434 Sixth Avenue — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: New York, NY 10011

Description

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. 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 owne

Market Context

This office in New York, NY is listed for sale. It has been on the market for 100 days. Compare it against other office listings for sale in New York, NY — view the full market.

As of Q1 2026, the New York City Area office market showed average asking rents near $45.36/SF/yr. Source: CBRE Q1 2026 market report.

Estimated Market Rate

$551.77/SF – $746.51/SF

Mid: $649.14/SF

Rate estimator only; cost-of-business estimate unavailable.

Contact

  • Eric M. Anton
  • Joe Koicim
  • Nelson Lee
  • Adam Steiner

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