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Property Description
SERHANT. has been exclusively retained to represent the parking garage at 225 Rector Place for sale.
A rare, income-generating asset in the heart of Battery Park City, this 149-space parking garage offers a turnkey opportunity to acquire a fully leased, institutional-quality investment in one of Manhattan’s most affluent and demand-stable neighborhoods. Located at the base of a 23-story luxury condominium, the garage spans nearly 28,000 square feet and boasts dual frontage along South End Avenue and Rector Place—ensuring optimal visibility and access.
Currently leased to Hertz (65 spaces) and CenterPark (84 spaces), the garage delivers consistent cash flow under a modified gross lease structure, with tenants covering pro-rata real estate taxes and common area maintenance over a base year. Investors benefit from both in-place income and future upside potential through lease optimization or operational restructuring.
Surrounded by residential towers, Brookfield Place, the World Trade Center, and the Hudson River waterfront, 225 Rector Place sits at the nexus of one of Lower Manhattan’s most active and high-demand corridors. Its proximity to major transit options, including subways, PATH, ferry terminals, and arterial highways, reinforces the garage’s utility in a tightly zoned, parking-constrained environment.
For investors seeking a low-maintenance, long-term yield in a premier submarket, 225 Rector Place offers exceptional fundamentals and enduring value.
SERHANT. has been exclusively retained to represent the parking garage at 225 Rector Place for sale.
A rare, income-generating asset in the heart of Battery Park City, this 149-space parking garage offers a turnkey opportunity to acquire a fully leased, institutional-quality investment in one of Manhattan’s most affluent and demand-stable neighborhoods. Located at the base of a 23-story luxury condominium, the garage spans nearly 28,000 square feet and boasts dual frontage along South End Avenue and Rector Place—ensuring optimal visibility and access.
Currently leased to Hertz (65 spaces) and CenterPark (84 spaces), the garage delivers consistent cash flow under a modified gross lease structure, with tenants covering pro-rata real estate taxes and common area maintenance over a base year.
Overview
Property Type
Commercial
Location
225 Rector Place, New York, NY 10280
Listing Last Updated
6/18/2025 12:39 PM
Property Features & Amenities
Interior
Exterior
Stories
23
Details
Neighborhood
Battery Park City
Financial
Price
$6,500,000
Exclusive Listing Agents
Bernadette Brennan
Licensed Associate Real Estate Broker | Executive Director | SERHANT. Commercial NYC
(917) 482-5959 bernadette@serhant.com