Creative Loft
For Sale
$1,850,000
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 Size2,600 SF
Price / SF$711.54
Days on Market321
Property Features for 450 W 31st Street 2N
General Information
Standard status
Active
Size
2,600 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
2,600 SF
Year Built
1918
Buildings
1
Stories
12
Construction
loft
Tenancy
Multi
Abandoned
No
Listing Agency:
Howard Hanna NYC
(212) 960-3100
Listed By:
JUDITH R HARVEST
(212) 960-3100
Source:
Cbwarburg
Added: Sep 15, 2025
Changed: Jul 31
Last Checked: Jul 31 at 4:44PM
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
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.8k | $51.48 |
| − Vacancy | −$25.3k | −$9.73 |
| EGI | $108.6k | $41.75 |
| − OpEx | −$27.1k | −$10.44 |
| NOI | $81.4k | $31.31 |
2,600 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.16M
$1.02M – $1.36M
NOI $81,413 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.47M
$5.66M – $7.55M
NOI $453,024 @ 7.0% cap · market cap 24.49%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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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 $1,850,000.
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
