Building Details

Building Size 780 SF

Year Built 1964

Stories 35

Listing Agency: Keller Williams NYC

Listed By: Klevis Metani · License #10401268325 Show Phone

Source: Kw

Added: Oct 3, 2025 Changed: Oct 6 Last Checked: Oct 7 at 9:35AM

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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 / Yr

$24,504

Cap Rate

3.12%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $38,821 @ 7.0% cap · market cap 4.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

William Wolf Features, ... Professional Services Pamela West, Esq Law Firm Aging In Place Funding Consultant Joseph Adler Dental Office Forrest David MD Physician

Suggested Use

Top Pick Barber Shop Grocery & Convenience Store Butcher Nursing Home (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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