Office Condominium with Retail
For Sale
$155,000
7 Chatham Square #7 New York, New York, NY 10038
Flexible unit suited to professional office or retail occupancy within a building containing office and retail spaces.
Property Size154 SF
Days on Market301
Property Features for 7 Chatham Square #7 New York
General Information
Standard status
Active
Size
154 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,789
Building Details
Building Size
154 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
CPRE Elite Inc
(917) 705-7063
Listed By:
Xiaoyan He
(917) 705-7063
Source:
Cohenandcohenrealty
Added: Oct 18, 2025
Changed: Aug 14
Last Checked: Aug 14 at 2:31AM
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 CPRE Elite Inc
Investment Insights
Based on property information with market context.
This office condominium at 7 Chatham Square #7 offers two stated use options: professional office occupancy or retail operation. The unit is part of a building that includes both office and retail spaces, supporting a range of commercial configurations.
The property is located in Chatham Square in Chinatown, New York, near subway and bus lines. It is one of three commercial condominium units identified for sale in the same property, with C5, C6, and C7 referenced as the three units. The building dates to 1920.
The property is located in Chatham Square in Chinatown, New York, near subway and bus lines. It is one of three commercial condominium units identified for sale in the same property, with C5, C6, and C7 referenced as the three units. The building dates to 1920.
Key Highlights
- Office condominium at 7 Chatham Square #7
- Suitable for professional office or retail use
- Located in a building with office and retail units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$4,822
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$96,440
$96.4K
Cap Rate 7%
$68,886
$68.9K
Cap Rate 9%
$53,578
$53.6K
Market Conditions
NOI Build-Up for 154 SF
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.
Gross rent
$7.9K $51.48/SF
− Vacancy
−$1.5K −$9.73/SF
EGI
$6.4K $41.75/SF
− OpEx
−$1.6K −$10.44/SF
NOI
$4.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$96,440
Cap Rate 7%
$68,886
Cap Rate 9%
$53,578
Alternative Uses
Best Use
Retail
$309.6K
$270.9K – $361.2K
NOI $21,672 @ 7.0% cap · market cap 13.98%
Second Best
Office B
$68.9K
$60.3K – $80.4K
NOI $4,822 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$383.3K
$335.4K – $447.2K
NOI $26,833 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
37,693
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
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?
Office units - Flexible unit suited to professional office or retail occupancy within a building containing office and retail spaces.
Where is this office units located?
The property is located at 7 Chatham Square #7 New York New York, NY.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Office condominium at 7 Chatham Square #7; Suitable for professional office or retail use; Located in a building with office and retail units
