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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    135 Reade St New York, NY 10013

    • Investment properties
    • 4,761 SF
    • 0.04 lot acres
    For Sale
    View listing
    $6,995,000
    Last Sale
    May 25, 2021
    $4,650,000
    Value Estimations
    Cap Rate Potential
    3.1%
    Investment properties
    Location Intelligence
    Property ID
    US63-1734902
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bar 135 / Bar

    Property Details for 135 Reade St

    Year built
    1920
    Lot size
    0.04 lot acres
    Property size
    4,761 SF
    Zone code
    C63A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    00140-0029
    APU
    1400029

    Description

    This exceptional mixed-use property in the heart of Tribeca offers a compelling investment opportunity. The 5,450 square foot building comprises four units: three residential apartments and one ground floor retail space. The residential units include a newly renovated five-bedroom, four-bathroom duplex with a private roof deck, a two-bedroom, one-bathroom unit (convertible to three bedrooms), and a one-bedroom apartment. The ground floor retail space is occupied by Reade Street Pub under a new 10-year lease, ensuring stable and increasing cash flow. This fully occupied building benefits from a prime Tribeca location, convenient access to public transportation, and tax-class protection. The property presents a rare chance to acquire a 100% free-market, mixed-use asset with strong in-place cash flow and significant upside potential. The asking price is $7,500,000, translating to $1,376.15 per square foot. This investment offers a unique blend of residential and commercial income streams in one of New York City's most desirable neighborhoods. The building's strong tenant base and long-term lease contribute to its financial stability and attractiveness to discerning investors seeking a secure and profitable venture. This is a truly exceptional opportunity to own a piece of Tribeca's vibrant real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,945,000
      ML approach
      $5,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,260,000
      Market price range: $1.91M - $5.54M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,925,000
      Current use
      RETAIL STORES
      $6,200,000
      Change: +58% Conversion: Easy
      OFFICE BUILDING
      $4,190,000
      Change: +7% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,890,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0098
    Latitude
    40.7162
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $77,773
    $227,200
    $394,881
    $622,081
    -
    $1,546,000
    $2,687,000
    $4,233,000

    Comparable in this City

    • Value Estimation
      $665,000
      2,733 SF

      181 Grand St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,733 SF
      181 Grand St, New York, NY 10013-3734
      View Details
    • Value Estimation
      $850,000
      3,468 SF

      327 Canal St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,468 SF
      327 Canal St, New York, NY 10013-2513
      View Details
    • Value Estimation
      $23,000,000
      5,776 SF

      452 Greenwich St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,776 SF
      452 Greenwich St, New York, NY 10013-1710
      View Details
    • Value Estimation
      $3,200,000
      11,944 SF

      208 Ctr St

      OFFICE/RESIDENTIAL (MIXED USE) • 11,944 SF
      208 Ctr St, New York, NY 10013-3629
      View Details
    • Value Estimation
      $9,295,000
      23,161 SF

      50 Howard St

      OFFICE/RESIDENTIAL (MIXED USE) • 23,161 SF
      50 Howard St, New York, NY 10013-2514
      View Details
    • Value Estimation
      $6,920,000
      4,440 SF

      282 Hudson St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,440 SF
      282 Hudson St, New York, NY 10013-1401
      View Details

    Similar Nearby for Sale

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      West Soho Live-Work Space

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    • $14,000,000
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      Chinatown Commercial Corner Building

      Prime Chinatown location with approved plans for commercial and residential use.
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    • $6,995,000
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      TriBeCa Mixed-Use Investment Opportunity

      Mixed-use property in prime TriBeCa location with strong cash flow.
      135 Reade St, New York, NY 10013
      View Details
    • Contact for pricing
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      SoHo Mixed-Use Conversion Opportunity

      Five-story mixed-use building in SoHo with conversion potential.
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    Similar Nearby for Lease

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      5,832 SF Four Bedroom Penthouse For Lease

      5,832 SF Four Bedroom Penthouse For Lease
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      Tribeca Executive Office Suites

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      View Details
    • Contact for pricing
      1,350 SF

      Prime NYC Retail Space - Hester St

      1,350 SF Retail Space - New York City
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      View Details
    • Contact for pricing
      7,000 SF

      Greenwich Street Retail Space

      Prime NYC Retail Opportunity: 7,000 SF Available
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    • $60 SF/Yr
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      Tribeca Loft Office Space for Lease

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      View Details
    • $50 SF/Yr
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      Prime NYC Office Space Available

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      View Details
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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
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