Mixed-Use Townhome with
For Sale
$9,900,000
60 GREENWICH Ave, New York, NY 10011
Three free-market apartments sit above a ground-floor restaurant, with additional lower-level space.
Property Size1,500 SF
Price / SF$2,538
Days on Market48
Property Features for 60 GREENWICH Ave
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$109,320
Building Details
Building Size
1,500 SF
Year Built
1920
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Chikako Fissel · License #10401251278
(212) 891-7255
Source:
Elliman
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 5 at 1:12PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This multi-family townhome offers three free-market residential apartments above a ground-floor restaurant space, plus additional lower-level space. The residential component includes studio, one-bedroom, and two-bedroom layouts. Interior finishes include cherry hardwood flooring, custom kitchen cabinetry, stainless steel appliances, and premium bathroom fixtures.
The property is positioned in the heart of the West Village along a retail corridor between Perry Street and West 11th Street. The offering is described as enjoying strong access to nearby employment and retail destinations, with connectivity to SoHo, Union Square, Chelsea, and New York University.
The property is positioned in the heart of the West Village along a retail corridor between Perry Street and West 11th Street. The offering is described as enjoying strong access to nearby employment and retail destinations, with connectivity to SoHo, Union Square, Chelsea, and New York University.
Key Highlights
- Mixed‑use building with 3 free‑market residential apartments above a ground‑floor restaurant space
- Approx. 3,900 SF plus lower‑level space with residential units in studio, 1‑bedroom, and 2‑bedroom layouts
- Interior finishes include cherry hardwood flooring, custom kitchen cabinetry, and stainless steel appliances
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
$679,536
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
6.86%
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%
$13,590,720
$13.6M
Cap Rate 7%
$9,707,657
$9.7M
Cap Rate 9%
$7,550,400
$7.6M
Market Conditions
NOI Build-Up for 3,900 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
$1.03M $264.00/SF
− Vacancy
−$123.6K −$31.68/SF
EGI
$906.0K $232.32/SF
− OpEx
−$226.5K −$58.08/SF
NOI
$679.5K $174.24/SF
Area
New York, NY
Vacancy
12.00%
Lease Rate
$264.00 /SF/Yr
Expense Ratio
25.00%
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%
$13,590,720
Cap Rate 7%
$9,707,657
Cap Rate 9%
$7,550,400
Alternative Uses
Best Use
Specialty Retail
$9.71M
$8.49M – $11.33M
NOI $679,536 @ 7.0% cap · market cap 6.86%
Second Best
Multifamily LT 5
$1.89M
$1.65M – $2.20M
NOI $131,990 @ 7.0% cap · market cap 1.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
36,039
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three free-market apartments sit above a ground-floor restaurant, with additional lower-level space.
Where is this triplex located?
The property is located at 60 GREENWICH Ave New York, NY.
What is the asking price?
The asking price for this property is $9,900,000.
What are key features of this property?
This property features: Mixed‑use building with 3 free‑market residential apartments above a ground‑floor restaurant space; Approx. 3,900 SF plus lower‑level space with residential units in studio, 1‑bedroom, and 2‑bedroom layouts; Interior finishes include cherry hardwood flooring, custom kitchen cabinetry, and stainless steel appliances
