245 Water Street, South Street Seaport

Financial District, New York, New York 10038

Listing ID Number


Property Description

Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 245 Water Street, a rare opportunity to own a completely rehabilitated 5-story elevator building nestled within the historic South Street Seaport neighborhood. Located on south side of Water Street between Peck Slip and Beekman Street the 13,000+ SF above-grade building has open views to the north and the East River and Brooklyn Bridge to the east. Currently configured as a two-family, the building can be delivered vacant. A portion of the ground floor is currently configured as storage space or garage (with new high load reinforced concrete flooring capable of supporting six parked cars) with grandfathered loading dock bays. This unique space could be repositioned as retail with soaring 18’ ceilings and original rough-sawn wooden columns. A historically appropriate retail storefront was LPC-approved in 2006, and would only require resubmission. Above the fully-restored interiors, an incredible rooftop garden with several 10-foot tall grown-in-place apple trees offers a truly unique building amenity with tremendous view of historic South Street Seaport.
The flexible C6-2A zoning offers limitless possibilities for repositioning by a full range of potential buyers from single-family townhome seekers to mixed-use residential/commercial investors looking for income-producing assets in iconic, thriving neighborhoods. Prospective owners are presented with an essentially blank canvas with the ability to execute their distinct vision in one of the most unique and emerging submarkets in all of New York City. Once completed, Pier 17 and the Seaport District will be a premier cultural, dining and retail anchor, creating an unparalleled New York experience and the most vibrant lifestyle destination in Manhattan. Come see for yourself.


Building Type:Mixed-Use Investment Buildings



For further information or inspection, please contact Exclusive Agents:

Guillermo Suarez
Licensed Real Estate Salesperson
(212) 660 7753

Maurice Suede
(212) 589 5131

Sean Rucker
Senior Associate
(212) 589 5113

Property Images

Click the image for a high resolution version.

<     /     >

Property Map

Aerial View

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.