70 Little West Street Parking Garage — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: New York, NY 10004

Description

70 Little West Street (Commercial Unit D) is a prime 100-space parking condominium located within The Visionaire, a LEED Platinum trophy residential tower in Battery Park City. The asset spans approximately 17,616 gross square feet across the cellar and ground floor, utilizing a owned high-capacity hydraulic stacker system. The property is being offered via a Chapter 11/§1146(a)-qualified plan sale, ensuring a clean title via court order and a defined closing timeline. Asset & Transaction Structure The property is being offered via a Chapter 11/§1146(a)-qualified plan sale, ensuring a clean title via court order and a defined closing timeline. Strategic Location & Submarket Situated in one of Lower Manhattan's most supply-constrained districts, the garage benefits from a "captive" luxury resident base and proximity to major hubs like Brookfield Place, the World Trade Center transit hub, and Goldman Sachs's headquarters. Investment Highlights: • Cash Flow through 2029 : The asset features a single-tenant modified-gross lease with Manhattan Parking Group, an institutional New York operator. Approximately $2.0 million in contracted r • License-Program Optionality : An NY Attorney General No-Action Letter already authorizes a parking-space license program at the property. • Reduced Mortgage Recording

Market Context

This retail in New York, NY is listed for sale. It has been on the market for 101 days. Compare it against other retail listings for sale in New York, NY — view the full market.

As of Q1 2026, the New York City Area retail market showed a 4.2% vacancy rate, average asking rents near $54.00/SF/yr, and cap rates around 6.2%.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in New York City Area?
About 6.2% as of Q1 2026.
Is the New York City Area retail market tightening or softening?
Vacancy is around 4.2% (Q1 2026).

Estimated Market Rate

$730.53/SF – $988.37/SF

Mid: $859.45/SF

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

Contact

  • Eric M. Anton
  • Nelson Lee

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