Residential Income Property with Loft
For Sale
$1,200,000
15 Broad Street 2104, New York City, NY 10005
High-floor condominium residence with flexible office areas, designer finishes, extensive amenities, and northern exposure overlooking historic architecture.
Property Size1,174 SF
Price / SF$1,022
Days on Market97
Property Features for 15 Broad Street 2104
General Information
Standard status
Active
Size
1,174 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$20,832
Amenities
24-hr doorman and concierge
full-scale gym
lap-pool
hot-tub
yoga/dance/martial arts studio
1/2 court basketball
squash court
bowling alley
his and her 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
1,174 SF
Year Built
1914
Year Renovated
2005
Listing Agency:
Compass
(646) 734-7046
Listed By:
Corey M Wecler
(646) 734-7046
Source:
Carytamura
Added: May 21
Changed: Aug 23
Last Checked: Aug 24 at 12:57PM
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.
This 1,174-square-foot residence occupies the 21st floor of 15 Broad, a former 1914 headquarters converted into a 382-unit condominium in 2005. The open layout includes two adaptable office areas, nearly 11-foot beamed ceilings, hardwood floors, integrated storage, northern exposure, and views toward historic architecture. The Philippe Starck-designed kitchen includes a new oven, range hood, and refrigerator, while the marble-finished bathroom provides an upgraded washer and dryer and a built-in linen closet.
Building amenities include a 24-hour doorman and concierge, gym, lap pool, hot tub, yoga and dance studio, half-court basketball, squash court, bowling alley, saunas, lounge, billiards and ping-pong areas, study rooms, screening room, and children's playroom. The seventh-floor Starck Park spans 5,000 square feet and includes landscaping, a reflecting pool, fireplace, dining tables, and lounge seating. The property is located at 15 Broad Street in the Financial District, across from the New York Stock Exchange and near Brookfield Place, South Street Seaport, Whole Foods, Eataly, and Stone Street.
Building amenities include a 24-hour doorman and concierge, gym, lap pool, hot tub, yoga and dance studio, half-court basketball, squash court, bowling alley, saunas, lounge, billiards and ping-pong areas, study rooms, screening room, and children's playroom. The seventh-floor Starck Park spans 5,000 square feet and includes landscaping, a reflecting pool, fireplace, dining tables, and lounge seating. The property is located at 15 Broad Street in the Financial District, across from the New York Stock Exchange and near Brookfield Place, South Street Seaport, Whole Foods, Eataly, and Stone Street.
Key Highlights
- 1,174‑square‑foot residence on the 21st floor
- Open layout with two flexible office areas and nearly 11‑foot beamed ceilings
- Philippe Starck‑designed kitchen and marble‑finished 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
$36,731
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
3.06%
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%
$734,620
$734.6K
Cap Rate 7%
$524,729
$524.7K
Cap Rate 9%
$408,122
$408.1K
Market Conditions
NOI Build-Up for 1,174 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
$70.3K $59.88/SF
− Vacancy
−$3.5K −$2.99/SF
EGI
$66.8K $56.89/SF
− OpEx
−$30.1K −$25.60/SF
NOI
$36.7K $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%
$734,620
Cap Rate 7%
$524,729
Cap Rate 9%
$408,122
Alternative Uses
Best Use
Apartment 5plus
$524.7K
$459.1K – $612.2K
NOI $36,731 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.92M
$2.56M – $3.41M
NOI $204,558 @ 7.0% cap · market cap 17.05%
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 - High-floor condominium residence with flexible office areas, designer finishes, extensive amenities, and northern exposure overlooking historic architecture.
Where is this residential income property located?
The property is located at 15 Broad Street 2104 New York City, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1,174‑square‑foot residence on the 21st floor; Open layout with two flexible office areas and nearly 11‑foot beamed ceilings; Philippe Starck‑designed kitchen and marble‑finished bathroom
