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Rent/Lease Office 241 Water St

$ / SF SF Monthly Rent

Nearby Sublease office Spaces for Rent

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Type of Space Class A/month Class B/month Class C/month
Windowed office/person
Interior office/person
Team Rooms
Suites

Nearby office Spaces for Rent

Address $ / SF SF Monthly Rent
William St & John Street $ 50
8,700
$ 36,612
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William St & John Street $ 56
5,000
$ 23,541
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Maiden Ln & Nassau Street $ 42
7,000
$ 24,208
John St & Cliff Street $ 42
9,800
$ 33,891
Broadway & Maiden Lane $ 40
7,400
$ 24,358
William St & Between Fulton Street $ 44
35,200
$ 129,066
Address $ / SF SF Monthly Rent
Maiden Ln & Nassau Street $ 41
6,600
$ 22,550
Broadway & Maiden Lane $ 58
3,600
$ 17,400
John St & Cliff Street $ 48
3,000
$ 12,000
Address $ / SF SF Monthly Rent
Maiden Ln & Nassau Street $ 40
2,000
$ 6,583
Broadway & Maiden Lane $ 52
2,100
$ 9,100
John St & Cliff Street $ 44
2,400
$ 8,700
Broadway & Maiden Lane $ 40
1,800
$ 6,000
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent

Retail Spaces for Rent at 241 Water St

Rent Medical Space at 241 Water St

Tenant Broker’s Perspective: Return-to-office mandates are driving up rental prices at 241 Water Street. This trend is projected to continue. Opportunities for subleases remain available at 241 Water Street and in the nearby Insurance District neighborhood.
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241 Water Street Property Overview

Building Address: 241 Water St, New York NY 10038
Building Name: Seamans Church Institute of NY
Building Alternate Address: 241 Water St
Zip Code:10038
Neighborhood:Insurance District
Borough:Manhattan
Stories:6
Year Built:1991
Building Class:B

241 Water Street, located in Manhattan's Financial District, is a building with a rich history. Originally constructed in 1799 by Peter Schermerhorn for a ships chandlery business, it was significantly rebuilt in 1991 by James Polshek and Richard Olcott. The building previously housed the Seamen's Church Institute of New York and New Jersey until they relocated in 2010.

From 2011 until its closure, the Blue School, a progressive independent school founded by the Blue Man Group, occupied this space. The building offers a unique architectural feature with six stories and a total area of approximately 31,844 square feet. Its location in the South Street Seaport area allows it to be a part of the vibrant revitalization efforts in the district.

In recent years, the building has been marketed for sale, offering opportunities for redevelopment into various uses.

241 Water Street, Manhattan, New York City

Address: 241 Water St, New York, NY 10038

Property Overview

  • Building Type: Office / Loft Creative Space / Specialty Property (School)
  • Year Built: 1989 - 1991
  • Stories: 6
  • Building Size: Approximately 31,844 to 37,722 square feet
  • Lot Size: 0.17 acres (7,473 sq ft)
  • Building Class: B
  • Zoning: C6-2A

Key Features and Highlights

  • Former school building with opportunity for retail, medical use, educational space, or private members club
  • Located in prime South Street Seaport area, adjacent to The Seaport development by Howard Hughes
  • Interior includes double-height ceilings and various outdoor spaces
  • Air conditioning and balcony included
  • Surface parking available

Location and Accessibility

  • Neighborhood: Financial District, Manhattan
  • Close to multiple subway lines: 2, 3, 4, 5, J, Z, M, A, C, 6 at Fulton Street, Broadway-Nassau, Wall Street, Brooklyn Bridge-City Hall stations
  • Transit Score: 100 (excellent public transport access)

241 Water St, Manhattan, NYC - Building Amenities

  • Air Conditioning
  • Balcony
  • Various Outdoor Spaces
  • Interior Double-Height Ceilings
  • Surface Parking
  • Surface Tandem Parking
  • Covered Parking
  • Covered Tandem Parking

This 6-story, Class B office building was built in 1991 and is located in the Insurance District of Manhattan. It offers versatile space suitable for office, retail, medical, educational, or private club uses. The building is adjacent to the Seaport area and offers multiple parking options along with notable architectural features such as double-height ceilings and outdoor terraces.


241 Water St, located in the South Street Seaport historic district of Manhattan, is a six-story office building constructed in 1991. The building offers a total area of 37,722 square feet and features various amenities such as air conditioning and balconies.

