Property profile

14 Vesey St New York, NY 10007

OFF-MARKET
Office buildings
Property ID
US63-1917680
30,000 SF 0.17 ac lot Built 1930
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents 14 Vesey Street, a landmark five-story building in Manhattan's Financial District. Boasting approximately 33,819 square feet of gross above-grade space, this architecturally significant property, formerly the New York County Lawyers' Association Building, offers a substantial value-add potential. The building features varying ceiling heights ranging from 10 to 19 feet, providing flexibility for diverse uses. Zoned C5-3 and LM, it allows for versatile redevelopment options. Situated on a 7,583 square foot lot, the property also includes significant air rights totaling 79,926 square feet. Its prime location offers unparalleled access to multiple subway lines (A, C, J, Z, 2, 3, 4, and 5), and proximity to the World Trade Center ensures excellent connectivity and commercial vibrancy. Constructed in 1929, 14 Vesey Street represents a unique blend of historical significance, architectural beauty, and substantial development potential. The asking price is $35,000,000, translating to approximately $1,034.92 per square foot. This presents a rare chance to acquire a piece of Manhattan history with significant upside potential in a highly desirable location. The property is ideal for an owner/user seeking a unique and prestigious headquarters or a developer looking to capitalize on its significant air rights and versatile zoning.

Property profile

Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 1930
Total area 30,000 SF
Lot 0.17 ac (7,583 SF)
Zoning code C5-3
APN 00088-0002
UPID US63-1917680

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

14 Vesey St New York, NY 10007-2906
New York metro Census 2100 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$15.42M
Comparable Approach Comparable
$17.08M
Blend (final) Blend
$19.10M

Owner & transaction history

since 2021
Last sale
$19.0M
7 recorded transactions
2022
Price N/A
2021
$19.0M
2021
Price N/A
2020
Price N/A
2020
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C5-3 · New York, NY
Top alternative use upside
Warehouse, storage $24.5M +27.9%
Commercial (general) $21.7M +13.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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