Whole-Floor Office
For Sale
$2,105,600
89 Bowery, New York, NY 10002
The eighth-floor commercial condominium unit includes central air and supports professional office use.
Property Size2,632 SF
Price / SF$800
Days on Market14
Property Features for 89 Bowery
General Information
Standard status
Active
Size
2,632 SF
Property subtype
Office
Additional Details
Floor
8
Taxes and HOA fees
Annual Taxes
$39,710
Amenities
Central Air
3
Building Details
Year Built
2014
Buildings
1
Stories
9
Listing Agency:
(516) 990-8888
Listed By:
United Real Estate Fortune
(516) 990-8888
Source:
Xome
Added: Aug 7
Changed: Aug 17
Last Checked: Aug 20 at 4:27AM
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 United Real Estate Fortune
Investment Insights
Based on property information with market context.
This 2,632-square-foot office unit occupies the entire eighth floor at 89 Bowery in Downtown Manhattan. The commercial condominium is positioned for professional office use and includes central air conditioning.
Completed in 2014, the building is a modern nine-story condominium. The property is located on Bowery near the Lower East Side, SoHo, and the Manhattan Bridge, with access to surrounding dining, shopping, business destinations, and major transportation.
Completed in 2014, the building is a modern nine-story condominium. The property is located on Bowery near the Lower East Side, SoHo, and the Manhattan Bridge, with access to surrounding dining, shopping, business destinations, and major transportation.
Key Highlights
- 2,632‑square‑foot whole‑floor office unit
- Eighth‑floor position at 89 Bowery
- Central air conditioning
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
$84,346
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
4.01%
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%
$1,686,920
$1.7M
Cap Rate 7%
$1,204,943
$1.2M
Cap Rate 9%
$937,178
$937.2K
Market Conditions
NOI Build-Up for 2,632 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
$135.5K $51.48/SF
− Vacancy
−$23.0K −$8.75/SF
EGI
$112.5K $42.73/SF
− OpEx
−$28.1K −$10.68/SF
NOI
$84.3K $32.05/SF
Area
ZIP 10002
Vacancy
17.00%
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%
$1,686,920
Cap Rate 7%
$1,204,943
Cap Rate 9%
$937,178
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.41M
NOI $84,346 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.55M
$5.73M – $7.64M
NOI $458,600 @ 7.0% cap · market cap 21.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30,870
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
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 units - The eighth-floor commercial condominium unit includes central air and supports professional office use.
Where is this office units located?
The property is located at 89 Bowery New York, NY.
What is the asking price?
The asking price for this property is $2,105,600.
What are key features of this property?
This property features: 2,632‑square‑foot whole‑floor office unit; Eighth‑floor position at 89 Bowery; Central air conditioning
