Setai Wall Street Commercial Condos Going for $375 PSF

NEW YORK CITY-As investors continue to flock to Lower Manhattan, Cassidy Turley is marketing four commercial condominiums within Setai Wall Street at 40 Broad St. in the Financial District, GlobeSt.com has learned. “There is a lot of activity,” says David Lebenstein, senior managing director and principal at the brokerage, who is offering roughly 70,000 square feet on floors four through seven inside the class A building. Asking prices start at $375 per square foot—a price that he describes as a “bargain” compared to other Manhattan submarkets.

“If you look at the pricing, it is significantly more favorably priced than buying a commercial condominium in Midtown, which could range $550 to $750 a foot,” he says, noting that the units are attracting a whole host of potential users thus far. “It’s been a real mix. There has been foreign buyers, law firms, some nonprofits,” he adds.