Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    375 Pearl St New York, NY 10038

    • Flex space
    • 241,907 SF
    • 0.96 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3966566
    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

    • DATAGRAM / Telecommunications Service / Data Center
    • Matthew Adam Properties Inc / Property Management Company / Financial Consultant
    • Verizon Building / Tour Operator
    • Starbucks / Cafe & Coffee Shop
    • Rafael Viñoly Architects / Architecture Firm

    Property Details for 375 Pearl St

    Year built
    1912
    Lot size
    0.96 lot acres
    Property size
    241,907 SF
    Zone code
    C6-4
    Property type
    Flex space
    APN
    00113-1001
    APU
    1131001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0012
    Latitude
    40.7109
    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
    $2,256,267
    $4,715,231
    $16,586,380
    $21,301,611
    -
    $10,478,292
    $41,894,000
    $52,372,292

    Comparable in this City

    • Value Estimation by Request
      418,995 SF

      375 Pearl St Fl, Unit 2

      LIGHT INDUSTRIAL • 418,995 SF
      375 Pearl St Fl, New York, NY 10038-1440
      View Details
    • Value Estimation
      $4,610,000
      22,666 SF

      199 Water St Fl, Unit 23

      LIGHT INDUSTRIAL • 22,666 SF
      199 Water St Fl, New York, NY 10038-3593
      View Details
    • Value Estimation
      $4,790,000
      22,557 SF

      199 Water St Frnt, Unit 3

      LIGHT INDUSTRIAL • 22,557 SF
      199 Water St Frnt, New York, NY 10038-3526
      View Details
    • Value Estimation
      $1,005,000
      4,379 SF

      161 William St, Unit CU19

      LIGHT INDUSTRIAL • 4,379 SF
      161 William St, New York, NY 10038-2607
      View Details
    • Value Estimation
      $995,000
      4,241 SF

      161 William St, Unit CU18

      LIGHT INDUSTRIAL • 4,241 SF
      161 William St, New York, NY 10038-2607
      View Details
    • Value Estimation
      $1,990,000
      8,962 SF

      161 William St, Unit CU5

      LIGHT INDUSTRIAL • 8,962 SF
      161 William St, New York, NY 10038-2607
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Manhattan Seaport Development Site

      Prime Mixed-Use, 817,784 sq ft
      80 South St, New York, NY 10038
      View Details
    • $1,150,000

      Residential Income Property For Sale

      Residential income property available for purchase in New York.
      176 Broadway 12E, New York, NY 10038
      View Details
    • $599,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      185 Park, New York, NY 10038
      View Details
    • New
      $4,000,000
      0.07 Acres

      Development Site in Chinatown Partnership

      Development site in Chinatown Partnership business improvement district.
      6 Chatham Sq, New York, NY 10038
      View Details
    • $888,888
      773 SF

      Manhattan Chinatown Office Space For Sale

      Prime office space in the heart of Manhattan's Chinatown.
      7 Chatham Sq, Manhattan, NY 10038
      View Details
    • $700,000

      Southbridge Towers Two Bedroom Apartment

      Two-bedroom apartment in full-service complex near Brooklyn Bridge.
      77 Fulton St, New York, NY 10038
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Prime Lower East Side Retail Space

      1,000 sq ft Restaurant, Single Tenant
      81 Catherine St, New York, NY 10038
      View Details
    • $6,500 /Mo

      Historic Beaux-Arts Skyscraper Apartment

      Historic Financial District apartment with modern amenities and spacious layouts.
      15 Park Row, New York City, NY 10038
      View Details
    • Contact for pricing
      1,600 SF

      Former Restaurant Space Available

      Vented restaurant space with high foot traffic in New York.
      88 Fulton St, New York, NY 10038
      View Details
    • Contact for pricing
      1,500 SF

      Prime Corner Restaurant Space Available

      Fully-vented restaurant space with outdoor seating in excellent condition.
      257 Water St, New York, NY 10038
      View Details
    • $42 SF/Yr
      16,160 SF

      Prime Retail Space in New York

      Ground floor retail space available for rent in New York.
      150 William St, New York, NY 10038
      View Details
    • $7,400 /Mo
      480 SF

      Retail Space in Financial District

      Retail space in luxury tower, Manhattan's Financial District.
      90 William St, New York, NY 10038
      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.
    375 Pearl St
    New York, NY 10038
    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.