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    168 Canal St New York, NY 10013

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    For Lease
    Contact for pricing

    3,290 SF Available in Historic Building

    Lot size:
    50,000 SF

    Property Features for 168 Canal St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    50,000 SF

    Building Details

    Year Built/Renovated
    1894/2013
    Stories
    6

    Spaces For Lease

    at 168 Canal St, New York, NY 10013 Contact us

    We can help!

    Listing Contact
    Alexander N Bermingham
    Alexander N Bermingham

    Listing Agency: George Comfort & Sons, Inc. Listing Agent: Alexander N Bermingham

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    168 Canal Street offers a unique opportunity to lease 3,290 square feet of executive office space in a landmark building. Located in New York County's vibrant Chinatown, this six-story property boasts 50,000 total square feet and features a strong existing tenant base. Built in 1894 and extensively renovated in 2013, the building offers modern amenities including modernized elevators and on-site management. The space features impressive 11-foot ceilings, providing a spacious and comfortable work environment. Flexible floorplates, ranging from 3,416 to 8,522 square feet, allow for customization to suit various business needs. This prime location offers unparalleled accessibility, situated within seven blocks of multiple subway lines (J, Z, N, Q, R, W, B, D, and 6) and just two blocks from the Manhattan Bridge, providing easy access to Downtown Brooklyn. This is an exceptional opportunity to establish a presence in a highly desirable and well-connected area of Manhattan. The available space presents a chance to secure a prominent location within a building that seamlessly blends historical charm with modern functionality. The building's strong tenant base and convenient location make it an ideal choice for businesses seeking a prestigious address in a thriving neighborhood.
    Property Profile Location Intelligence

    Current Use by Public Records

    Barst Mukamal & Kleiner ... Law Firm Dr. Benjamin C. ... Physician Paper Tiger Television Television Studio SunMelody.com Theater & Performing Art Venue War Resisters League Charitable Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9973439
    Latitude
    40.7163285

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    FAQs

    What type of property is this?
    Office property - 3,290 SF Available in Historic Building
    Where is this office property located?
    The property is located at 168 Canal St New York, NY.
    What are key features of this property?
    This property features: Office space for lease: 3,290 square feet in a landmark building.; 1894 building, extensively renovated in 2013.; 50,000 square foot building with six floors.
    (212) 481-1122 Call to check price and availability
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    168 Canal St New York, NY 10013
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    New York, NY 10013
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    168 Canal St New York, NY 10013
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    Contact for Pricing
    Please call us for current price
    and status of this listing Alexander N Bermingham
    Alexander N Bermingham
    (212) 481-1122 (212) 542-2189
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