Two-Bedroom Residential Income
For Sale
$925,000
106 W 116th Street 5A, New York City, NY 10026
Bright apartment offers an open kitchen, in-unit laundry, deeded storage, and access to fitness and outdoor building amenities.
Property Size1,064 SF
Price / SF$869.36
Days on Market17
Property Features for 106 W 116th Street 5A
General Information
Standard status
Active
Size
1,064 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$489
Amenities
gym
bike room
common garden
landscaped terrace
roof deck
video intercom
in-unit washer/dryer
deeded storage unit
Building Details
Building Size
1,064 SF
Year Built
2006
Listing Agency:
Compass
Listed By:
Emily Mencke
(917) 975-0619
Source:
Bondnyre
Added: Sep 8
Changed: Sep 19
Last Checked: Sep 22 at 9:49PM
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 1,064-square-foot apartment at 106 W 116th Street 5A includes two bedrooms and two full bathrooms. The interior combines a generous living and dining area with built-in shelving, an open kitchen with breakfast bar, full-sized appliances, and substantial cabinet and closet storage. Additional features include an in-unit washer and dryer, city-quiet windows, PTAC units for zoned heating and air conditioning, and a deeded storage unit. The primary bedroom has an en-suite bathroom and extensive closet space.
Built in 2006, the building provides a roof deck, landscaped terrace, common garden courtyard, gym, bike room, video intercom, and pet-friendly policies. The property is adjacent to the 2/3 train and within walking distance of the B/C and 4/6 trains, Central Park, Morningside Park, Marcus Garvey Park, and the 125th shopping district. A tax abatement remains in place until 2033.
Built in 2006, the building provides a roof deck, landscaped terrace, common garden courtyard, gym, bike room, video intercom, and pet-friendly policies. The property is adjacent to the 2/3 train and within walking distance of the B/C and 4/6 trains, Central Park, Morningside Park, Marcus Garvey Park, and the 125th shopping district. A tax abatement remains in place until 2033.
Key Highlights
- 1,064‑square‑foot apartment with two bedrooms and two full bathrooms
- Open kitchen with breakfast bar, full‑sized appliances, and extensive cabinet storage
- Deeded storage unit plus in‑unit washer and dryer
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
$33,290
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
3.60%
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%
$665,800
$665.8K
Cap Rate 7%
$475,571
$475.6K
Cap Rate 9%
$369,889
$369.9K
Market Conditions
NOI Build-Up for 1,064 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
$63.7K $59.88/SF
− Vacancy
−$3.2K −$2.99/SF
EGI
$60.5K $56.89/SF
− OpEx
−$27.2K −$25.60/SF
NOI
$33.3K $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%
$665,800
Cap Rate 7%
$475,571
Cap Rate 9%
$369,889
Alternative Uses
Best Use
Apartment 5plus
$475.6K
$416.1K – $554.8K
NOI $33,290 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,391 @ 7.0% cap · market cap 20.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright apartment offers an open kitchen, in-unit laundry, deeded storage, and access to fitness and outdoor building amenities.
Where is this residential income property located?
The property is located at 106 W 116th Street 5A New York City, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 1,064‑square‑foot apartment with two bedrooms and two full bathrooms; Open kitchen with breakfast bar, full‑sized appliances, and extensive cabinet storage; Deeded storage unit plus in‑unit washer and dryer
