535 Broadway New York, NY 10012-3952
Retail residential properties
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Entity Owned
~
Est. High Equity
For Lease
1 / 5
$72 SF/Yr
535 Broadway, New York, NY 10012-3952
View Listing →
Estimated value (blended)
$18.50M
Range $16.65M – $20.34M (±10%)
Property ID
US63-1502512
Property summary
AI-generated overview
This remarkable 14,225 square foot mixed-use building at 535 Broadway, built in 1852, presents a unique investment opportunity in the heart of SoHo's historic cast-iron district. Located between Spring and Prince Streets, this property boasts 25 feet of frontage on Broadway, offering exceptional visibility. The ground floor features impressive 12-foot ceilings and mullion-free windows, a rare find in SoHo, ideal for retail tenants. Currently occupied by Pop Mart, a publicly traded global retailer with significant expansion plans, this property benefits from strong co-tenancy with numerous high-profile brands including Prada, Bloomingdale's, and Nike. The upper floors comprise spacious loft-like units, offering potential for value-add improvements or conversion to luxury condominiums. The building's prime location provides easy access to public transportation, with the Broadway-Lafayette Street subway station (B, D, F, M, and 6 trains) nearby, and the R and W trains just a block away. This property is offered at $26,500,000, representing a price per square foot of $1,862.92. The building's unique features, strong tenant, and unparalleled location make it an exceptional investment opportunity in one of Manhattan's most desirable neighborhoods.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1900
Total area
11,875 SF
Lot
0.06 ac (2,500 SF)
Zoning code
M15R9X
APN
00498-0021
UPID
US63-1502512
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.26M
Blend (final)
Blend
$18.50M
Owner & transaction history
since 2026
Last sale
$22.0M
7 recorded transactions
Zoning & alternative use
M15R9X · New York, NY
Top alternative use upside
Auto repair, garage
$27.5M
+125.4%
Retail stores
$23.1M
+89.7%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 10 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$18.50M
Value range
$16.65M – $20.34M
±10% around blend
Estimated value / SF
$1,557 / SF
Confidence
High
10 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$16.65M
blend $18.50M
$20.34M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,875 SF
Lot area
0.06 ac
Year built
1900
Stories
5
APN
00498-0021
Assessed value
$3,675,330
Annual tax
$358,624
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$358,624
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$15.99M
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.2 mi away · 14,982 SF
0.2 mi away · 9,634 SF
0.2 mi away · 9,819 SF
0.3 mi away · 8,899 SF
0.5 mi away · 10,016 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$18.50M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 75 sales
$1,026
+52%
Submarket 1320 sales
$725
+115%
County 1319 sales
$722
+116%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $1,557/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+125%
vs current-use indication
Retail Stores
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 10 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
130,469.44%
Selected cap rate for this retail residential properties
Derived from the New York market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$94k *
Last sale · Feb 2026
$22.01M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$72
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
130,468.94%130,469.44%130,469.94%
$85k
$64
$64
$64
$94k
$72
$72
$71
$103k
$79
$79
$79
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$31.75M
0.1 mi · Feb 2026 · $3,024/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$358,624
Tax year 2024
Assessed value
$3,675,330
Assessed 2024
Previous assessed
$3,459,150
+6.2% YoY
Effective rate
9.76%
On assessed value
Assessed land
$1,687,500
Assessed improvement
$1,987,830
Land market value
$3,750,000
Improvement market value
$3,774,000
Total market value
$7,524,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
1900
Heating
NONE
Buildings
1
Stories
5
Units
7
Total area
11,875 SF
Lot
0.06 ac (2,500 SF)
Zoning code
M15R9X
APN
00498-0021
UPID
US63-1502512
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M15R9X · New York, NYZoning M15R9X · permitted uses
M15R9X · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Stories
5
Buildings
1
Units
7
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M15R9X
Jurisdiction
New York, NY
Recorded code
M15R9X
Ownership Intelligence
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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