Residential Income Property with
For Sale
$1,999,000
15 Broad Street 3100, New York City, NY 10005
Corner residence with flexible three-bedroom configuration, two full baths, custom storage, and a dedicated secondary living area.
Property Size1,922 SF
Price / SF$1,040
Days on Market97
Property Features for 15 Broad Street 3100
General Information
Standard status
Active
Size
1,922 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$34,105
Amenities
24-hour doorman
concierge
gym
lap pool
hot tub
yoga/dance/martial arts studio
half-court basketball
squash court
bowling alley
locker rooms with sauna
lounge/party room
billiard and ping-pong tables
study
movie screening room
children's play room
roof park with reflecting pool, fireplace, dining tables, lounge chairs
Building Details
Building Size
1,922 SF
Year Built
1914
Year Renovated
2005
Listing Agency:
Compass
(646) 734-7046
Listed By:
Corey M Wecler
(646) 734-7046
Source:
Miradorrealestate
Added: May 6
Changed: Aug 5
Last Checked: Aug 10 at 10:01AM
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 Compass
Investment Insights
Based on property information with market context.
Residence 3100 is a 1,922-square-foot corner home with an open living and dining area, oversized windows, high ceilings, original beam details, and custom built-ins. The kitchen includes white custom cabinetry, a pantry, and an island with seating for two. The current layout provides three bedrooms, a central den or lounge area, a primary suite with custom closets and an en suite bathroom, a second full bathroom, and an in-unit washer and dryer. The original floor plan remains available as a reference for restoring the prior configuration.
15 Broad Street is a 382-unit luxury condominium converted in 2005 from a building constructed in 1914. Amenities include a 24-hour doorman and concierge, fitness facilities, lap pool, hot tub, yoga studio, basketball court, squash court, bowling alley, sauna-equipped locker rooms, screening room, children's playroom, and a 5,000 sf landscaped roof park. The exterior is landmarked, and the building is located across from the NY Stock Exchange in the Financial District.
15 Broad Street is a 382-unit luxury condominium converted in 2005 from a building constructed in 1914. Amenities include a 24-hour doorman and concierge, fitness facilities, lap pool, hot tub, yoga studio, basketball court, squash court, bowling alley, sauna-equipped locker rooms, screening room, children's playroom, and a 5,000 sf landscaped roof park. The exterior is landmarked, and the building is located across from the NY Stock Exchange in the Financial District.
Key Highlights
- 1,922‑square‑foot corner residence with oversized windows and open living and dining areas
- Current layout includes three bedrooms, a central den, and two full bathrooms
- Primary bedroom features custom closets and an en suite bathroom
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
$60,134
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
3.01%
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%
$1,202,680
$1.2M
Cap Rate 7%
$859,057
$859.1K
Cap Rate 9%
$668,156
$668.2K
Market Conditions
NOI Build-Up for 1,922 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
$115.1K $59.88/SF
− Vacancy
−$5.8K −$2.99/SF
EGI
$109.3K $56.89/SF
− OpEx
−$49.2K −$25.60/SF
NOI
$60.1K $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%
$1,202,680
Cap Rate 7%
$859,057
Cap Rate 9%
$668,156
Alternative Uses
Best Use
Apartment 5plus
$859.1K
$751.7K – $1.00M
NOI $60,134 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.78M
$4.19M – $5.58M
NOI $334,889 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
32,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 10005, NY
10,639
Population
6,495
Households
1.6
Avg Household Size
31
Median Age
84%
College-Educated
97%
High-School Grad
0.1 sq mi
ZIP Area
106,390
Density / Sq Mi
$211,810
Median Household Income
$133,727
Median Earnings
$3,501
Median Rent
$1,387,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with flexible three-bedroom configuration, two full baths, custom storage, and a dedicated secondary living area.
Where is this residential income property located?
The property is located at 15 Broad Street 3100 New York City, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 1,922‑square‑foot corner residence with oversized windows and open living and dining areas; Current layout includes three bedrooms, a central den, and two full bathrooms; Primary bedroom features custom closets and an en suite bathroom
