Full-Floor Residential Income
For Sale
$4,995,000
17 W 17TH Street 6, New York City, NY 10011
Expansive loft residence with a keyed elevator, integrated home systems, and adaptable living, dining, and gathering spaces.
Property Size4,700 SF
Price / SF$1,062
Days on Market98
Property Features for 17 W 17TH Street 6
General Information
Standard status
Active
Size
4,700 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Building Size
4,700 SF
Year Built
1915
Listing Agency:
Douglas Elliman Real Estate
(917) 727-6321
Listed By:
Joshua B Rubin · License #30RU0854049
(917) 727-6321
Source:
Howardhannanyc
Added: May 5
Changed: Aug 10
Last Checked: Aug 10 at 10:01AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
The Sixth Floor at 17 W 17th Street is a full-floor loft residence with nearly 4,700 square feet of living space, four bedrooms, a home office, four full baths, and a powder room. A 50-foot-wide south-facing great room is framed by eight oversized windows and provides distinct living, dining, and gathering areas. A keyed elevator opens to a private vestibule. Interior features include Crema Marfil marble floors, custom eight-foot doors, soaring ceilings, CitiQuiet soundproof windows, and Crestron-integrated lighting, climate, and security systems. The kitchen includes custom millwork, substantial stone surfaces, integrated storage, a 60-inch Viking refrigerator and freezer, a Gaggenau cooking suite, and Miele ovens. The primary suite includes a five-fixture bath with a steam shower and hydrotherapy soaking tub. Additional bedrooms have en-suite marble baths, while zoned climate control, whole-home water filtration, and vented laundry support daily living. Built in 1915, the property is near Union Square Greenmarket, multiple subway lines, Whole Foods Market, and Trader Joe's in downtown Manhattan.
Key Highlights
- Nearly 4,700 square feet of full‑floor loft living space
- Four bedrooms, home office, four full baths, and powder room
- 50‑foot‑wide south‑facing great room with eight oversized windows
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
$147,050
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
2.94%
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%
$2,941,000
$2.9M
Cap Rate 7%
$2,100,714
$2.1M
Cap Rate 9%
$1,633,889
$1.6M
Market Conditions
NOI Build-Up for 4,700 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
$281.4K $59.88/SF
− Vacancy
−$14.1K −$2.99/SF
EGI
$267.4K $56.89/SF
− OpEx
−$120.3K −$25.60/SF
NOI
$147.1K $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 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%
$2,941,000
Cap Rate 7%
$2,100,714
Cap Rate 9%
$1,633,889
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $147,050 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.70M
$10.24M – $13.65M
NOI $818,928 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
51,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Expansive loft residence with a keyed elevator, integrated home systems, and adaptable living, dining, and gathering spaces.
Where is this residential income property located?
The property is located at 17 W 17TH Street 6 New York City, NY.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: Nearly 4,700 square feet of full‑floor loft living space; Four bedrooms, home office, four full baths, and powder room; 50‑foot‑wide south‑facing great room with eight oversized windows
