Creative Loft
For Sale
$1,799,000
450 W 31st Street 2N, New York City, NY 10001
Light-filled commercial coop loft with exposed brick, concrete floors, central air, and an open-concept layout.
Property Size2,700 SF
Price / SF$691.92
Days on Market412
Property Features for 450 W 31st Street 2N
General Information
Standard status
Active
Size
2,700 SF
Elevators
Yes
Property subtype
Multi Family
Additional Details
Floor
2
HOA Fee
$4,870
Public Transit
Yes
Sprinkler System
Yes
Office Units
15
Amenities
loading dock
24/7 access
attended lobby
private basement storage
renovated lobby
Building Details
Building Size
2,700 SF
Year Built
1918
Buildings
1
Stories
12
Construction
loft
Tenancy
Multi
Abandoned
No
Listing Agency:
Howard Hanna NYC
Listed By:
JUDITH R HARVEST
(212) 960-3100
Source:
Howardhannanyc
Added: Sep 15, 2025
Changed: Oct 25
Last Checked: Oct 28 at 2:55PM
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 Howard Hanna NYC
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Investment Insights
Based on property information with market context.
Located at 450 W 31st Street in Manhattan’s Hudson Yards neighborhood, this 2,600-square-foot commercial cooperative loft occupies the second floor of a 12-story building constructed in 1918. The unit features 11-foot ceilings, a full wall of oversized windows, concrete floors, exposed brick walls, track lighting, a sprinkler system, and central air conditioning. Its open-concept layout includes archiving and storage areas, display walls, a separate office, and a kitchenette. A private basement storage area is included.
The building offers 24/7 access, a part-time attended lobby, two elevators, a loading dock, a common hallway, and a shared bathroom facility. Recent capital improvements include two new large elevators and a renovated lobby. The property is near the High Line, Hudson River Park, The Shed, Penn Station, Port Authority, and multiple subway lines, including the #7, A, C, E, 1, 2, and 3 trains.
The building offers 24/7 access, a part-time attended lobby, two elevators, a loading dock, a common hallway, and a shared bathroom facility. Recent capital improvements include two new large elevators and a renovated lobby. The property is near the High Line, Hudson River Park, The Shed, Penn Station, Port Authority, and multiple subway lines, including the #7, A, C, E, 1, 2, and 3 trains.
Key Highlights
- 2,600‑square‑foot commercial cooperative loft in Hudson Yards
- 11‑foot ceilings and a full wall of oversized windows
- Open‑concept layout with display walls, storage areas, office, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,413
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,260
$1.6M
Cap Rate 7%
$1,163,043
$1.2M
Cap Rate 9%
$904,589
$904.6K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$133.8K $51.48/SF
− Vacancy
−$25.3K −$9.73/SF
EGI
$108.6K $41.75/SF
− OpEx
−$27.1K −$10.44/SF
NOI
$81.4K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,260
Cap Rate 7%
$1,163,043
Cap Rate 9%
$904,589
Alternative Uses
Best Use
Office B
$1.16M
$1.02M – $1.36M
NOI $81,413 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.47M
$5.66M – $7.55M
NOI $453,024 @ 7.0% cap · market cap 25.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
15
Office units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
35,411
Businesses Nearby
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Business Placement
Demographics for 10001, NY
32,612
Population
17,554
Households
1.9
Avg Household Size
35
Median Age
72%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
54,353
Density / Sq Mi
$123,393
Median Household Income
$97,848
Median Earnings
$3,024
Median Rent
$793,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Creative space - Light-filled commercial coop loft with exposed brick, concrete floors, central air, and an open-concept layout.
Where is this creative space located?
The property is located at 450 W 31st Street 2N New York City, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 2,600‑square‑foot commercial cooperative loft in Hudson Yards; 11‑foot ceilings and a full wall of oversized windows; Open‑concept layout with display walls, storage areas, office, and kitchenette
