8-Story Mixed-Use Elevator
For Sale
Contact for pricing
153 East 26th Street, New York, NY 10010
Fifteen-unit mixed-use property with ground-floor retail and an on-site elevator in an R8B-zoned building.
Property Size15,800 SF
Lot Size0.05 Acres
Price / SF$743.67
Days on Market124
Property Features for 153 East 26th Street
General Information
Standard status
Active
Size
15,800 SF
Lot size
0.05 Acres
Property subtype
Multifamily, Retail
Zoning
R8, New York
Net Operating Income
$740,250
Additional Details
Multifamily Units
14
Amenities
elevator
virtual doorman
security system
Building Details
Year Built
1905
Year Renovated
1987
Buildings
1
Stories
8
Units
15
Tenancy
Multi
Listing Agency:
Marcus & Millichap
Listed By:
Logan Markley · License #NY 10401268674
Source:
Crexi
Added: May 8
Changed: Aug 22
Last Checked: Sep 8 at 7:48AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This 15-unit mixed-use property features approximately 15,800 square feet and includes 20 feet of frontage on a 20’ x 98.75’ lot. The building is structured as an 8-story elevator property and contains 1 retail unit and 14 residential units made up of one one-bedroom unit, three two-bedroom units, and ten three-bedroom units. Three of the residential units are rent regulated while the remaining 11 are free-market. The retail space is occupied by Little Basil Thai Restaurant.
The property is located on the north side of 26th Street between Third Avenue and Lexington Avenue, and it is zoned R8B. Ownership has completed several capital improvements within the past three years, including elevator modernization (mechanical systems, controls, and safety systems), replacement of the water tower, and significant façade work such as reinforcing steel beams, replacing steel lintels, and upgrading the parapet. The hallways and stairs have also been updated with modern finishes, and security upgrades include a virtual doorman via the ButterflyMX Comelit system and an ADR security system.
For tenant-ready residential convenience, the free-market units have been newly renovated and include in-unit washers and dryers, dishwashers, stainless steel appliances, and individual HVAC units. The property’s regulated units include one one-bedroom, one two-bedroom, and one three-bedroom unit, which are noted as scheduled to become free market upon vacancy due to an expired J-51 tax abatement.
The property is located on the north side of 26th Street between Third Avenue and Lexington Avenue, and it is zoned R8B. Ownership has completed several capital improvements within the past three years, including elevator modernization (mechanical systems, controls, and safety systems), replacement of the water tower, and significant façade work such as reinforcing steel beams, replacing steel lintels, and upgrading the parapet. The hallways and stairs have also been updated with modern finishes, and security upgrades include a virtual doorman via the ButterflyMX Comelit system and an ADR security system.
For tenant-ready residential convenience, the free-market units have been newly renovated and include in-unit washers and dryers, dishwashers, stainless steel appliances, and individual HVAC units. The property’s regulated units include one one-bedroom, one two-bedroom, and one three-bedroom unit, which are noted as scheduled to become free market upon vacancy due to an expired J-51 tax abatement.
Key Highlights
- 15‑unit mixed‑use building with ~15,800 SF and 20’ frontage on E 26th St between Third Ave and Lexington Ave
- Unit mix: 1 retail unit plus 10 three‑bedroom, 3 two‑bedroom, and 1 one‑bedroom apartments
- Ground‑floor retail occupied by Little Basil Thai Restaurant; lease renewed for 10 years at ~ $13,000/month with 3% annual increases
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
$494,339
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
4.21%
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%
$9,886,780
$9.9M
Cap Rate 7%
$7,061,986
$7.1M
Cap Rate 9%
$5,492,656
$5.5M
Market Conditions
NOI Build-Up for 15,800 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
$946.1K $59.88/SF
− Vacancy
−$47.3K −$2.99/SF
EGI
$898.8K $56.89/SF
− OpEx
−$404.5K −$25.60/SF
NOI
$494.3K $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%
$9,886,780
Cap Rate 7%
$7,061,986
Cap Rate 9%
$5,492,656
Alternative Uses
Best Use
Specialty Retail
$39.33M
$34.41M – $45.88M
NOI $2,752,992 @ 7.0% cap · market cap 23.43%
Second Best
Apartment 5plus
$7.06M
$6.18M – $8.24M
NOI $494,339 @ 7.0% cap · market cap 4.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
60,314
Businesses Nearby
Explore this area
Business Placement
Demographics for 10010, NY
33,991
Population
19,014
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
84,978
Density / Sq Mi
$156,127
Median Household Income
$109,691
Median Earnings
$3,113
Median Rent
$1,037,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fifteen-unit mixed-use property with ground-floor retail and an on-site elevator in an R8B-zoned building.
Where is this apartment building located?
The property is located at 153 East 26th Street New York, NY.
What is the asking price?
The asking price for this property is $11,750,000.
What are key features of this property?
This property features: 15‑unit mixed‑use building with ~15,800 SF and 20’ frontage on E 26th St between Third Ave and Lexington Ave; Unit mix: 1 retail unit plus 10 three‑bedroom, 3 two‑bedroom, and 1 one‑bedroom apartments; Ground‑floor retail occupied by Little Basil Thai Restaurant; lease renewed for 10 years at ~ $13,000/month with 3% annual increases
