Expert Tenant Broker "No Fee"
We represent you, not the landlord

Rent Office 241 Water Street

$ / SF SF Monthly Rent

Nearby Sublease office Spaces for Rent

Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Type of Space Class A/month Class B/month Class C/month
Windowed office/person $ 2100 $ 2169 $ 775
Interior office/person $ 1350 $ 1669 $ 525
Team Rooms $ 10100 $ 8919 $ 5025
Suites $ 20100 $ 12919 $ 7025

Nearby office Spaces for Rent

Address $ / SF SF Monthly Rent
William St & John Street $ 51
8,700
$ 36,975
Address $ / SF SF Monthly Rent
William St & John Street $ 56
5,000
$ 23,333
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Maiden Ln & Nassau Street $ 42
7,000
$ 24,500
John St & Cliff Street $ 42
9,800
$ 34,300
William St & Between Fulton Street $ 44
35,200
$ 130,533
Address $ / SF SF Monthly Rent
Maiden Ln & Nassau Street $ 40
6,600
$ 22,275
Broadway & Maiden Lane $ 58
3,600
$ 17,250
John St & Cliff Street $ 48
3,000
$ 11,875
Broadway & Maiden Lane $ 40
3,900
$ 12,837
Address $ / SF SF Monthly Rent
Maiden Ln & Nassau Street $ 38
2,000
$ 6,416
John St & Cliff Street $ 42
2,400
$ 8,500
Broadway & Maiden Lane $ 40
1,800
$ 6,000
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Tenant Broker’s Perspective: office buildings being demolished or converted to residential 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.
Find My Space!
241 Water Street nyc
Thank you! we will be in touch.

Before you go please fill:
Search all rental options at 241 Water St

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.


TPG Rewards Testimonial

TPG Rewards testimonial

We love a challenge!

Optimal Spaces can help you turn critical and complex real estate issues into opportunities for growth and or cost reduction. We offer the experience, know-how, and the strategic planning that helps lead to better decisions. Virtually everything you need to enhance the value of your business (for profit and not for profit) , you will find at Optimal Spaces.

About Optimal Spaces
Optimal Spaces are Tenant Brokers, only representing commercial tenants, not owners or landlords. By contrast, managing agents and most commercial brokers are "landlord agents" representing the interest of owners. Their goal is to market and lease their clients' properties with the best possible terms for the owners. Thus, they will neither show you as broad a selection nor push to get the best price, since their loyalty is to the Landlord. An Optimal Spaces agent will show you a broader range of properties and offer you a broader range of important services than a managing agent or commercial broker will. We will provide you with a market survey, floor plans, pricing expectations , and access to our rolodex: Optimal Spaces walks you through the process from start to finish. Upon entering your new space, it will look the way you want, all at the price you agreed to spend. In addition to negotiating the best price, we will reveal and abate many "hidden costs" to you. We will show you all the relevant available spaces and safeguard your interests throughout the process. Because of tour costs to provide these services, we ask in exchange that clients sign an Exclusive Brokerage Agreement. This allows us to plan appropriately for assisting you with every step of the process.

Spanish Italian German Chinese
Commercial space for lease
Optimal Spaces negotiates tenant deals, typically securing 15-20% savings. We find the perfect commercial space in New York, offering a wide range of options: office, educational, industrial, retail, medical, and loft spaces.
Find My Space!