Duplex Live-Work
For Sale
$1,945,000
136 Baxter Street 1B, New York City, NY 10013
Two entrances and separate levels support client-facing activity alongside private workspace and storage.
Property Size1,707 SF
Price / SF$1,139
Days on Market204
Property Features for 136 Baxter Street 1B
General Information
Standard status
Active
Size
1,707 SF
Property subtype
Apartment
Additional Details
Floor
1B
HOA Fee
$1,690
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$34,620
Amenities
virtual doorman
package room
full-time superintendent
Building Details
Building Size
1,707 SF
Year Built
1915
Year Renovated
2007
Construction
prewar
Listing Agency:
Compass
Listed By:
Nicholas H Gavin
(646) 610-3055
Source:
Howardhannanyc
Added: Feb 25
Changed: Sep 17
Last Checked: Sep 17 at 12:41AM
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.
Unit 1B is a 1,707-square-foot duplex live-work condominium with a gallery-scale upper level and a dedicated lower workspace. The main floor features 14-foot pine ceilings, warehouse-style windows, exposed brick, original finishes, a kitchenette, and a cast-iron stairway connecting to additional storage and built-ins. Two independent entrances provide access through a private street entry or the building lobby, supporting separation between public-facing and back-of-house functions.
Constructed in 1915 and converted in 2007, the mixed-use condominium contains 14 units and includes a virtual doorman, package room, and full-time superintendent. The property is located at 136 Baxter Street in New York City’s 10013 ZIP code, near SoHo, TriBeCa, Nolita, Chinatown, dining, cultural institutions, and major transit lines. The commercial unit is available for use as a creative studio, showroom, office, or related live-work configuration, subject to applicable review.
Constructed in 1915 and converted in 2007, the mixed-use condominium contains 14 units and includes a virtual doorman, package room, and full-time superintendent. The property is located at 136 Baxter Street in New York City’s 10013 ZIP code, near SoHo, TriBeCa, Nolita, Chinatown, dining, cultural institutions, and major transit lines. The commercial unit is available for use as a creative studio, showroom, office, or related live-work configuration, subject to applicable review.
Key Highlights
- 1,707 SF duplex commercial live‑work condominium
- 14‑foot pine ceilings, oversized warehouse‑style windows, exposed brick, and original finishes
- Two independent entrances: private street entry and building lobby access
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
$54,411
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
2.80%
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%
$1,088,220
$1.1M
Cap Rate 7%
$777,300
$777.3K
Cap Rate 9%
$604,567
$604.6K
Market Conditions
NOI Build-Up for 1,707 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
$102.4K $60.00/SF
− Vacancy
−$15.4K −$9.00/SF
EGI
$87.1K $51.00/SF
− OpEx
−$32.6K −$19.13/SF
NOI
$54.4K $31.88/SF
Area
New York, NY
Vacancy
15.00%
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%
$1,088,220
Cap Rate 7%
$777,300
Cap Rate 9%
$604,567
Alternative Uses
Best Use
Mixed Use
$777.3K
$680.1K – $906.9K
NOI $54,411 @ 7.0% cap · market cap 2.80%
Second Best
Office B
$763.6K
$668.1K – $890.9K
NOI $53,451 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$4.25M
$3.72M – $4.96M
NOI $297,428 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
36,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Live-work space - Two entrances and separate levels support client-facing activity alongside private workspace and storage.
Where is this live-work space located?
The property is located at 136 Baxter Street 1B New York City, NY.
What is the asking price?
The asking price for this property is $1,945,000.
What are key features of this property?
This property features: 1,707 SF duplex commercial live‑work condominium; 14‑foot pine ceilings, oversized warehouse‑style windows, exposed brick, and original finishes; Two independent entrances: private street entry and building lobby access