Currently, the property is occupied by the Blue School, a K-8 private school founded by the Blue Man Group. However, the school is vacating at the end of the 2023 academic term. Nearby office tenants include Allied World Insurance Company and American companies, although specific information about tenants at 241 Water St is limited.


241 Water St, Manhattan, NYC Internet Providers

  • Verizon Fios - Fiber-optic with symmetrical speeds up to 2 Gbps, starting at $49.99/month
  • Spectrum - Cable internet up to 1 Gbps, plans from $44.99/month
  • Astound Broadband (RCN) - Fiber/cable hybrid with 1.5 Gbps speeds, starting at $35/month
  • Optimum - Available in NYC with 8 Gbps fiber plans, pricing varies by package

Fiber-optic coverage confirmed for the building via Verizon Fios. Multiple connection types available including cable and hybrid fiber.


241 Water St, Manhattan, NYC - Transportation and Cross Streets

Public Transportation Options

241 Water Street is conveniently located near several subway lines, bus routes, and ferry services, making it highly accessible.

Subway Stations Nearby

  • Fulton Street Station (2, 3, 4, 5, A, C, J, Z, M lines) – approximately 3 to 5 minutes walking distance
  • Wall Street Station (2, 3 lines) – about 9 minutes walk
  • Brooklyn Bridge-City Hall Station (4, 5, 6 lines) – about 9 minutes walk
  • Chambers Street Station (J, Z, 2, 3, A, C lines) – 2 minutes walk

Bus Routes Serving Nearby Stops

  • M15, M15-SBS
  • M22
  • M103
  • QM11 and other express routes

Nearby bus stops include Pearl St/Fulton St, Water St/John St, Fdr/Beekman St, and Madison St/Catherine St, all within a few minutes' walk.

Train and Ferry Services

  • PATH train service is accessible nearby
  • Ferry services at Wall St/Pier 11, about 9 minutes walking distance

Cross Streets

241 Water Street is close to several key cross streets, including John Street, Beekman Street, Pearl Street, and Fulton Street, placing it in the heart of the South Street Seaport area of Manhattan.


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Tenant Representation: Optimal Spaces acts exclusively as a "Tenant Broker," only representing tenants, never landlords.
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Unbiased Service: Avoiding conflicts of interest, they provide impartial service, showing a wider range of properties and negotiating the best price.
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Comprehensive Process: Agents guide clients end-to-end, offering market surveys, floor plans, pricing expectations, and industry contacts.
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Cost Savings: They negotiate rental price and identify/abate "hidden costs."

Why Optimal Spaces –
Tenant Broker

✓
  • No fee for clients renting space.
  • We work for YOU, not the landlord.
  • Save 15–20% on your business costs.
  • Save 100–200 hours of research.
  • Access to all available spaces.
  • Specialized real estate expertise.

Alone or with other broker

✕
  • Miss deals and hard-to-find spaces.
  • Potential conflict of interest (often represent landlords).
  • Only 10% of available spaces are online.
  • Lack of specialized expertise.
  • May not get the best terms or uncover hidden costs.
Why Use a Tenant Broker: Your Advocate in Commercial Real Estate
1. The Crucial Distinction: Whose Side Are They On?
Landlord Rep (Listing Agent) — Fiduciary Duty: Landlord. Highest rent, best terms for landlord.
Tenant Rep (Tenant Broker) — Fiduciary Duty: Tenant Only. Lowest rent, best terms for tenant. Levels the playing field.
2. It Almost Always Costs You Nothing
3. Access to “Hidden” Inventory
4. Negotiating Beyond Base Rent
Landlord pays the broker fee — free expert representation for the tenant.
Access to hidden inventory: off-market listings, subleases, and future availabilities via broker databases and networks.
Negotiating beyond base rent: free rent, TI allowance, OPEX caps, and lease flexibility for renewal or expansion.
5. Time Savings & Process Management
6. Mitigating Risk (the “Gotchas”)
Tenant broker handles searching, scheduling, and RFPs — your outsourced real estate department with curated options and timeline management.
Mitigating risk: spotting pitfalls in LOI and lease such as restoration clauses and holdover penalties.
Summary: Don’t rely on the landlord’s agent. A tenant broker is your advocate, provides better data, negotiates a complete package, and typically costs you nothing.

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