Renovated Apartment
For Sale
$4,800,000
2064 5th Avenue, New York, NY 10035
Commercial Sale, New York, NY
Property Size9,221 SF
Lot Size0.06 Acres
Price / SF$520.55
Days on Market354
Property Features for 2064 5th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
20
Bathrooms
13
Full bathrooms
13
Rooms
Bathroom 2, Bathroom 12, Bathroom 8, Bedroom 8, Bedroom 3, Bathroom 11, Bedroom 9, Bathroom 3, Bedroom 2, Bedroom 15, Bedroom 5, Bedroom 6, Bathroom 9, Bedroom 19, Bedroom 1, Bedroom 10, Bedroom 13, Bathroom 4, Bedroom 20, Bedroom 4, Bedroom 17, Bedroom 14, Bedroom 7, Bathroom 10, Bathroom 1, Bathroom 6, Bedroom 11, Bathroom 13, Bathroom 7, Bedroom 16, Bedroom 18, Bathroom 5, Bedroom 12
Subdivision
West Harlem
High school district
000000
Standard status
Active
Size
9,221 SF
Lot size
0.06 Acres
Amenities
central air
in-unit laundry
outdoor spaces
common roof deck
private storage
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Chris Halliburton
Added: Sep 1, 2025
Changed: Aug 20
Last Checked: Aug 20 at 2:06PM
MLS# 11567148
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 2064 5th Avenue in Central Harlem, this 1910 brick and masonry apartment building contains 9 renovated free-market residential units across 4 stories. The property measures 9,221 square feet on a 25 ft x 100 ft lot, with a 25 ft x 98 ft building footprint. Unit layouts include one-, two-, and three-bedroom residences, including two-bath configurations. Central air serves every apartment, while electric service is separately metered for each unit. Several residences include private outdoor areas, and the building also provides a common roof deck and private storage.
The property is situated at Fifth Avenue and 127th Street near restaurants, bars, shops, Marcus Garvey Park, Morningside Park, and train options. Zoning is R7-2, C1. The offering may also be combined with residential buildings at 56 East 130th Street and 240 Lenox Avenue under one assumable mortgage.
The property is situated at Fifth Avenue and 127th Street near restaurants, bars, shops, Marcus Garvey Park, Morningside Park, and train options. Zoning is R7-2, C1. The offering may also be combined with residential buildings at 56 East 130th Street and 240 Lenox Avenue under one assumable mortgage.
Key Highlights
- 9 renovated free‑market residential units
- 9,221 square feet on a 25 ft x 100 ft lot
- Four‑story, 1910 brick and masonry building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$288,500
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,770,000
$5.8M
Cap Rate 7%
$4,121,429
$4.1M
Cap Rate 9%
$3,205,556
$3.2M
Market Conditions
NOI Build-Up for 9,221 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$552.2K $59.88/SF
− Vacancy
−$27.6K −$2.99/SF
EGI
$524.5K $56.89/SF
− OpEx
−$236.0K −$25.60/SF
NOI
$288.5K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,770,000
Cap Rate 7%
$4,121,429
Cap Rate 9%
$3,205,556
Alternative Uses
Best Use
Apartment 5plus
$4.12M
$3.61M – $4.81M
NOI $288,500 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$22.95M
$20.08M – $26.78M
NOI $1,606,667 @ 7.0% cap · market cap 33.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
7,755
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Four-story Harlem property with free-market residences, central air, in-unit laundry, and shared rooftop space.
Where is this apartment building located?
The property is located at 2064 5th Avenue New York, NY.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 9 renovated free‑market residential units; 9,221 square feet on a 25 ft x 100 ft lot; Four‑story, 1910 brick and masonry building
