Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    62 Gansevoort St New York, NY 10014
    Back to Search
    Property profile & analytics

    62 Gansevoort St New York, NY 10014

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Belstaff / Clothing Store
    • Ocean Size Pictures / (Bike/Boat/Book/etc) Store / Home Decor Store

    Property Details for 62 Gansevoort St

    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional turn-key nightclub, located at 62 Gansevoort Street in New York City's vibrant Meatpacking District (zip code 10014), presents a unique investment opportunity. Spanning 7,000 square feet across two stories, this fully operational venue boasts a high ceiling and a substantial capacity of 300 patrons. The property features a professionally equipped stage with a complete lighting system, ensuring a dynamic and engaging atmosphere for any event. A fully vented kitchen is included, allowing for diverse operational possibilities beyond just beverage service. The space's history as a former dance club speaks to its inherent suitability for this purpose. Six bathrooms cater to the venue's capacity, and comprehensive security systems are in place for peace of mind. The building enjoys prominent street presence with a 45-foot frontage on Gansevoort Street. The current asking rent is $70,000 per month

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    Saratoga
    State
    New York
    Longitude
    -74.0073
    Latitude
    40.7392

    Comparable in this City

    • Value Estimation by Request

      85 7Th Ave

      Restaurants
      85 7Th Ave, New York, NY 10014
      View Details
    • Value Estimation by Request

      12Th St

      Restaurants
      0 12Th St, New York, NY 10014
      View Details
    • Value Estimation by Request

      85 7Th Ave

      Restaurants
      85 7Th Ave, New York, NY 10014
      View Details
    • Value Estimation by Request

      410 14Th St

      Restaurants
      410 14Th St, New York, NY 10014
      View Details
    • Value Estimation by Request

      409 14Th St

      Restaurants
      409 14Th St, New York, NY 10014
      View Details
    • Value Estimation by Request
      4,800 SF

      401 6Th Ave

      Restaurants • 4,800 SF
      401 6Th Ave, New York, NY 10014
      View Details

    Similar Nearby for Sale

    • $5,400,000
      2,390 SF

      West Village Mixed-Use Gem

      Prime West Village location, owner-user opportunity.
      15 8Th Ave, New York, NY 10014
      View Details
    • Contact for pricing
      2,850 SF

      West Village Retail Co-op

      2,000 SF ground-floor space with 850 SF basement.
      9 Jones St, New York, NY 10014
      View Details
    • Contact for pricing
      8,000 SF

      Greenwich Village Retail Space Available

      Prime retail space with frontage in Greenwich Village, New York.
      708 Greenwich St, New York, NY 10014
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in New York, NY.
      423 W 13Th St, New York, NY 10014
      View Details
    • Contact for pricing
      1,600 SF

      Greenwich Village Restaurant Space Available

      Vented, fully built-out restaurant space in Greenwich Village.
      401 6Th Ave, New York, NY 10014
      View Details
    • $130 SF/Yr
      10,000 SF

      Meatpacking District Venue - 10,000 SF

      Prime Meatpacking District event space. High ceilings, large capacity.
      0 New York Ny, New York, NY 10014
      View Details
    • Contact for pricing
      2,580 SF

      West Village Commercial Lot

      Prime West Village Venue: Indoor/Outdoor
      685 Washington St, New York, NY 10014
      View Details
    • Contact for pricing

      West Village Restaurant/Venue Space

      9,000 SF restaurant/venue space in prime West Village location.
      85 7Th Ave S, New York, NY 10014
      View Details
    • Contact for pricing

      West Village Commercial Space Available

      Newly constructed commercial space in West Village with storefront.
      159 West 4Th St, New York, NY 10014
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 Gansevoort St
    New York, NY 10014
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    62 Gansevoort St, New York, NY, 10014
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!