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

    447 Broadway New York, NY 10013

    • Office buildings
    • 25,000 SF
    • 0.11 lot acres
    For Lease
    View listing
    Last Sale
    Mar 05, 2025
    $10,500,000
    Value Estimations
    $9,400,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3834005
    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

    • John Johnson & Associates / Patent Attorney / Trial Attorney
    • One World Nexus LLC / Non-Profit Organization
    • Adventure Untamed / Outdoor Activity Organiser
    • The Best Shades / Window Treatment Store / Blinds Shop
    • House Productions, LLC / Video Production Service

    Property Details for 447 Broadway

    Year built
    1920
    Lot size
    0.11 lot acres
    Property size
    25,000 SF
    Zone code
    M15R9X
    Property type
    Office buildings
    APN
    00231-0037
    APU
    2310037

    Description

    This exceptional commercial property at 447 Broadway, situated in the vibrant SoHo submarket of New York City (zip code 10013), offers a rare opportunity to lease premium office space. The building features two available spaces, ranging from 6,000 to 7,000 square feet, perfect for businesses seeking a prestigious address in a highly sought-after location. The property is classified as both retail and office, with the current listing focusing on the office component. The building boasts a modern, pre-built design with high-end finishes. Ownership is committed to building to suit tenant specifications and will provide full furnishing upon request, ensuring a seamless move-in experience. A key advantage is the dual access points, providing convenient entry from both Broadway and Mercer Street, enhancing visibility and accessibility. This multi-tenant building is located in New York County, New York, offering unparalleled access to the city's bustling business district and cultural attractions. The precise square footage of each available space can be confirmed upon inquiry. This is an exceptional opportunity to establish a thriving business in one of Manhattan's most iconic neighborhoods. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,035,000
      ML approach
      $6,125,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,915,000
      6.5%
      $12,845,000
      7%
      $11,930,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0015
    Latitude
    40.7206
    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
    $427,021
    $607,500
    $3,424,040
    $4,031,540
    -
    $1,350,000
    $8,734,000
    $10,084,000

    Comparable in this City

    • Value Estimation
      $4,275,000
      11,500 SF

      456 Broadway

      OFFICE BUILDING (MULTI-STORY) • 11,500 SF
      456 Broadway, New York, NY 10013-5800
      View Details
    • Value Estimation
      $6,380,000
      24,000 SF

      390 Broadway

      OFFICE BUILDING (MULTI-STORY) • 24,000 SF
      390 Broadway, New York, NY 10013-3512
      View Details
    • Value Estimation
      $550,000
      27,336 SF

      455 Broadway

      OFFICE BUILDING (MULTI-STORY) • 27,336 SF
      455 Broadway, New York, NY 10013-2575
      View Details
    • Value Estimation by Request
      402,111 SF

      101 Ave Of The Americas

      OFFICE BUILDING (MULTI-STORY) • 402,111 SF
      101 Ave Of The Americas, New York, NY 10013-1933
      View Details
    • Value Estimation
      $3,580,000
      10,350 SF

      556 Broome St

      OFFICE BUILDING (MULTI-STORY) • 10,350 SF
      556 Broome St, New York, NY 10013-1517
      View Details
    • Value Estimation
      $11,485,000
      23,823 SF

      468 Broome St

      OFFICE BUILDING (MULTI-STORY) • 23,823 SF
      468 Broome St, New York, NY 10013-2611
      View Details

    Similar Nearby for Sale

    • $14,000,000
      4,800 SF

      Prime Chinatown Commercial Corner

      4,800 SF Restaurant/Office Opportunity
      274 Canal St, New York, NY 10013
      View Details
    • $650,000
      700 SF

      Soho/China Town Commercial Condo

      700 sqft commercial condo in prime location.
      107-109 Lafayette St, New York, NY 10013
      View Details
    • $4,380,000

      SoHo Commercial Condo For Sale

      Top-floor commercial condo in SoHo, steps from Canal Street Station.
      424 Broadway 6, New York, NY 10013
      View Details
    • $499,000
      515 SF

      Chinatown Office Space Opportunity

      Vacant 515 sq ft office space in vibrant Chinatown.
      210 Canal St, New York, NY 10013
      View Details
    • $11,000,000
      146,861 SF

      Prime NYC Executive Office Space

      146,861 SF Office Building, $11M
      121 Varick St, New York, NY 10013
      View Details
    • $14,000,000
      7,971 SF

      Tribeca Commercial Condo For Sale

      7,971 SF commercial condo in prime Tribeca location.
      66 White St, New York, NY 10013
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,742 SF

      SoHo Cast Iron Building

      Cast iron building in SoHo with high ceilings.
      435 Broome St, New York, NY 10013
      View Details
    • Contact for pricing
      1,353 SF

      Classic Office Building with Amenities

      Landmark office building in Lower Manhattan with modern amenities.
      120 Broadway, New York, NY 10013
      View Details
    • $82 SF/Yr
      37,819 SF

      Art Deco Office Space Available

      Landmarked Art Deco office building with renovated spaces for rent.
      32 Avenue Of The Americas, New York, NY 10013
      View Details
    • $22 SF/Yr
      11,728 SF

      Tribeca Executive Office Suites

      Prime Tribeca location, flexible office space.
      99 Hudson St, New York, NY 10013
      View Details
    • $60 SF/Yr
      7,000 SF

      Tribeca Loft Office Space for Lease

      7,000 SF Full-Floor Loft in Soho
      54 Moore St, New York, NY 10013
      View Details
    • $50 SF/Yr
      4,000 SF

      Prime NYC Office Space Available

      Lafayette Street, flexible suites, various sizes.
      100 Lafayette St, New York, NY 10013
      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.
    447 Broadway
    New York, NY 10013
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.