The Reel

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A blog for breaking sales and neighborhood real estate news.

A two-unit loft building at 268 Water Street, located between Dover Street and Peck Slip in Manhattan’s South Street Seaport Historic District, was sold in an all-cash transaction valued at $5,000,000.

The three-story building contains approximately 5,544 square feet and sits on a 26.7’ x 110’ lot. It consists of floor-through apartments on the second and third floors with ground floor home-office space. About 15 years ago, the entire building was gut renovated with non-toxic, natural and green/recycled materials. Most of the building’s mechanicals were new at the time of the sale and the building was delivered vacant. The sale price equates to approximately $902 per square foot.

“Vacant loft buildings are a rare commodity,” said Massey Knakal’s Michael DeCheser, who exclusively handled this transaction. “We relied heavily on the brokerage community to help us find the right user given the uniqueness of the property,” he continued.

Click here for press release

Agents: Michael DeCheser