New Office Condominium
For Sale
Contact for pricing
7 Dey St, New York, NY 10007
New 2022 construction with virtually column-free floors, side-core layout, and on-site owner-controlled HVAC for multiple levels.
Property Size9,416 SF
Price / SF$495
Days on Market651
Property Features for 7 Dey St
General Information
Standard status
Active
Size
9,416 SF
Property subtype
OFFICE
Warehouse & Industrial
Heavy Power
Yes
Sprinkler System
Yes
Building Details
Year Built
2022
Listing Agency:
Rudder Property Group
(212) 966-3611
Listed By:
Michael Rudder · License #10491201687
(646) 483-2203
Source:
Moodyscre
Added: Dec 2, 2024
Changed: Sep 5
Last Checked: Sep 13 at 8:37AM
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 Rudder Property Group
Investment Insights
Based on property information with market context.
Built in 2022 and designed by FXCollaborative, this office condominium features a side core construction with virtually column-free floorplates. The building includes two passenger elevators served by a dedicated office entrance, plus fire/life safety systems with full sprinklers and a fire alarm system. Telecom and cable infrastructure is provided through voice/data horizontal cable pathways on each floor, with pathways back to the main equipment room. Three base floors are delivered as white-boxed space. Electrical service includes one 4,000 AMP, 208/120-volt electrical service with switchboards.
Ceiling heights include 13’ on the third and fourth floors and 18’ on the fifth floor. Third/fourth floors are supplied by a 17.5-ton owner-controlled HVAC unit, while the fifth floor is supplied by a 25-ton owner-controlled HVAC unit. The property notes a 100 LBS/SF floor load and provides an access control system for the lobby along with CCTV for entrances and common areas. The office lobby is described as dedicated, semi-private, attended, and served by a two-elevator core through the Dey Street entrance.
The offering also highlights potential to assemble a contiguous block of up to 28,000+ RSF, subject to availability and configuration.
Ceiling heights include 13’ on the third and fourth floors and 18’ on the fifth floor. Third/fourth floors are supplied by a 17.5-ton owner-controlled HVAC unit, while the fifth floor is supplied by a 25-ton owner-controlled HVAC unit. The property notes a 100 LBS/SF floor load and provides an access control system for the lobby along with CCTV for entrances and common areas. The office lobby is described as dedicated, semi-private, attended, and served by a two-elevator core through the Dey Street entrance.
The offering also highlights potential to assemble a contiguous block of up to 28,000+ RSF, subject to availability and configuration.
Key Highlights
- New construction completed in 2022, designed by FXCollaborative, with side‑core layout
- Virtually column‑free floors with 100 LBS/SF floor load and low‑profile interior layout
- Two passenger elevators served by a dedicated office entrance on Dey Street with a semi‑private, attended lobby
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
$294,840
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
6.33%
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%
$5,896,800
$5.9M
Cap Rate 7%
$4,212,000
$4.2M
Cap Rate 9%
$3,276,000
$3.3M
Market Conditions
NOI Build-Up for 9,416 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
$484.7K $51.48/SF
− Vacancy
−$91.6K −$9.73/SF
EGI
$393.1K $41.75/SF
− OpEx
−$98.3K −$10.44/SF
NOI
$294.8K $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%
$5,896,800
Cap Rate 7%
$4,212,000
Cap Rate 9%
$3,276,000
Alternative Uses
Best Use
Office B
$4.21M
$3.69M – $4.91M
NOI $294,840 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$23.44M
$20.51M – $27.34M
NOI $1,640,644 @ 7.0% cap · market cap 35.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
35,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 10007, NY
8,421
Population
3,711
Households
2.3
Avg Household Size
35
Median Age
86%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
42,105
Density / Sq Mi
$250,001
Median Household Income
$150,470
Median Earnings
$3,501
Median Rent
$2,000,001
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - New 2022 construction with virtually column-free floors, side-core layout, and on-site owner-controlled HVAC for multiple levels.
Where is this office units located?
The property is located at 7 Dey St New York, NY.
What is the asking price?
The asking price for this property is $4,660,920.
What are key features of this property?
This property features: New construction completed in 2022, designed by FXCollaborative, with side‑core layout; Virtually column‑free floors with 100 LBS/SF floor load and low‑profile interior layout; Two passenger elevators served by a dedicated office entrance on Dey Street with a semi‑private, attended lobby
