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Rent/Lease Office 241 Water St, New York, NY
Nearby Sublease office Spaces for Rent
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| Type of Space | Class A/month | Class B/month | Class C/month |
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Nearby office Spaces for Rent
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| William St & John Street | $ 51 | 8,700 |
$ 36,975 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| William St & John Street | $ 55 | 5,000 |
$ 22,916 |
| Address | $ / SF / Yr | SF | Monthly Rent |
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| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Maiden Ln & Nassau Street | $ 42 | 7,000 |
$ 24,500 |
| John St & Cliff Street | $ 41.5 | 9,800 |
$ 33,891 |
| Broadway & Maiden Lane | $ 40.5 | 7,400 |
$ 24,975 |
| William St & Between Fulton Street | $ 44.5 | 35,200 |
$ 130,533 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Maiden Ln & Nassau Street | $ 39.5 | 6,600 |
$ 21,725 |
| Broadway & Maiden Lane | $ 56.5 | 3,600 |
$ 16,950 |
| John St & Cliff Street | $ 46.5 | 3,000 |
$ 11,625 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Maiden Ln & Nassau Street | $ 39.5 | 2,000 |
$ 6,583 |
| Broadway & Maiden Lane | $ 52 | 2,100 |
$ 9,100 |
| John St & Cliff Street | $ 43.5 | 2,400 |
$ 8,700 |
| Broadway & Maiden Lane | $ 40 | 1,800 |
$ 6,000 |
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Retail Spaces for Rent at 241 Water St
Rent Retail 241 Water St
Rent Medical Space at 241 Water St
- Investment Technology Group leased 132,000 SF at 165 Broadway
- Municipal Credit Union leased 126,000 SF at 22 Cortlandt St
- WeWork leased 120,537 SF at 222 Broadway
- Millennium High School leased 113,566 SF at 75 Broad St
- New York Department of I… leased 107,668 SF at 80 Maiden Ln
- Lewis Brisbois Bisgaard & Smith leased 100,952 SF at 77 Water Street
- WeWork leased 94,176 SF at 110 Wall St
- NYU Langone Medical Cen… leased 94,040 SF at 233 Broadway
- Weill Cornell Medicine leased 82,994 SF at 156 William St
- WeWork leased 82,171 SF at 115 Broadway
- H&R; Block leased 1,902 SF at 5 Hanover Square
- Rezdora leased 1,800 SF at 45 John Street
- Athea Kitchens Inc. leased 1,700 SF at 7 Hanover Sq
- Starbucks leased 1,586 SF at 233 Broadway
- Starbucks leased 1,465 SF at 115 Broadway
- American Laser Centers leased 1,400 SF at 139 Fulton St
- Starbucks leased 1,200 SF at 2 Broadway
- Gregory's Coffee leased 1,100 SF at 80 Broad St
- Gregory's Coffee leased 1,100 SF at 100 Wall St
- Plus Six One leased 960 SF at 101 Greenwich Street
| $ / SF | SF | Monthly Rent |
|---|---|---|
| Please notify me when a new space is available | ||
Why Optimal Spaces Tenant Broker
- Lease negotiation: full terms, renewals, expansion options
- Cost analysis, inventory identification, negotiating scope
- Risk mitigation against hidden pitfalls
Cost Savings
- Negotiate 30+ leasing points to prevent hidden costs
- Save 10–15% on total leasing costs
- Save 100–200 hours filtering unviable spaces
- Property access via broker databases and networks (off-market, subleases, future availability)
Alone or With Other Brokers
- Managing agents owe a fiduciary duty to landlords, seeking maximum price and terms rather than tenant savings.
- Inherent conflict of interest as most brokers represent landlords
- Risk of weaker terms and overlooked hidden costs
- Heavy workload falls on you while best spaces are missed
241 Water Street, New York, NY Property Overview
| Building Address: | 241 Water St, New York NY 10038 |
| Building Name: | Seamans Church Institute of NY |
| Building Alternate Address: | 241 Water St, New York, NY |
| 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.
- Investment Technology Group leased 132,000 SF at 165 Broadway
- Municipal Credit Union leased 126,000 SF at 22 Cortlandt St
- WeWork leased 120,537 SF at 222 Broadway
- Millennium High School leased 113,566 SF at 75 Broad St
- New York Department of I… leased 107,668 SF at 80 Maiden Ln
- Lewis Brisbois Bisgaard & Smith leased 100,952 SF at 77 Water Street
- WeWork leased 94,176 SF at 110 Wall St
- NYU Langone Medical Cen… leased 94,040 SF at 233 Broadway
- Weill Cornell Medicine leased 82,994 SF at 156 William St
- WeWork leased 82,171 SF at 115 Broadway
- H&R; Block leased 1,902 SF at 5 Hanover Square
- Rezdora leased 1,800 SF at 45 John Street
- Athea Kitchens Inc. leased 1,700 SF at 7 Hanover Sq
- Starbucks leased 1,586 SF at 233 Broadway
- Starbucks leased 1,465 SF at 115 Broadway
- American Laser Centers leased 1,400 SF at 139 Fulton St
- Starbucks leased 1,200 SF at 2 Broadway
- Gregory's Coffee leased 1,100 SF at 80 Broad St
- Gregory's Coffee leased 1,100 SF at 100 Wall St
- Plus Six One leased 960 SF at 101 Greenwich Street
Recent News About 241 Water Street
Finnerty Economic Consulting, LLC. Testimonial
To Whom It May Concern:
My firm engaged Optimal Spaces when I searched for professional office space in New York City in 2005 and again in 2012 when the first lease expired and we decided to look for better office space in midtown Manhattan. I leased office space at 60 East 42"d Street in 2005 and office space at 122 East 42"d Street in 2012 with Stephen's assistance. When I sold my business to AlixPartners in 2014, I recommended that AlixPartners retain Optimal Spaces to negotiate a termination ofthe lease at 122 East 42"d Street.
I worked very closely with Stephen Sunderland, Senior Managing Director of Optimal Spaces, during both searches for office space as well as during the lease termination process. Stephen is very knowledgeable regarding the Manhattan office market. His advice proved crucial in negotiating two leases and securing the lease termination on favorable terms. He made himself available on short notice to view properties, and he identified a range of lease opportunities in various locations at different price points. I was able to benefit from his expertise to find suitable space without extensive searching.
I would not hesitate to recommend Stephen Sunderland and his firm to anyone who is searching for office space in Manhattan.
Very truly yours,
John D. Finnerty
Managing Principal
Office Buildings in Insurance District
Optimal Spaces negotiates tenant deals, typically securing 10-15% savings. We find the perfect commercial space in New York, offering a wide range of options: office, educational, industrial, retail, medical, and loft spaces.