40 Broad StNew York, NY 10004

Property Details for 40 Broad St

Year built

1982

Property size (Sq ft)

7,903 SF

Zone code

C5-5

Property type

Retail properties

Property subtype

Retail space

APN

00024-1002

APU

241002

Description

This exceptional office condominium, located at 40 Broad Street in New York City's Financial District, offers 8,400 to 14,592 square feet of exquisitely designed space. Built in 1984 and renovated in 2011, this Class A building boasts a high-end existing law firm installation with an efficient layout and wide column spacing. The entire 7th floor is available for sale, ideal for law and financial firms, non-profits, or medical users. Situated at the base of a luxury residential tower, the commercial section enjoys a separate dedicated entrance. Benefit from a prime location steps from the New York Stock Exchange, with nearly 50,000 pedestrians passing daily. The building is in the heart of the rapidly evolving Financial District, surrounded by new residential projects and experiential retail. Enjoy nearby amenities including Equinox and Lifetime Fitness, major food halls, and renowned restaurants. The space features 10'6" high ceilings, multiple windows providing abundant natural light, and a modern attended lobby with two passenger elevators and one freight elevator. Its close proximity to Wall Street, Fulton Street, the World Trade Center, and Brookfield Place offers easy access to numerous subway lines, the PATH train, and several ferry lines. The asking price is $5,880,000, with a price per square foot of $700.

• CAP approach

  CAP return

  Valuation

  6%

  $1,920,705

  6.5%

  $1,772,958

  7%

  $1,646,318

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,602,167

  Geo Method

  $2,602,167

• Alternative Use

  Use

  Valuation

  Residential

  $1,495,557

  Hospitality

  $1,369,922

  Educational

  $1,139,759

  Medical

  $1,178,957

  Retail

  $1,772,958

Location Insight

City

New York

County

New York

State

New York

Latitude

40.706

Longitude

-74.0118

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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