$57,500,000
Updated 11 years ago
Off Market

96 Morton Street

West Village, Manhattan | Greenwich Street & Washington Street

Commercial

$57,500,000
floors9
Lot Size56'x188'
Built Size56'x188'
Building TypeLow-Rise

Building Amenities

  • Attended Lobby
  • Elevator

Property Description for 96 Morton Street

> This prime West Village office building presents a unique opportunity for an investor looking to establish a major presence in the up-and-coming Hudson Square office market. > In addition to the overall New York City office market continually improving, the West Village has benefited tremendously from the greater Hudson Square office renaissance of the last several years. > Currently configured as floor through office space on the second through ninth floors, this property offers tremendous upside. > The current office leases, which expire between 2014 and 2016, average about $28/RSF, reflecting about 55% of market rate, or about $45/RSF. > Meanwhile, the two retail tenants pay only $36 / RSF, which is less than half of market. > Currently there is only a minimal loss factor applied to the rentable square footage, providing a landlord with the ability to further grow rents.

Listing History for 96 Morton Street

Now
09/06/2009
POM by James P. Nelson
Cushman & Wakefield
06/08/2009
Exclusive Expired by James P. Nelson
Cushman & Wakefield

Building Details for 96 Morton Street

OwnershipCommercial
Building TypeLow-Rise
Service LevelAttended Lobby
AgePre-War
AccessElevator
Year Built1925
Floors9
Learn More About the Building

Transit and Citi Bike

Subway

Houston St
0.25 miles
Christopher St-Stonewall
0.34 miles
Spring St
0.42 miles
W 4 St-Wash Sq
0.43 miles

Citi Bike

Morton St & Greenwich St
0.02 miles
Washington St & Barrow St
0.07 miles

Contact Agents

Contact Agents

James Nelson
Cushman & Wakefield
Billy Simons
Cushman & Wakefield

West Village | Manhattan

Quick Profile

Known for its high-end shopping on Bleecker Street, the elegant brownstones dating back to colonial times that have been depicted in films and television, the abundance of cafes, and its celebrity residents, the West Village neighborhood is what springs to mind when you think of the essence of New York City. This is a neighborhood where the pace of life is less hurried, and harried, than in other neighborhoods, exuding an understated elegance and naturally beautiful sophistication and charm. 

The West Village has something to offer everyone, whether your taste runs to designer goods and trend-setting restaurants, or you are happier browsing thrift stores and whiling away the hours in conversation with friends at a hole-in-the-wall coffee shop. There are public green spaces dotted throughout this neighborhood, where you can stop and commune with nature, or grab a bite to eat from a local deli or cafe and have a picnic. The Hudson River Park offers recreational opportunities and events for all ages.

There is a tradition of bohemian non-conformity attached to the West Village. Even the intimate, tree-lined, and sometimes cobblestoned, streets refuse to conform to the grid layout of the rest of Manhattan. Activism and social consciousness have always been hallmarks of this neighborhood. The neighborhood is diverse and accepting of all. You will find artistic venues and experimental theater, together with a broad spectrum of bars, including speakeasies, and restaurants featuring myriad cuisines.

The West Village is primarily residential, conspicuously lacking the high-rise office buildings that characterize other neighborhoods. This lends an air of quiet sophistication during the day. At night, the area becomes more lively, as residents frequent their favorite restaurants, theaters, cafes, and gastropubs. Housing consists of brownstones dating back to the 18th century, low-rise walk-ups, townhouses, artists lofts, and condos in renovated buildings. Newer high-rise residential buildings are cropping up along the Hudson River. Always popular with celebrities and artistic types, the West Village is now attracting families and young professionals in the tech and financial fields.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 29224TH