Residential Income Property with Loft
For Sale
$1,100,000
15 Broad Street 1630, New York City, NY 10005
Flexible downtown residence with open interiors, two adaptable rooms, custom storage, and extensive condominium amenities.
Property Size1,418 SF
Price / SF$775.74
Days on Market132
Property Features for 15 Broad Street 1630
General Information
Standard status
Active
Size
1,418 SF
Property subtype
Apartment
Additional Details
HOA Fee
$413.52
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$24,612
Amenities
24-hour doorman and concierge
fitness center
lap pool and hot tub
yoga/dance studio
half-court basketball
squash court
bowling alley
spa-quality locker rooms with saunas
residents' lounge
billiards and ping-pong tables
screening room
children's playroom
study spaces
Starck Park
in-unit washer and dryer
Building Details
Building Size
1,418 SF
Year Built
1914
Year Renovated
2005
Buildings
1
Listing Agency:
Sothebys International Realty
(917) 626-2529
Listed By:
Rachel B Altschuler · License #10301201527
(917) 626-2529
Source:
Miradorrealestate
Added: Apr 15
Changed: Aug 23
Last Checked: Aug 24 at 1:38PM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
This residential income property is a loft-style residence offering approximately 1,418 square feet of open living space. The layout includes two interior rooms that can function as offices or sleeping areas, along with hardwood flooring, high ceilings, custom storage, architectural detailing, and an in-unit washer and dryer. A minimalist bathroom features Starck-designed finishes.
The residence is located at 15 Broad Street between Wall Street and Exchange Place, directly across from the New York Stock Exchange. The building was constructed in 1914 and converted in 2005 into a 382-unit luxury condominium with a landmarked facade. Amenities include a 24-hour doorman and concierge, fitness center, lap pool, hot tub, yoga and dance studio, half-court basketball, squash court, bowling alley, screening room, residents’ lounge, children’s playroom, study areas, and locker rooms with saunas.
A 5,000-square-foot landscaped seventh-floor garden includes a reflecting pool, fireplace, dining areas, and lounge seating overlooking the NYSE. The Financial District setting also provides access to retail, dining, entertainment, transportation, and waterfront parks.
The residence is located at 15 Broad Street between Wall Street and Exchange Place, directly across from the New York Stock Exchange. The building was constructed in 1914 and converted in 2005 into a 382-unit luxury condominium with a landmarked facade. Amenities include a 24-hour doorman and concierge, fitness center, lap pool, hot tub, yoga and dance studio, half-court basketball, squash court, bowling alley, screening room, residents’ lounge, children’s playroom, study areas, and locker rooms with saunas.
A 5,000-square-foot landscaped seventh-floor garden includes a reflecting pool, fireplace, dining areas, and lounge seating overlooking the NYSE. The Financial District setting also provides access to retail, dining, entertainment, transportation, and waterfront parks.
Key Highlights
- Approximately 1,418+/- square feet with an open‑concept loft layout
- Two interior rooms offer flexible office or sleeping‑area configurations
- Hardwood floors, soaring ceilings, custom storage, and in‑unit washer and dryer
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
$44,365
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
4.03%
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%
$887,300
$887.3K
Cap Rate 7%
$633,786
$633.8K
Cap Rate 9%
$492,944
$492.9K
Market Conditions
NOI Build-Up for 1,418 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
$84.9K $59.88/SF
− Vacancy
−$4.2K −$2.99/SF
EGI
$80.7K $56.89/SF
− OpEx
−$36.3K −$25.60/SF
NOI
$44.4K $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%
$887,300
Cap Rate 7%
$633,786
Cap Rate 9%
$492,944
Alternative Uses
Best Use
Apartment 5plus
$633.8K
$554.6K – $739.4K
NOI $44,365 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.53M
$3.09M – $4.12M
NOI $247,072 @ 7.0% cap · market cap 22.46%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Flexible downtown residence with open interiors, two adaptable rooms, custom storage, and extensive condominium amenities.
Where is this residential income property located?
The property is located at 15 Broad Street 1630 New York City, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 1,418+/- square feet with an open‑concept loft layout; Two interior rooms offer flexible office or sleeping‑area configurations; Hardwood floors, soaring ceilings, custom storage, and in‑unit washer and dryer
