Building Details

Building Size 812 SF

Year Built 1970

Listed By: Joseph Albino Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 25 Last Checked: Oct 4 at 10:21AM

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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 Joseph Albino

Investment Insights

Based on property information with market context.

This updated co-op features an open concept layout suitable for modern lifestyles. The bright living space flows into the dining area and living room, creating an environment for entertaining and everyday comfort. The community provides amenities including a pool, clubhouse, and a fitness room. The property is located near shopping, dining, and transportation.

Key Highlights

• Updated, deluxe‑size co‑op with open concept layout.
• Resort‑style living with pool, clubhouse, and fitness room.
• Convenient location near shopping, dining, and transportation.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,527

Cap Rate

5.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$250,540 $250.5K

Cap Rate 7%

$178,957 $179.0K

Cap Rate 9%

$139,189 $139.2K

Market Conditions

NOI Build-Up for 812 SF

Gross rent

$24.4K $30.00/SF

− Vacancy

−$1.6K −$1.95/SF

EGI

$22.8K $28.05/SF

− OpEx

−$10.2K −$12.62/SF

NOI

$12.5K $15.43/SF

Area

ZIP 11751

Vacancy

6.50%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$250,540

Cap Rate 7%

$178,957

Cap Rate 9%

$139,189

Alternative Uses

Best Use

Apartment 5plus

$179.0K

$156.6K – $208.8K (±1% cap)

NOI $12,527 @ 7.0% cap · market cap 5.13%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$260.1K

$227.6K – $303.5K (±1% cap)

NOI $18,210 @ 7.0% cap · market cap 7.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

440

Businesses Nearby

Explore this area Business Placement

Demographics for 11751, NY

14,790

Population

5,246

Households

2.8

Avg Household Size

43

Median Age

36%

College-Educated

88%

High-School Grad

4.0 sq mi

ZIP Area

3,698

Density / Sq Mi

$116,328

Median Household Income

$59,558

Median Earnings

$2,238

Median Rent

$501,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Updated co-op with amenities near shopping, dining, and transportation.

Where is this apartment building located?

The property is located at 2449 B #16 A Union Blvd 16A Islip Manor, NY.

What is the asking price?

The asking price for this property is $244,000.

What are key features of this property?

This property features: Updated, deluxe‑size co‑op with open concept layout.; Resort‑style living with pool, clubhouse, and fitness room.; Convenient location near shopping, dining, and transportation.