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268 Water St, New York, NY 10038

Studio, 5,544 sqft
For Sale
$4,900,000
Zestimate®: $5,323,950
Est. Mortgage:

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The subject property is a 3-story townhouse located on the north side of Water Street between Dover Street and Peck Slip in the South Street Seaport Historic District. The building is currently configured with 2,300 SF on the ground floor, 2,300 SF on the 2nd Floor and 1,100 SF on the 3rd Floor. The ground floor, which is owner occupied and will be delivered vacant at the time of sale, is classified as a home office. The second and third floors are floor-through apartments and are currently rented on a short term basis ($7,850 per month for 2nd fl, and $3,850 per month for 3rd fl).The entire building was recently gut renovated by the owner with non-toxic, natural and green/recycled materials. Renovations include central air-conditioning, beautiful Swiss kitchens & appliances and amazing roof space for the two apartments which have been enhanced with irrigation, steel work, and trees. In addition, the building enjoys a ready-to-go elevator shaft and all modern super high quality mechanicals that are brand new. The property is currently zoned as a two family house, a tax class that is taxed at a relatively low rate compared to many buildings throughout NYC. The lot itself is approximately 26' x 110' and the building is 23' x 110' with a huge rear yard that belongs to the adjacent building on Pearl Street providing plenty of natural light. The building enjoys eight skylights including one that is 23' x 20' over the kitchen on the second floor. The property can be delivered fully vacant and is ideal for a user interested in occupying a portion or all of the building. The 12,000 square feet of air rights are subject to Landmarks approval, but it is believed that the building could accept a 2 or 3 story addition minimum.  MoreLess
Facts
  • Lot: 2,860 sqft
  • Multi Family
  • Built in 1900
  • 433 days on Zillow
  • Cooling: Central
  • Price/sqft: $884
  • MLS #: 2418437
Additional Features
  • Total Floors \ 3,Borough \ Manhattan,Block Number \ 106,Lot Number \ 6,Total Charges \ 0
Construction
  • Construction quality: 0.0
  • # Stories: 3.0
  • Unit count: 2
Other
  • Floor size: 5,544 sqft
  • Lot depth: 110
  • Lot width: 26
  • Parcel #: 01060006
  • Zillow Home ID: 31493251
Home Values
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$5,323,950
+$160,878 Last 30 daysd
$4.53M
$6.34M
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$5,268/mo
+$1,395 Last 30 daysd
$1.9K
$11K
Zestimate range
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Neighborhood for 268 Water Street

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Zillow predicts Financial District home values will rise 4.7% next year, compared to a 1.8% increase for New York as a whole. Among Financial District homes, this home is 378% more expensive than the midpoint (median) home, but is priced 28.4% less per square foot.

Foreclosures will be a factor impacting home values in the next several years. In the Financial District market, the number of foreclosures waiting to be sold decreased 1.8% in the last year. The number of unsold foreclosures is 100% greater than in New York, and 94% lower than the national average. This higher local number may prevent Financial District home values from rising as quickly as other regions in New York.

Learn more about forecast calculations or Financial District home values.
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