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Garment District Office/Retail Opportunity
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203 W 38th St, New York, NY 10018

Office and retail spaces available in the Garment District.

Space Size2,009 SF - 4,018 SF
Property Size22,143 SF
Days on Market809

Property Features for 203 W 38th St

General Information

Standard status Active
Size 2,009 SF - 4,018 SF
Property subtype Retail, Office
Lease Type Modified Gross

Building Details

Building Size 22,143 SF
Year Built 2021
Tenancy Multiple

Spaces For Lease

at 203 W 38th St Contact us

2nd Floor

Size
4,018 SF
Type
Office, Retail
Lease Type
Modified Gross
Availability
Active
Contact us

2nd Floor Half

Size
2,009 SF
Type
Office, Retail
Lease Type
Modified Gross
Availability
Active
Contact us
Listing Agency: Reqce Commercial
Listed By: Sam Hamway · License #10991238307
Source: Crexi
Added: Jun 4, 2024 Changed: Aug 9 Last Checked: Aug 21 at 3:58PM

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 Reqce Commercial

Investment Insights

Based on property information with market context.

This property offers a full building opportunity with office and retail spaces available. It comprises two adjoined buildings where spaces can be combined to offer 4,018 square feet on each floor, or leased separately at 2,009 square feet. The full building opportunity includes an outdoor rooftop deck, a private bathroom, and elevator access throughout the building. It is located just off the corner of 7th Avenue (Fashion Avenue) in the Garment District. The space is brand new shell space. The property is within walking distance to the 1, 2, 3, 7, N, Q, R & W subway lines, as well as numerous buses, restaurants, bars, and activities in the area.

Key Highlights

  • Full building opportunity with flexible space configurations (4,018 SF or 2,009 SF per floor).
  • Prime location in the Garment District, just off 7th Avenue (Fashion Avenue).
  • Outdoor rooftop deck included.

Property Analytics

Current Use

Present Health Insurance Insurance Agency Apple Fashion Inc Clothing Store Nyc Management & Consulting Business Management Consultant

Suggested Use

Top Pick Butcher (Bike/Boat/Book/etc) Store Pet Grooming Service Buffet Locksmith Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type
$7.20 /SF/Yr
CAM

Location Intelligence

Trade Area within ½ mile

68,823
Businesses Nearby

Demographics for 10018, NY

11,145
Population
5,678
Households
2
Avg Household Size
35
Median Age
75%
College-Educated
92%
High-School Grad
0.3 sq mi
ZIP Area
37,150
Density / Sq Mi
$133,042
Median Household Income
$103,655
Median Earnings
$3,501
Median Rent
$947,100
Median Home Value

Market

Lease Benchmarks for New York, NY

$65.36 /SF/Yr
Avg Asking Price
$37–$165 /SF/Yr
Price Range
40,991 SF
Avg Space Size

This space is priced 27% below the average of $65.36 /SF/Yr.

Vacancy Rate% for Office in Northeast region

13.1% 2019
15.4% 2020
17.6% 2021
19.1% 2022
20.2% 2023
20.9% 2024
19.9% 2025
Rey
Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Office building - Office and retail spaces available in the Garment District.
Where is this office building located?
The property is located at 203 W 38th St New York, NY.
What is the lease rate?
The lease rate is $48 SF/Yr.
What are key features of this property?
This property features: Full building opportunity with flexible space configurations (4,018 SF or 2,009 SF per floor).; Prime location in the Garment District, just off 7th Avenue (Fashion Avenue).; Outdoor rooftop deck included.
More about this property
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