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New York & Tri-State  + Downtown New York  + Apartments  | 
257 Water St. Lower Manhattan Seaport District

Mixed-Use Seaport Property Comes to Market

Cushman & Wakefield has been retained to sell 257 Water St., also known as 23 Peck Slip, a 27,522-square-foot mixed-use building located in the Seaport District. The team of Maurice Suede and Daniel Soyak will lead marketing efforts on behalf of the seller, Churchill Real Estate. 

“257 Water St. is a great opportunity for an investor to acquire a property with stable and current cash flow today and the ability to improve rents by renovating some of the units,” said Suede. “The building features more than 7,000 square feet of air rights that could be used to add an additional floor to the building.” 

The property consists of two conjoined buildings that total 27,522 square feet with 20 free market residential units and two commercial units. One of the commercial spaces is occupied by Mark Joseph Steakhouse, while the other retail space is currently vacant. 

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Inside The Story

Cushman & Wakefield’s Suede

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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