Description

BKREA has been exclusively retained to arrange the sale of the fee position at 411 Lafayette Street, a ground-leased six-story commercial office building located in the heart of NoHo, Manhattan. The property sits on the east side of Lafayette Street between East 4th Street and Astor Place, steps from the Astor Place subway station and just a short distance from Washington Square Park, placing it within one of Lower Manhattan’s most desirable and transit-rich neighborhoods. The site spans approximately 14,782 square feet with 82.17 feet of frontage and is improved with a 97,020 rentable-square-foot building constructed in 1892, zoned M1-5/R9A within the SNX district. The building is ground-leased to Himmel + Meringoff, with 36 years remaining and no extension options, providing a hands-off ownership structure, stable cash flow, and downside protection, while offering substantial reversionary upside at lease expiration. Anchored by high-quality tenants including New York University, McGuffin Films, Palisades Institute, and retail tenant Dienst & Dotter Antiques, the asset represents a compelling covered land play with discounted entry pricing, secure income, and long-term appreciation potential in a premier NoHo location.