Seven-Story Mixed-Use Apartment
For Sale
Contact for pricing
160 Front St, New York, NY 10038
Seven-story property includes 62 apartments and a high-visibility street-level Starbucks storefront.
Property Size53,000 SF
Price / SF$471.70
Days on Market183
Property Features for 160 Front St
General Information
Standard status
Active
Size
53,000 SF
Class
B
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Multifamily Units
62
Building Details
Stories
7
Units
62
Tenancy
Single
Listing Agency:
Norman Bobrow & Co. Inc.
Listed By:
Jonathan Kershner · License #NY 10401279641
(212) 682-9714
Source:
Crexi
Added: Apr 22
Changed: Oct 1
Last Checked: Oct 20 at 8:02PM
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 Norman Bobrow & Co. Inc.
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Investment Insights
Based on property information with market context.
This seven-story mixed-use property offers 62 residential units and street-level retail anchored by a high-visibility Starbucks on the Water Street frontage. The residential component is comprised of 41 free-market and 21 rent-stabilized apartments, with a unit mix of 34 studios, 22 one-bedrooms, 4 two-bedrooms, and 2 two-bedroom penthouses.
The property also includes 81,813 SF of total expansion potential, with unused floor area identified as 41,980 SF of residential growth capacity and 39,833 SF of commercial growth capacity.
For access, the property is positioned approximately two blocks from the Pier 11/Wall Street Ferry Terminal and about a six-minute walk from the Fulton Street Transit Center, offering extensive subway connectivity via the 2, 3, 4, 5, A, C, J, and Z lines.
The property also includes 81,813 SF of total expansion potential, with unused floor area identified as 41,980 SF of residential growth capacity and 39,833 SF of commercial growth capacity.
For access, the property is positioned approximately two blocks from the Pier 11/Wall Street Ferry Terminal and about a six-minute walk from the Fulton Street Transit Center, offering extensive subway connectivity via the 2, 3, 4, 5, A, C, J, and Z lines.
Key Highlights
- Seven‑story elevator building with 62 residential units: 41 free‑market and 21 rent‑stabilized apartments
- Unit mix: 34 studios, 22 one‑bedrooms, 4 two‑bedrooms, and 2 two‑bed penthouses
- $118,326 in preferential rents within the stabilized component
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,658,227
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$33,164,540
$33.2M
Cap Rate 7%
$23,688,957
$23.7M
Cap Rate 9%
$18,424,744
$18.4M
Market Conditions
NOI Build-Up for 53,000 SF
Gross rent
$3.17M $59.88/SF
− Vacancy
−$158.7K −$2.99/SF
EGI
$3.01M $56.89/SF
− OpEx
−$1.36M −$25.60/SF
NOI
$1.66M $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 Rate 5%
$33,164,540
Cap Rate 7%
$23,688,957
Cap Rate 9%
$18,424,744
Alternative Uses
Best Use
Retail
$106.55M
$93.23M – $124.31M
NOI $7,458,400 @ 7.0% cap · market cap 29.83%
Second Best
Apartment 5plus
$23.69M
$20.73M – $27.64M
NOI $1,658,227 @ 7.0% cap · market cap 6.63%
Theoretical Best
Specialty Retail
$131.92M
$115.43M – $153.91M
NOI $9,234,720 @ 7.0% cap · market cap 36.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
62
Residential units
Location Intelligence
Trade Area within ½ mile
28,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-story property includes 62 apartments and a high-visibility street-level Starbucks storefront.
Where is this apartment building located?
The property is located at 160 Front St New York, NY.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: Seven‑story elevator building with 62 residential units: 41 free‑market and 21 rent‑stabilized apartments; Unit mix: 34 studios, 22 one‑bedrooms, 4 two‑bedrooms, and 2 two‑bed penthouses; $118,326 in preferential rents within the stabilized component
