Residential Income Property with Loft
New
For Sale
$995,000
100 W 15th Street 4BC, New York City, NY 10011
Open residential layout combines classic architectural details with flexible room configuration and full-service building amenities.
Property Size900 SF
Price / SF$1,105
Days on Market4
Property Features for 100 W 15th Street 4BC
General Information
Standard status
Active
Size
900 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
video intercom
laundry room
delivery locker
Building Details
Building Size
900 SF
Year Built
1920
Stories
5
Listing Agency:
Compass
Listed By:
Leeann Jaffee
(917) 626-2497
Source:
Nobleblackandpartners
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 8:16AM
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 Compass
Investment Insights
Based on property information with market context.
This 900-square-foot residential income property combines two studio layouts into one expansive loft-style residence. The interior includes 12-foot ceilings, two large arched windows extending from floor to ceiling, hardwood flooring, exposed brick, a cast iron column, and two full bathrooms. Additional rooms provide flexible space for storage, dressing, or pantry use, while the current plan can be reconfigured into a one-bedroom layout with a windowed partition.
The 1920 building contains 44 units across five stories and is equipped with an elevator, video intercom with remote access, a renovated laundry room, and a lobby delivery locker. A private storage cage may be rented subject to a waiting list. Pets and subletting are permitted with board approval. The property is one block from the 1/2/3/F/M/L/Path trains and sits between the Flatiron and Meatpacking Districts, with access to Union Square subway lines nearby.
The 1920 building contains 44 units across five stories and is equipped with an elevator, video intercom with remote access, a renovated laundry room, and a lobby delivery locker. A private storage cage may be rented subject to a waiting list. Pets and subletting are permitted with board approval. The property is one block from the 1/2/3/F/M/L/Path trains and sits between the Flatiron and Meatpacking Districts, with access to Union Square subway lines nearby.
Key Highlights
- 900 square feet with an open loft‑style configuration
- 12‑foot ceilings and two floor‑to‑ceiling arched windows
- Two full bathrooms plus flexible pantry, dressing, or storage rooms
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
$28,159
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
2.83%
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%
$563,180
$563.2K
Cap Rate 7%
$402,271
$402.3K
Cap Rate 9%
$312,878
$312.9K
Market Conditions
NOI Build-Up for 900 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
$53.9K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$51.2K $56.89/SF
− OpEx
−$23.0K −$25.60/SF
NOI
$28.2K $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%
$563,180
Cap Rate 7%
$402,271
Cap Rate 9%
$312,878
Alternative Uses
Best Use
Apartment 5plus
$402.3K
$352.0K – $469.3K
NOI $28,159 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,816 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open residential layout combines classic architectural details with flexible room configuration and full-service building amenities.
Where is this residential income property located?
The property is located at 100 W 15th Street 4BC New York City, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 900 square feet with an open loft‑style configuration; 12‑foot ceilings and two floor‑to‑ceiling arched windows; Two full bathrooms plus flexible pantry, dressing, or storage rooms
