Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    187 Broadway New York, NY 10002-5537

    • Investment properties
    • 5,696 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    May 19, 2022
    $5,681,250
    Value Estimations
    $4,900,000
    Show details
    Cap Rate Potential
    3.7%
    Investment properties
    Location Intelligence
    Property ID
    US63-6068973
    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

    • Studio LES (Studioteria) / (Bike/Boat/Book/etc) Store / Photography Service
    • WellVue / Wellness Program
    • the art of kEith / Artist

    Property Details for 187 Broadway

    Year built
    1900
    Lot size
    0.04 lot acres
    Property size
    5,696 SF
    Zone code
    R7-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    00284-0017
    APU
    2840017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,845,000
      ML approach
      $4,840,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,440,000
      Market price range: $1.88M - $5.12M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,430,000
      Current use
      WAREHOUSE, STORAGE
      $4,655,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $4,165,000
      Change: +22% Conversion: Easy
      OFFICE BUILDING
      $3,640,000
      Change: +6% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,080,000
      Change: -10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9889
    Latitude
    40.714
    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
    $66,750
    $31,733
    $502,178
    $533,911
    -
    $240,000
    $3,798,000
    $4,038,000

    Comparable in this City

    • Value Estimation
      $880,000
      3,918 SF

      149 Rivington St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,918 SF
      149 Rivington St, New York, NY 10002-2418
      View Details
    • Value Estimation by Request
      1,403 SF

      517 Grand St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,403 SF
      517 Grand St, New York, NY 10002-4325
      View Details
    • Value Estimation
      $975,000
      4,428 SF

      85 Division St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,428 SF
      85 Division St, New York, NY 10002-6271
      View Details
    • Value Estimation
      $785,000
      3,546 SF

      293 Broome St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,546 SF
      293 Broome St, New York, NY 10002-3703
      View Details
    • Value Estimation
      $1,490,000
      6,820 SF

      95 Rivington St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,820 SF
      95 Rivington St, New York, NY 10002-5793
      View Details
    • Value Estimation
      $2,690,000
      7,749 SF

      24-28 Ludlow St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,749 SF
      24-28 Ludlow St, New York, NY 10002
      View Details

    Similar Nearby for Sale

    • $4,950,000
      0.05 Acres

      Mixed-Use Investment Opportunity, Brooklyn

      Mixed-use property with retail and residential units in prime location.
      195 Henry St, Brooklyn, NY 10002
      View Details
    • Contact for pricing
      16,312 SF

      Mixed-Use Corner Asset in Manhattan

      Mixed-use property with residential and commercial spaces in vibrant neighborhood.
      101 Delancey St, New York, NY 10002
      View Details
    • $7,499,000
      0.05 Acres

      Mixed-Use Property in Manhattan

      Mixed-use property featuring retail and residential units in Manhattan.
      51 Orchard St, Manhattan, NY 10002
      View Details
    • Contact for pricing
      4,200 SF

      339 Grand St a/k/a 57 Ludlow Street, New York, NY 10002

      Storefront properties • 4,200 SF
      339 Ludlow St, New York, NY 10002
      View Details
    • $7,499,000

      Mixed-Use Property With 14 Units

      Mixed-use property featuring retail and residential units in New York.
      51 Orchard St, New York, NY 10002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,437 SF

      Mixed-Use Building with Commercial Units

      Three-story mixed-use building with retail and residential units.
      280 Grand St, New York, NY 10002
      View Details
    • $124 SF/Yr
      1,500 SF

      LES Retail Space: Stanton Street

      Prime Lower East Side retail space available.
      on the LES Retail Spc On Stanton St, New York, NY 10002
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in New York, NY.
      125 Madison St, New York, NY 10002
      View Details
    • Contact for pricing

      Ludlow Street Restaurant Space

      Restaurant space available on high-traffic Ludlow Street.
      153 Ludlow St, New York, NY 10002
      View Details
    • Contact for pricing

      Lower East Side Bar Venue

      Turnkey bar and live music venue in prime location.
      196 Allen St, New York, NY 10002
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in New York, NY.
      14 Clinton St, New York, NY 10002
      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.
    187 Broadway
    New York, NY 10002-5537
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!