14 Vesey StNew York, NY 10007

Property Details for 14 Vesey St

Year built

1930

Lot size

0.17 AC

Property size (Sq ft)

30,000 SF

Zone code

C5-3

Property type

Office buildings

APN

00088-0002

APU

880002

Description

This exceptional investment opportunity presents 14 Vesey Street, a landmark five-story building in Manhattan's Financial District. Boasting approximately 33,819 square feet of gross above-grade space, this architecturally significant property, formerly the New York County Lawyers' Association Building, offers a substantial value-add potential. The building features varying ceiling heights ranging from 10 to 19 feet, providing flexibility for diverse uses. Zoned C5-3 and LM, it allows for versatile redevelopment options. Situated on a 7,583 square foot lot, the property also includes significant air rights totaling 79,926 square feet. Its prime location offers unparalleled access to multiple subway lines (A, C, J, Z, 2, 3, 4, and 5), and proximity to the World Trade Center ensures excellent connectivity and commercial vibrancy. Constructed in 1929, 14 Vesey Street represents a unique blend of historical significance, architectural beauty, and substantial development potential. The asking price is $35,000,000, translating to approximately $1,034.92 per square foot. This presents a rare chance to acquire a piece of Manhattan history with significant upside potential in a highly desirable location. The property is ideal for an owner/user seeking a unique and prestigious headquarters or a developer looking to capitalize on its significant air rights and versatile zoning.

• CAP approach

  CAP return

  Valuation

  6%

  $4,959,896

  6.5%

  $4,578,366

  7%

  $4,251,340

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,919,800

  Geo Method

  $3,919,800

• Alternative Use

  Use

  Valuation

  Residential

  $5,677,174

  Hospitality

  $5,200,260

  Educational

  $4,326,556

  Medical

  $4,475,352

  Retail

  $6,730,198

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7119

Longitude

-74.0092

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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