building, and more. The building includes high ceilings, two passenger elevators, and two staircases. Concrete floors are present throughout the space. The front and rear facades incorporate a glass window wall system. Doorman and card access options are available. A Shul and Cafeteria are located on the premises. Verizon Fios mains are installed to each level, and a city multi-condenser and piping system extends to each floor. Parking is available on the premises for occupants and visitors. The property offers 571 square feet of office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Headway Services Daycare Center Silk bar Skin Care Clinic Appel Markowitz LLP Law Firm spencer lobby Grocery & Convenience Store Joseph Neuwirth, CPA Accounting Firm

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9554
    Latitude
    40.6973

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Commercial Space in Brooklyn

      Expansive 2,700 SF commercial space in Greenwood Heights.
      663 3rd Avenue, Brooklyn, NY 11232
      View Details
    • Contact for pricing

      Midwood Medical Office Space Available

      Medical office space for rent in the heart of Midwood.
      2000 Kings Highway, Brooklyn, NY 11229
      View Details
    • Contact for pricing

      Corner Medical Office with Parking

      Prime 2,000 SF medical office space for lease.
      7206 7th Avenue, Brooklyn, NY 11209
      View Details
    • Contact for pricing

      Versatile Commercial Space with Backyard

      Ground floor space with basement and backyard in Brooklyn.
      2372 McDonald Avenue, Brooklyn, NY 11223
      View Details
    • Contact for pricing

      Turn-Key Dental Office in Brooklyn

      Fully equipped dental office with existing business in Bay Ridge.
      14 Bay Ridge Place, Brooklyn, NY 11209
      View Details
    • Contact for pricing

      Functional Medical Office in Brooklyn

      Prime medical office space in a highly visible Brooklyn location.
      364 97th Street, Brooklyn, NY 11209
      View Details
    • Contact for pricing

      Brooklyn Office Space For Lease

      6,000 SF office space in Sunset Park, Brooklyn.
      813 63rd Street, Brooklyn, NY 11220
      View Details
    • $39,000/mo

      Prime Bensonhurst Commercial Space Available

      Massive commercial space in high-traffic area with flexible layout.
      1857 86th Street, Brooklyn, NY 11214
      View Details
    • Contact for pricing

      Renovated Office Space in Brooklyn

      1200 sq ft office space for rent in Brooklyn.
      2312 Coney Island Avenue, Brooklyn, NY 11223
      View Details
    • Contact for pricing

      Professional Office Space in Brooklyn

      High-end, ready-to-move-in office space near Kings Highway.
      1718 E 17th Street unit: First Floor, Brooklyn, NY 11229
      View Details
    • Contact for pricing

      Brooklyn Medical Office For Rent

      Medical office in Marine Park, also suitable for other office uses.
      2216 Kimball Street, Brooklyn, NY 11234
      View Details
    • Contact for pricing

      Renovated Office Space in Brooklyn

      Renovated 2600 sq ft office suitable for various uses.
      1046 East 15th Street, Brooklyn, NY 11230
      View Details

    FAQs

    What type of property is this?
    Office building - New professional office building in prime Williamsburg location.
    Where is this office building located?
    The property is located at 31 Spencer St Brooklyn, NY.
    What are key features of this property?
    This property features: Prime Williamsburg Location in the Spencer Tower; Magnificent views of City Skylines, Bridges, Statue of Liberty, Freedom Tower, and Empire State Building from a high‑end roof deck; On‑premise Shul & Cafeteria
    (646) 461-4000
    We can help!
    Listing Contact
    Yossi Zicherman
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!