Mixed-Use Ground Lease
For Sale
Contact for pricing
598 Broadway 132 Crosby Street, New York, NY 10012
Ninety-nine-year ground lease for a 12-story, 1898 mixed-use building with two entrances and freight/sidewalk elevator.
Property SizeContact for details
Days on Market121
Property Features for 598 Broadway 132 Crosby Street
General Information
Standard status
Active
Property subtype
Retail, Office
Listing Agency:
Cushman & Wakefield New York
(212) 660-7743
Listed By:
Michael Gembecki · License #NY 10401227340
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 21 at 12:22AM
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 Cushman & Wakefield New York
Investment Insights
Based on property information with market context.
Cushman & Wakefield has been exclusively retained by ownership to arrange a new 99-year ground lease for the mixed-use property at 598 Broadway (132 Crosby Street). Built in 1898, the offering features approximately 88,000 rentable square feet of office, residential, retail, and storage space across 12 stories plus the lower level. The building has two entrances with a block-through connection from Broadway to Crosby Street, along with two passenger elevators and a freight/sidewalk elevator.
The property is located along one of Manhattan’s most premier retail and office corridors. The building is currently 92% leased, with a weighted average lease term of 4.79 years, providing an in-place income profile tied to the existing tenant leasing.
The configuration includes meaningful vertical circulation capacity for both passenger use and freight/service movement, supporting a building layout that combines multiple uses within a historic, multi-story structure.
The property is located along one of Manhattan’s most premier retail and office corridors. The building is currently 92% leased, with a weighted average lease term of 4.79 years, providing an in-place income profile tied to the existing tenant leasing.
The configuration includes meaningful vertical circulation capacity for both passenger use and freight/service movement, supporting a building layout that combines multiple uses within a historic, multi-story structure.
Key Highlights
- New 99‑year ground lease for the mixed‑use property at 598 Broadway (132 Crosby Street)
- Approximately 88,000 rentable SF across 12 stories plus a lower level for office, residential, retail, and storage space
- Currently 92% leased with a weighted average lease term of 4.79 years
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
34,283
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Ninety-nine-year ground lease for a 12-story, 1898 mixed-use building with two entrances and freight/sidewalk elevator.
Where is this office building located?
The property is located at 598 Broadway 132 Crosby Street New York, NY.
What are key features of this property?
This property features: New 99‑year ground lease for the mixed‑use property at 598 Broadway (132 Crosby Street); Approximately 88,000 rentable SF across 12 stories plus a lower level for office, residential, retail, and storage space; Currently 92% leased with a weighted average lease term of 4.79 years
