8 Beach St, New York, NY 10013

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.