870 BroadwayNew York, NY 10003

Property Details for 870 Broadway

Year built

1910

Lot size

0.06 AC

Property size (Sq ft)

8,098 SF

Zone code

M15M

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

00846-0054

APU

8460054

Description

870 Broadway offers an exceptional retail opportunity in the heart of Manhattan's vibrant Union Square submarket. Two contiguous spaces totaling 4,000 square feet are available, with options for a single 2,000 square foot ground floor space and a matching 2,000 square foot lower level. The lower level space features walk-in boxes and existing ventilation, ideal for a variety of dry uses. The property boasts a prime location on a highly trafficked block, directly benefiting from the immense foot traffic generated by the Union Square Farmers Market, averaging over 250,000 weekly visitors. This exceptional location is further enhanced by its proximity to a diverse range of established businesses, including Paragon Sports, ABC Home, Verizon, Scotch & Soda, Dr. Martens, Venchi Chocolate, and Chipotle. The building is situated at 870 Broadway, between 17th and 18th Streets, in New York County, NY 10003. This presents a unique chance to establish a presence in one of Manhattan's most sought-after retail destinations. The total building encompasses 4,000 square feet, with the available space offering significant potential for a variety of retail concepts. The landlord prefers a dry use for the space.

• CAP approach

  CAP return

  Valuation

  6%

  $1,660,163

  6.5%

  $1,532,458

  7%

  $1,422,997

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,640,031

  Geo Method

  $1,640,031

• Alternative Use

  Use

  Valuation

  Residential

  $1,532,458

  Hospitality

  $1,403,724

  Educational

  $1,167,882

  Medical

  $1,208,047

  Retail

  $1,816,705

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7375

Longitude

-73.9899

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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