East Harlem Mixed-Use
For Sale
Contact for pricing
Pending
1674 Park Ave New York, Ny, NY 10035
Mixed-use building with commercial and residential units in Manhattan.
Property Size11,100 SF
Days on Market232
Property Features for 1674 Park Ave New York
General Information
Standard status
Pending
Size
11,100 SF
Property subtype
Mixed Use, Multifamily, Retail
Listing Agency:
Maltz Auctions
(516) 349-7022
Listed By:
Richard Maltz · License #NY 10311204111
Source:
Crexi
Added: Jan 1
Changed: Aug 14
Last Checked: Aug 20 at 8:45AM
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 Maltz Auctions
Investment Insights
Based on property information with market context.
This mixed-use building is located at the corner of East 118th Street and Park Avenue in East Harlem, Manhattan. The 6-story building features an elevator and a total area of 11,100 square feet. It comprises 13 residential units totaling 8,875 square feet and 3 commercial units totaling 2,225 square feet. Two commercial units are on the ground level, and one is below grade, which is currently vacant and was previously used as a recording studio. The property is situated only 3 blocks from the 6 train. The zoning district is R8A with a C2-5 commercial overlay. The FAR as-built is 4.0. The current rent roll is over $425,000, with a projected annual rent roll of over $460,000.
Key Highlights
- High Current Rent Roll: $425,000+
- Mixed‑Use Building featuring 3 Commercial & 13 Residential Units
- Prime Location: Corner of East 118th Street and Park Avenue, East Harlem
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
$353,813
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
7.30%
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%
$7,076,260
$7.1M
Cap Rate 7%
$5,054,471
$5.1M
Cap Rate 9%
$3,931,256
$3.9M
Market Conditions
NOI Build-Up for 11,100 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
$666.0K $60.00/SF
− Vacancy
−$99.9K −$9.00/SF
EGI
$566.1K $51.00/SF
− OpEx
−$212.3K −$19.13/SF
NOI
$353.8K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$7,076,260
Cap Rate 7%
$5,054,471
Cap Rate 9%
$3,931,256
Alternative Uses
Best Use
Mixed Use
$5.05M
$4.42M – $5.90M
NOI $353,813 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$4.96M
$4.34M – $5.79M
NOI $347,289 @ 7.0% cap · market cap 7.16%
Theoretical Best
Specialty Retail
$27.63M
$24.18M – $32.23M
NOI $1,934,064 @ 7.0% cap · market cap 39.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with commercial and residential units in Manhattan.
Where is this mixed-use property located?
The property is located at 1674 Park Ave New York Ny, NY.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: High Current Rent Roll: $425,000+; Mixed‑Use Building featuring 3 Commercial & 13 Residential Units; Prime Location: Corner of East 118th Street and Park Avenue, East Harlem
