233 Water Street

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Listing was updated on: 04/06/2023

233 Water Street, New York, NY, US

Location
South Street Seaport-NY-10038

Sale
Avison Young, as exclusive agent is pleased to offer for sale 233 Water Street (the “Property”) a 4,836 SF building located in the South Street Seaport historic district between Beekman Street and Peck Slip. 233 Water Street sits on a 2,418 SF lot which is situated in a C6-2A zoning district. The two-story building benefits from 33’ of frontage along Water Street, and the site allows for a total of 14,556 BSF of residential space. The Property is currently home to the Blue School who will occupy the Property through the end of the 2022/2023 academic year, at which time the Property will be delivered fully vacant. The majority of the school is operating in the next door building at 241 Water Street, but the two properties have been internally combined to service the school. 233 Water Street offers a rare opportunity for end-users and/or investors to own a fully vacant building located in the extremely sought-after neighborhood of South Street Seaport. There is also the possibility for an end-user to come in and do a single-family townhouse conversion which adds extra flexibility for investors to execute a successful business plan and to maximize their return on investment. In addition, the Property is just a 5 minute walk to the Fulton Street subway station which is serviced by the 4,5,J,Z,2,3 lines and is surrounded by a number of residential developments and conversions, which will bring a surplus of families to the neighborhood.