Upper West Side Studio
For Sale
$785,000
155 W 68th Street #616 New York, New York, NY 10023
Spacious 780 sq. ft. studio in Manhattan's Upper West Side.
Property Size780 SF
Lot Size1.50 Acres
Days on Market325
Property Features for 155 W 68th Street #616 New York
General Information
Standard status
Active
Size
780 SF
Lot size
1.50 Acres
Property subtype
Apartment
Building Details
Building Size
780 SF
Year Built
1964
Stories
35
Listing Agency:
Keller Williams NYC
(917) 728-6175
Listed By:
Klevis Metani · License #10401268325
(917) 728-6175
Source:
Kw
Added: Oct 3, 2025
Changed: Aug 8
Last Checked: Aug 23 at 12:53PM
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 Keller Williams NYC
Investment Insights
Based on property information with market context.
This 780 sq. ft. studio apartment is located at 155 West 68th Street in Manhattan’s Upper West Side. The home features versatile living and dining areas and expansive windows that provide natural light. Residents of The Dorchester Tower benefit from a full-service staff, including a 24-hour doorman, concierge, porters, handymen, a resident manager, and an on-site management office. Arrivals are facilitated by a landscaped driveway and porte-cochère, and the lobby has been recently updated. Building amenities include a fully equipped fitness center, a business center with conference facilities, and a landscaped rooftop terrace on the 22nd floor that offers views of the Upper West Side. Laundry rooms are located on floors 2 through 22, with high-capacity machines on the top floor. The building's location provides access to local attractions such as Lincoln Center and Central Park. Transportation options are readily available, and the building is near shops, restaurants, and museums.
Key Highlights
- Prime Upper West Side location near Lincoln Center and Central Park
- Full‑service building with 24‑hour doorman and concierge
- Recently updated lobby and landscaped driveway create an elegant atmosphere
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
$24,504
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
3.12%
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%
$490,080
$490.1K
Cap Rate 7%
$350,057
$350.1K
Cap Rate 9%
$272,267
$272.3K
Market Conditions
NOI Build-Up for 780 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
$46.8K $60.00/SF
− Vacancy
−$2.2K −$2.88/SF
EGI
$44.6K $57.12/SF
− OpEx
−$20.0K −$25.70/SF
NOI
$24.5K $31.42/SF
Area
ZIP 10023
Vacancy
4.80%
Lease Rate
$60.00 /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%
$490,080
Cap Rate 7%
$350,057
Cap Rate 9%
$272,267
Alternative Uses
Best Use
Apartment 5plus
$350.1K
$306.3K – $408.4K
NOI $24,504 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$554.6K
$485.3K – $647.0K
NOI $38,821 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 10023, NY
71,164
Population
46,272
Households
1.5
Avg Household Size
42
Median Age
84%
College-Educated
98%
High-School Grad
1.0 sq mi
ZIP Area
71,164
Density / Sq Mi
$157,866
Median Household Income
$109,508
Median Earnings
$3,050
Median Rent
$1,401,800
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 - Spacious 780 sq. ft. studio in Manhattan's Upper West Side.
Where is this apartment building located?
The property is located at 155 W 68th Street #616 New York New York, NY.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Prime Upper West Side location near Lincoln Center and Central Park; Full‑service building with 24‑hour doorman and concierge; Recently updated lobby and landscaped driveway create an elegant atmosphere
