Staten Island Multifamily Investment
646-662 Port Richmond Avenue New York City, NY 10302
For Sale
$10,800,000
COMMERCIAL - New York City, NY
Property Size27,152 SF
Lot Size0.83 Acres
Price / SF$397.76
Days on Market122
Property Features for 646-662 Port Richmond Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R3A
- Parking
- 43
- Standard status
- Active
- Size
- 27,152 SF
- Lot size
- 0.83 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 111965
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1974
- Floors in Building
- 3
Listing Agency:
NEUHAUS REALTY, INC.
(732) 946-2911
Listed By:
Giovanna Cardinale · License #40CA1050108
(732) 946-2911
Added: Mar 27
Changed: Jun 9
Last Checked: Jul 26 at 10:06PM
MLS# 2613046R
Copyright © 2026 All Jersey 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.
This 27,152 square foot all-brick garden-style apartment building features 43 rental units, presenting an investment opportunity with potential for growth. The property is not rent stabilized, allowing for flexible rent adjustments and increased rental income. The building includes 1 large office, 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments. It is situated on a 200' x 180' lot and includes 39 private parking spaces. The property features a 3-year-old roof and a 6-year-old state-of-the-art heating system. A 6,000 square foot basement includes laundry facilities. Located in the Port Richmond neighborhood, the property offers convenient access to local city buses to Brooklyn, Manhattan, and the Staten Island Mall. This property is located in Staten Island.
Key Highlights
- Not rent stabilized, offering flexibility to adjust rents and higher potential rental income.
- Substantial rental income potential from this 43‑unit all‑brick garden‑style apartment building.
- Newer roof (3 years old) and state‑of‑the‑art heating system (6 years old) reduces immediate maintenance costs.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.63M | $59.88 |
| − Vacancy | −$81.3k | −$2.99 |
| EGI | $1.54M | $56.89 |
| − OpEx | −$695.1k | −$25.60 |
| NOI | $849.5k | $31.29 |
27,152 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$12.14M
$10.62M – $14.16M
NOI $849,513 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$67.59M
$59.14M – $78.85M
NOI $4,730,964 @ 7.0% cap · market cap 43.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Apartment building - 43-unit apartment building in Port Richmond with upside potential.
Where is this apartment building located?
The property is located at 646-662 Port Richmond Avenue New York City, NY.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: Not rent stabilized, offering flexibility to adjust rents and higher potential rental income.; Substantial rental income potential from this 43‑unit all‑brick garden‑style apartment building.; Newer roof (3 years old) and state‑of‑the‑art heating system (6 years old) reduces immediate maintenance costs.
