Mixed-Use
434 Sixth Avenue
434 6th Ave, New York, NY 10011
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the exclusive offering of 434 Sixth Avenue (the “Property”), a six-story, 29,387 square foot commercial office building located in West Village. Ownership is
seeking to structure a 99-year ground lease; however, it will also evaluate purchase offers.
Originally built in 1894 for Solomon Sayles, a prominent meat and provisions dealer, the Property was designed by architect Ralph S. Townsend in the Italianate Renaissance style and remains a defining architectural fixture of the neighborhood.
Today, the property consists of five retail units and five full-floor office suites. It is fully occupied with the exception of one 300 square foot retail space. The Joffrey Ballet School—an institution
with a decades-long presence in the building—leases three of the five office floors.
With ceiling heights exceeding 11 feet and strong light and air across the majority of exposures, the Property is well suited for either residential conversion or continued office use in a supply constrained
Manhattan submarket.
434 Sixth Avenue benefits from a prime West Village location with exceptional access to transit and neighborhood amenities. Surrounded by residential buildings and heavy foot traffic, the
Property is positioned within one of Manhattan’s most desirable and dynamic environments.
434 Sixth Avenue
Investment Highlights
- Stable In-Place Cash Flow - The Property currently generates approximately $1.3 million in Net Operating Income with long-term tenants.
- Rent Upside Through Re-Measurement and Mark-to-Market Opportunity - The Property has not yet been measured, creating the potential to uncover additional rentable square footage that can be captured.
- Value-Add Conversion Opportunity - The Property is zoned as-of-right for residential use. This provides meaningful upside through a potential conversion to condominiums or market-rate rentals.
- Well-Maintained Historic District - The building has been consistently and thoughtfully maintained, with ownership recently investing over $1.2 million in capital improvements.
- Prime West Village Location - Situated at the corner of West 10th Street and Sixth Avenue, the Property is just steps from the West 4th Street–Washington Square subway station, providing immediate access to the A/C/E and B/D/F/M lines. It is also a short walk to both the 14th Street–Sixth Avenue station and the 9th Street PATH.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Stable In-Place Cash Flow - The Property currently generates approximately $1.3 million in Net Operating Income with long-term tenants.
- Rent Upside Through Re-Measurement and Mark-to-Market Opportunity - The Property has not yet been measured, creating the potential to uncover additional rentable square footage that can be captured.
- Value-Add Conversion Opportunity - The Property is zoned as-of-right for residential use. This provides meaningful upside through a potential conversion to condominiums or market-rate rentals.
- Well-Maintained Historic District - The building has been consistently and thoughtfully maintained, with ownership recently investing over $1.2 million in capital improvements.
- Prime West Village Location - Situated at the corner of West 10th Street and Sixth Avenue, the Property is just steps from the West 4th Street–Washington Square subway station, providing immediate access to the A/C/E and B/D/F/M lines. It is also a short walk to both the 14th Street–Sixth Avenue station and the 9th Street PATH.
Investment Overview
Marcus & Millichap is pleased to present the exclusive offering of 434 Sixth Avenue (the “Property”), a six-story, 29,387 square foot commercial office building located in West Village. Ownership is seeking to structure a 99-year ground lease; however, it will also evaluate purchase offers. Originally built in 1894 for Solomon Sayles, a prominent meat and provisions dealer, the Property was designed by architect Ralph S. Townsend in the Italianate Renaissance style and remains a defining architectural fixture of the neighborhood. Today, the property consists of five retail units and five full-floor office suites. It is fully occupied with the exception of one 300 square foot retail space. The Joffrey Ballet School—an institution with a decades-long presence in the building—leases three of the five office floors. With ceiling heights exceeding 11 feet and strong light and air across the majority of exposures, the Property is well suited for either residential conversion or continued office use in a supply constrained Manhattan submarket. 434 Sixth Avenue benefits from a prime West Village location with exceptional access to transit and neighborhood amenities. Surrounded by residential buildings and heavy foot traffic, the Property is positioned within one of Manhattan’s most desirable and dynamic environments.
Exclusively Listed By
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