Elevator Apartment
New
For Sale
$30,000,000
155 Attorney Street, New York, NY 10002
Completed in 2019, the property contains 37 free-market residences in Manhattan’s Lower East Side.
Property Size31,455 SF
Lot Size0.17 Acres
Price / SF$953.74
Days on Market2
Property Features for 155 Attorney Street
General Information
Standard status
Active
Size
31,455 SF
Elevators
Yes
Lot size
0.17 Acres
Property subtype
Multifamily
Zoning
R7A
Additional Details
Multifamily Units
37
Amenities
155 Attorney Street is a 37-unit asset containing Duplex units with private backyards,
100% Free Market | 2019 Construction | Zoning: R7A | Tax Class: 2
The F, M, J, and Z trains at Delancey-Essex Street are nearby, with B and D service at Grand Street.
Building Details
Building Size
31,455 SF
Year Built
2019
Buildings
1
Units
37
Listing Agency:
New York City Office
Listed By:
Joe Koicim · License #License(s): NY: 10301208718
(212) 430-5147
Source:
Marcusmillichap
Added: Sep 30
Last Checked: Oct 1 at 7:56AM
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 New York City Office
Investment Insights
Based on property information with market context.
At 155 Attorney Street, this 2019-built residential property has elevator service and encompasses approximately 31,455 square feet. Its 37 residences are all free-market units. The parcel measures 75' x 100', and the building carries R7A zoning and tax class 2.
The property is in Manhattan’s Lower East Side, between Stanton and Rivington Streets, within a designated Landmark and Historic District.
The property is in Manhattan’s Lower East Side, between Stanton and Rivington Streets, within a designated Landmark and Historic District.
Key Highlights
- 37 free‑market residential units
- Approximately 31,455 square feet of building area
- 2019 construction with elevator service
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
$987,250
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
3.29%
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%
$19,745,000
$19.7M
Cap Rate 7%
$14,103,571
$14.1M
Cap Rate 9%
$10,969,444
$11.0M
Market Conditions
NOI Build-Up for 31,455 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
$1.88M $59.88/SF
− Vacancy
−$88.5K −$2.81/SF
EGI
$1.79M $57.07/SF
− OpEx
−$807.7K −$25.68/SF
NOI
$987.2K $31.39/SF
Area
ZIP 10002
Vacancy
4.70%
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%
$19,745,000
Cap Rate 7%
$14,103,571
Cap Rate 9%
$10,969,444
Alternative Uses
Best Use
Apartment 5plus
$14.10M
$12.34M – $16.45M
NOI $987,250 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$78.30M
$68.51M – $91.35M
NOI $5,480,719 @ 7.0% cap · market cap 18.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
37
Residential units
Location Intelligence
Trade Area within ½ mile
12,691
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Completed in 2019, the property contains 37 free-market residences in Manhattan’s Lower East Side.
Where is this apartment building located?
The property is located at 155 Attorney Street New York, NY.
What is the asking price?
The asking price for this property is $30,000,000.
What are key features of this property?
This property features: 37 free‑market residential units; Approximately 31,455 square feet of building area; 2019 construction with elevator service
