Property profile

438 37th St Rm 4a New York, NY 10018

OFF-MARKET
Flex space
Property ID
US63-3374392
957 SF
Individually Owned 26-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 28,768 square foot commercial property at 438 West 37th Street in New York, NY 10018 presents a unique investment opportunity. The building, categorized as retail, office, and industrial space, features a desirable executive office and manufacturing subtype. Boasting soaring 13'4" ceilings and expansive north and south facing windows, the space offers abundant natural light and impressive volume. The layout includes unique, larger floor plates with the possibility of a two-floor contiguous block. The property benefits from very low carrying costs, further enhancing its financial appeal. Recent renovations include a newly updated lobby and other building improvements. Attractive financing options are available, with up to 90% financing potentially accessible. The building's strategic location offers unparalleled convenience and prestige. It is situated next to notable establishments including the Baryshnikov Arts Center, Chef's Table at Brooklyn Fare, Uncle Jack's Steakhouse, Walt Frazier's, Legacy Records, and Peloton's corporate headquarters. Across the street, the Brooklyn Fare gourmet store provides convenient and high-quality lunch options for tenants and employees. The asking price for this remarkable property is $18,699,000, translating to a price per square foot of $650. This presents a compelling investment opportunity in a vibrant and highly sought-after New York City location.

Property profile

Verified
Property type Flex space
Use group LIGHT INDUSTRIAL
Total area 957 SF
Zoning code R8A
APN 00734-1066
UPID US63-3374392

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Marketing & Advertising
  • Architectural Designer Interior Designer
  • Media Distribution
  • Photography Service (Bike/Boat/Book/etc) Store
  • Film Production Television Studio

Location

438 37th St Rm 4a New York, NY 10018-9565
New York metro Census 11100 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$225k

Owner & transaction history

since 2000
1 recorded transaction
2000
$275,500

Zoning & alternative use

R8A · New York, NY

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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