Renovated Residential Income
For Sale
$469,000
140 Cabrini Boulevard 23, New York City, NY 10033
One-bedroom residence with updated kitchen and bath, hardwood flooring, generous storage, and Hudson River views.
Property Size800 SF
Price / SF$586.25
Days on Market18
Property Features for 140 Cabrini Boulevard 23
General Information
Standard status
Active
Size
800 SF
Property subtype
Apartment
Building Details
Building Size
800 SF
Year Built
1939
Listing Agency:
Compass
Listed By:
Jennifer P Pasbjerg
(646) 391-0017
Source:
Howardhannanyc
Added: Sep 8
Changed: Sep 23
Last Checked: Sep 24 at 4:18PM
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.
Residence 23 is a renovated one-bedroom home in a 1939 residential property, with approximately 800 square feet of interior space. The layout includes a flexible entry area, a large living room, a king-sized bedroom, a separate dressing or office area, and generous closet storage. Herringbone oak floors, high ceilings, and three exposures add to the prewar character and natural light.
The windowed kitchen features a passthrough breakfast bar, granite countertops, ceramic tile, mahogany cabinetry, and stainless-steel appliances. The windowed bath has also been fully renovated. In 2025, the walls, ceilings, and doors were freshly painted and the hardwood floors were refinished. The home has views toward the River, gardens, and George Washington Bridge, while Castle Village provides landscaped grounds, walking paths, roof decks, a gym, indoor playspace, garage, community room, laundry facilities, storage, bike storage, doormen, and on-site management.
The windowed kitchen features a passthrough breakfast bar, granite countertops, ceramic tile, mahogany cabinetry, and stainless-steel appliances. The windowed bath has also been fully renovated. In 2025, the walls, ceilings, and doors were freshly painted and the hardwood floors were refinished. The home has views toward the River, gardens, and George Washington Bridge, while Castle Village provides landscaped grounds, walking paths, roof decks, a gym, indoor playspace, garage, community room, laundry facilities, storage, bike storage, doormen, and on-site management.
Key Highlights
- Renovated one‑bedroom residence with approximately 800 square feet of interior space
- Freshly painted and refinished hardwood floors completed in 2025
- Windowed kitchen with passthrough, breakfast bar, granite counters, 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
$25,030
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
5.34%
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%
$500,600
$500.6K
Cap Rate 7%
$357,571
$357.6K
Cap Rate 9%
$278,111
$278.1K
Market Conditions
NOI Build-Up for 800 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
$47.9K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$45.5K $56.89/SF
− OpEx
−$20.5K −$25.60/SF
NOI
$25.0K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
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%
$500,600
Cap Rate 7%
$357,571
Cap Rate 9%
$278,111
Alternative Uses
Best Use
Apartment 5plus
$357.6K
$312.9K – $417.2K
NOI $25,030 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,392 @ 7.0% cap · market cap 29.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,428
Businesses Nearby
Explore this area
Business Placement
Demographics for 10033, NY
50,085
Population
21,338
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
83,475
Density / Sq Mi
$75,585
Median Household Income
$41,655
Median Earnings
$1,742
Median Rent
$709,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with updated kitchen and bath, hardwood flooring, generous storage, and Hudson River views.
Where is this residential income property located?
The property is located at 140 Cabrini Boulevard 23 New York City, NY.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Renovated one‑bedroom residence with approximately 800 square feet of interior space; Freshly painted and refinished hardwood floors completed in 2025; Windowed kitchen with passthrough, breakfast bar, granite counters, and stainless‑steel appliances
