Multifamily Apartment
For Sale
Contact for pricing
Pending
1 Scarboro Ave, Staten Island, NY 10305
Multifamily building with 102 units, underground parking, and private balconies offering water and city views.
Property Size98,864 SF
Days on Market836
Property Features for 1 Scarboro Ave
General Information
Standard status
Pending
Size
98,864 SF
Class
A
Property subtype
Multifamily
Zoning
R4
Occupancy
100%
Net Operating Income
$2,687,340
Additional Details
Business Included
No
Multifamily Units
102
Building Details
Year Built
2023
Buildings
1
Stories
4
Units
102
Listing Agency:
Revolution Real Estate
Listed By:
Dora Lind · License #10401347264
(718) 524-7999
Source:
Crexi
Added: May 24, 2024
Changed: Aug 13
Last Checked: Sep 4 at 4:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Revolution Real Estate
Investment Insights
Based on property information with market context.
This for-sale multifamily apartment building consists of 102 units and includes underground parking. Residences feature private balconies with water and city views. The building’s units are individually serviced with separate boilers and hot water tanks.
Tenant-paid utilities are in place, with tenants responsible for heat, hot water, cooking gas, electric, and sub-metered water. The property also includes washer/dryer setups within the units.
The configuration is designed for tenant utility responsibility and includes individual mechanical systems for each unit, along with balcony access and below-grade parking.
Tenant-paid utilities are in place, with tenants responsible for heat, hot water, cooking gas, electric, and sub-metered water. The property also includes washer/dryer setups within the units.
The configuration is designed for tenant utility responsibility and includes individual mechanical systems for each unit, along with balcony access and below-grade parking.
Key Highlights
- 2023‑built multifamily building with 102 units
- Underground parking included
- Units have private balconies with water and city views
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
$2,388,159
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
4.87%
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%
$47,763,180
$47.8M
Cap Rate 7%
$34,116,557
$34.1M
Cap Rate 9%
$26,535,100
$26.5M
Market Conditions
NOI Build-Up for 98,864 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
$4.75M $48.00/SF
− Vacancy
−$403.4K −$4.08/SF
EGI
$4.34M $43.92/SF
− OpEx
−$1.95M −$19.76/SF
NOI
$2.39M $24.16/SF
Area
ZIP 10305
Vacancy
8.50%
Lease Rate
$48.00 /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%
$47,763,180
Cap Rate 7%
$34,116,557
Cap Rate 9%
$26,535,100
Alternative Uses
Best Use
Apartment 5plus
$34.12M
$29.85M – $39.80M
NOI $2,388,159 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$47.17M
$41.28M – $55.03M
NOI $3,302,080 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
102
Residential units
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily building with 102 units, underground parking, and private balconies offering water and city views.
Where is this apartment building located?
The property is located at 1 Scarboro Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $49,000,000.
What are key features of this property?
This property features: 2023‑built multifamily building with 102 units; Underground parking included; Units have private balconies with water and city views
