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    West Village Redevelopment Opportunity Title is generated by Realmo AI

    32 Jane St, New York, NY 10014

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    Four-story building in prime West Village with redevelopment potential.

    Type:Mixed Use
    Property size:
    4,700 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $1,170/SF
    Added:
    Feb 10, 2026
    Days on Market:
    90
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 32 Jane St

    General Information

    Standard status
    Active
    Size
    4,700 SF
    Lot size
    0.03 Acres
    Property subtype
    Mixed Use

    We can help!

    Listing Contact
    Greg Corbin

    Listing agent Greg Corbin License #40CO1129253

    Listing office Northgate Real Estate Group

    Listing date Feb 10, 2026

    Source Crexi

    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 Northgate Real Estate Group

    HighLights

    • Prime West Village location on Jane Street
    • Two redevelopment strategies: luxury single‑family townhouse conversion (with previously LPC‑approved plans) or market‑rate multifamily asset renovation
    • Spacious backyard
    • Excellent transit access to multiple subway lines (A, C, E, L, 1, 2, 3, F, M, Path)
    • 4,700 GSF building on a 20 ft x 67 ft lot with 20 ft of frontage
    • Within the Greenwich Village Historic District and close to upscale amenities

    Overview

    This four-story building is located on Jane Street in the West Village. It offers two redevelopment strategies: conversion to a luxury single-family townhouse, with previously LPC-approved conversion plans featuring integrated bi-level outdoor living, or renovation and operation as a market rate multifamily asset. The building has 4,700 gross square feet and sits on a 20 ft x 67 ft lot, with 20 feet of frontage along Jane Street. It also features a spacious backyard. The property is located within the Greenwich Village Historic District and is in close proximity to upscale restaurants, boutique retail, and curated shopping destinations such as Fedora, Fairfax, L’Industrie, Semma, and Sant Auction. Excellent transit access is available, with a short walk to the 14th St/8th Ave station (A, C, E, L), 14th St (at 7th Ave) station (1, 2, 3), and 14th St (at 6th Ave) station (F, M, L, Path). Bids must be submitted by Monday, March 23rd, 2026 by 5:00 PM EST. The auction will be held on Wednesday, March 25th, 2026 at 3:00 PM EST. The sale is subject to bankruptcy court approval.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store 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
    -74.003547
    Latitude
    40.737977

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    FAQs

    What type of property is this?
    Mixed-use property - Four-story building in prime West Village with redevelopment potential.
    Where is this mixed-use property located?
    The property is located at 32 Jane St New York, NY.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Prime West Village location on Jane Street; Two redevelopment strategies: luxury single‑family townhouse conversion (with previously LPC‑approved plans) or market‑rate multifamily asset renovation; Spacious backyard
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Greg Corbin
    Real Estate License ID: 40CO1129253
    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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