Prewar Loft Residence with Private
138-140 W 124TH ST Unit 2A New York, NY 10027
For Sale
$1,695,000
A private elevator opens into a prewar loft with 13.5' ceilings, north-facing windows, and a chef’s kitchen.
Property Size1,946 SF
Price / SF$871.02
Days on Market180
Property Features for 138-140 W 124TH ST Unit 2A
General Information
Standard status
Active
Size
1,946 SF
Property subtype
Apartment
Building Details
Year Built
1906
Listing Agency:
ALTA Real Estate
(917) 204-6577
Listed By:
Rick Kelly
(917) 204-6577
Source:
Xome
Added: Jan 31
Changed: Jul 21
Last Checked: Jul 29 at 4:01AM
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 ALTA Real Estate
Investment Insights
Based on property information with market context.
Residence 2A at Loft 124 is a prewar condo loft originally built in 1906 and transformed into condominiums in 2004. A private elevator opens directly into the residence, leading to a grand living and dining room with soaring 13.5' terracotta brick ceilings, expansive 10' north-facing windows, and a gas fireplace. The open layout connects the great room to a chef’s kitchen featuring Vagli marble countertops, a 6-burner Viking range, Sub-Zero refrigeration, and a built-in wine refrigerator.
The home is currently configured as a 2-bedroom layout with a home office, with a 50' corridor offering multiple closets and a full-size washer/dryer. The primary suite includes exposed brick, a private balcony, a custom oversized dressing room, and a spa-like bath with a Duravit soaking tub, double vanity, and separate shower. Additional features include central heating and air-conditioning, bamboo floors, and an oversized private storage room (7' x 14').
Loft 124 is a 21-residence boutique building offering a full-time superintendent, virtual doorman, fitness room, bike storage, and two roof decks. The property is located near the 2/3 express at 125th Street, Whole Foods, and multiple subway lines (A/B/C/D/4/5/6).
The home is currently configured as a 2-bedroom layout with a home office, with a 50' corridor offering multiple closets and a full-size washer/dryer. The primary suite includes exposed brick, a private balcony, a custom oversized dressing room, and a spa-like bath with a Duravit soaking tub, double vanity, and separate shower. Additional features include central heating and air-conditioning, bamboo floors, and an oversized private storage room (7' x 14').
Loft 124 is a 21-residence boutique building offering a full-time superintendent, virtual doorman, fitness room, bike storage, and two roof decks. The property is located near the 2/3 express at 125th Street, Whole Foods, and multiple subway lines (A/B/C/D/4/5/6).
Key Highlights
- Prewar condo loft built in 1906 and converted into condominiums in 2004 at Loft 124 (21‑residence boutique building).
- Private elevator opens directly into the residence.
- Soaring 13.5' terracotta brick ceilings with expansive 10' north‑facing windows and a gas fireplace in the living/dining area.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.5k | $59.88 |
| − Vacancy | −$5.8k | −$2.99 |
| EGI | $110.7k | $56.89 |
| − OpEx | −$49.8k | −$25.60 |
| NOI | $60.9k | $31.29 |
1,946 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$869.8K
$761.1K – $1.01M
NOI $60,885 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.84M
$4.24M – $5.65M
NOI $339,071 @ 7.0% cap · market cap 20.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Residential income property - A private elevator opens into a prewar loft with 13.5' ceilings, north-facing windows, and a chef’s kitchen.
Where is this residential income property located?
The property is located at 138-140 W 124TH ST Unit 2A New York, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Prewar condo loft built in 1906 and converted into condominiums in 2004 at Loft 124 (21‑residence boutique building).; Private elevator opens directly into the residence.; Soaring 13.5' terracotta brick ceilings with expansive 10' north‑facing windows and a gas fireplace in the living/dining area.
