Ten-Unit Apartment
For Sale
$4,800,000
168 1/2 Delancey Street, Manhattan, NY 10002
Residential property with an additional commercial unit and access to Lower East Side transit and retail destinations.
Property Size9,250 SF
Lot Size0.03 Acres
Price / SF$518.92
Days on Market1530
Property Features for 168 1/2 Delancey Street
General Information
Standard status
Active
Size
9,250 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Zoning
C7
Additional Details
Public Transit
Yes
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$60,039
Amenities
No, No, On Street
Partially Finished
Apartment, Bridge(s), Near Public Transportation, Park, Public
28
2+ Common Walls
Square Feet
Near Public Transportation, Bridge View
Yes
No
Brick
On Street, Park, Near Public Transportation, Near Public Transit
Building Details
Year Built
1900
Listing Agency:
Edward J Cuccia
Listed By:
Siu Wai Cheung · License #10401230791
(212) 966-7775
Source:
Compass
Added: Jun 29, 2022
Changed: Sep 2
Last Checked: Sep 4 at 4:37PM
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 Edward J Cuccia
Investment Insights
Based on property information with market context.
Located at 168 1/2 Delancey Street in Manhattan, this apartment building contains 10 residential units alongside 1 commercial unit. The property totals 9,250 square feet on a 25-by-60-foot lot and carries C7 zoning. Built in 1900, the brick structure includes partially finished interior space and a bridge view.
The property is positioned 3 blocks from the Delancey F, M, J and Z train stations, with Essex Market, Regal Essex Crossing, Trader Joe’s and Target nearby. The surrounding area also includes dining, shopping, nightlife and cultural destinations. Essex Crossing and One Manhattan Square are among the large developments in the surrounding area.
The property is positioned 3 blocks from the Delancey F, M, J and Z train stations, with Essex Market, Regal Essex Crossing, Trader Joe’s and Target nearby. The surrounding area also includes dining, shopping, nightlife and cultural destinations. Essex Crossing and One Manhattan Square are among the large developments in the surrounding area.
Key Highlights
- 10 residential units plus 1 commercial unit
- 9,250‑square‑foot property on a 25‑by‑60‑foot lot
- C7 zoning
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
$291,375
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
6.07%
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%
$5,827,500
$5.8M
Cap Rate 7%
$4,162,500
$4.2M
Cap Rate 9%
$3,237,500
$3.2M
Market Conditions
NOI Build-Up for 9,250 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
$555.0K $60.00/SF
− Vacancy
−$88.8K −$9.60/SF
EGI
$466.2K $50.40/SF
− OpEx
−$174.8K −$18.90/SF
NOI
$291.4K $31.50/SF
Area
ZIP 10002
Vacancy
16.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$5,827,500
Cap Rate 7%
$4,162,500
Cap Rate 9%
$3,237,500
Alternative Uses
Best Use
Mixed Use
$4.16M
$3.64M – $4.86M
NOI $291,375 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$4.15M
$3.63M – $4.84M
NOI $290,321 @ 7.0% cap · market cap 6.05%
Theoretical Best
Specialty Retail
$23.02M
$20.15M – $26.86M
NOI $1,611,720 @ 7.0% cap · market cap 33.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
16,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
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 - Residential property with an additional commercial unit and access to Lower East Side transit and retail destinations.
Where is this apartment building located?
The property is located at 168 1/2 Delancey Street Manhattan, NY.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 10 residential units plus 1 commercial unit; 9,250‑square‑foot property on a 25‑by‑60‑foot lot; C7 zoning
