28 Water St

Ariel Property Advisors has been retained on an exclusive basis to sell 28 Water Street, a mixed-use commercial building on the north side of Water Street between Broad Street and Coenties Slip located in the Financial District of Manhattan.

28 Water Street is a 4-story, plus mezzanine, 4,100 square foot, walk-up building consisting of one ground floor retail unit and 3 upstairs commercial units. The fully occupied building is anchored by a Subway restaurant, secured with a long-term market rate lease.

The retail component of 28 Water Street benefits from a large volume of foot traffic generated by tourists, locals and professionals. The property is situated directly next door to the historic Fraunces Tavern, a location that played a prominent role in American history before, during, and after the American Revolution. Today, the building is listed in the U.S. National Register of Historic Places, with a claim to be Manhattan’s oldest surviving tavern and serves as a museum and restaurant. In addition, 28 Water Street is located across the street from New York Plaza, a 19-story, 97-unit residential building and 2 New York Plaza, a 40-story office building. Surrounding attractions include the South Ferry Station, Battery Park and Wall Street.

28 Water Street is easily accessible via mass transportation with the 2, 3, 4, 5, J and Z subway trains all located within walking distance. In addition to access via the South Ferry, commuters can utilize the FDR Drive for access around Manhattan, as well as the outer boroughs.

Featuring a highly-visible location and in-place revenue, 28 Water Street provides prospective investors with the opportunity to acquire an income-producing building in one of New York City’s most desirable neighborhoods.