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Listing Courtesy of Brown Harris Stevens Residential Sales LLC
$ 19,995,000
Est. payment | /mo
14 Beds
15 Baths
14,886 SqFt
$ 19,995,000
Est. payment | /mo
14 Beds
15 Baths
14,886 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 14,886 sqft
Price per Sqft $1,343
Subdivision Tribeca
MLS Listing ID RLS20108961
Style Walk-Up
Bedrooms 14
Full Baths 15
HOA Y/N No
Year Built 1915
Annual Tax Amount $105,000
Property Sub-Type Single Family Residence
Property Description
Where Tribeca's industrial soul meets a rare full-building opportunity, welcome to 8 Beach Street. Set at the edge of Tribeca Park between Varick Street and West Broadway, this 27-foot-wide prewar building spans approximately 14,886 square feet across eight stories. Built in 1915, the property combines authentic loft scale, diversified income and long-term flexibility in a coveted downtown setting moments from SoHo, the Hudson River, celebrated restaurants and galleries, and multiple subway lines.
The property generates income across a street-level retail space, seven upper-floor loft spaces and an AT&T rooftop telecommunications lease. Above the retail, the keyed elevator opens directly into each private full-floor loft. Beamed ceilings in excess of 11 feet, oversized windows at both the front and rear and broad open layouts preserve the volume, light and industrial character that make authentic Tribeca lofts so enduringly desirable.
The lofts are individually finished rather than standardized, giving each floor its own identity. They feature spa-like renovated bathrooms, chef's kitchens with European cabinetry, high-end appliances, polished concrete floors, in-unit laundry, designer lighting and extensive storage.
The seller's rent schedule identifies six market-rate lofts and one rent-stabilized tenancy. Together with the retail and rooftop income, the current schedule totals approximately $960,278 in annual rent and $978,278 in total operating income, including $18,000 in retail real-estate-tax reimbursement. Against stated annual operating expenses of $168,700, the pro forma reflects approximately $809,578 in current scheduled net operating income.
Meaningful additional value lies in the opportunity to capture higher rents over time and selectively improve the market-rate lofts as they become available. The seller's projected case models each of the six market-rate lofts at approximately $16,000 per month and the retail space at $15,000 per month, together with projected growth in the rent-stabilized tenancy and rooftop lease income. On that basis, annual rent increases to approximately $1.409 million, total operating income to approximately $1.427 million and projected net operating income to approximately $1.258 million, roughly $449,000 above the current schedule.
A buyer can preserve 8 Beach Street as a long-term mixed-use rental asset, improve and re-lease the market-rate lofts as they become available, or evaluate a future boutique condominium conversion. The full-floor layouts, keyed-elevator privacy, high ceilings and oversized windows provide a natural framework for distinctive finished lofts. Existing income can help offset carrying costs as opportunities arise, allowing the property to be repositioned incrementally rather than requiring the entire building to be taken offline at once.
Authentic, income-producing and rich in optionality, 8 Beach Street is a rare Tribeca full-building offering exceptional scale, substantial scheduled income, projected rental upside and the long-term flexibility to hold, selectively reposition or evaluate conversion.
The property generates income across a street-level retail space, seven upper-floor loft spaces and an AT&T rooftop telecommunications lease. Above the retail, the keyed elevator opens directly into each private full-floor loft. Beamed ceilings in excess of 11 feet, oversized windows at both the front and rear and broad open layouts preserve the volume, light and industrial character that make authentic Tribeca lofts so enduringly desirable.
The lofts are individually finished rather than standardized, giving each floor its own identity. They feature spa-like renovated bathrooms, chef's kitchens with European cabinetry, high-end appliances, polished concrete floors, in-unit laundry, designer lighting and extensive storage.
The seller's rent schedule identifies six market-rate lofts and one rent-stabilized tenancy. Together with the retail and rooftop income, the current schedule totals approximately $960,278 in annual rent and $978,278 in total operating income, including $18,000 in retail real-estate-tax reimbursement. Against stated annual operating expenses of $168,700, the pro forma reflects approximately $809,578 in current scheduled net operating income.
Meaningful additional value lies in the opportunity to capture higher rents over time and selectively improve the market-rate lofts as they become available. The seller's projected case models each of the six market-rate lofts at approximately $16,000 per month and the retail space at $15,000 per month, together with projected growth in the rent-stabilized tenancy and rooftop lease income. On that basis, annual rent increases to approximately $1.409 million, total operating income to approximately $1.427 million and projected net operating income to approximately $1.258 million, roughly $449,000 above the current schedule.
A buyer can preserve 8 Beach Street as a long-term mixed-use rental asset, improve and re-lease the market-rate lofts as they become available, or evaluate a future boutique condominium conversion. The full-floor layouts, keyed-elevator privacy, high ceilings and oversized windows provide a natural framework for distinctive finished lofts. Existing income can help offset carrying costs as opportunities arise, allowing the property to be repositioned incrementally rather than requiring the entire building to be taken offline at once.
Authentic, income-producing and rich in optionality, 8 Beach Street is a rare Tribeca full-building offering exceptional scale, substantial scheduled income, projected rental upside and the long-term flexibility to hold, selectively reposition or evaluate conversion.
Location
State NY
County New York
Rooms
Basement Other
Interior
Interior Features High Ceilings, Smoke Free
Cooling Window Unit(s)
Fireplace No
Appliance Washer Dryer Allowed
Laundry Washer Hookup, In Unit
Exterior
Exterior Feature None
Pool Building None
View Y/N Yes
View Other
Porch None
Private Pool Yes
Building
Story 8
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 0190-0039
Ownership None
Monthly Total Fees $8, 750
Special Listing Condition Standard
Pets Allowed Building Yes, No
RLS Data display by eXp Realty