Full-Floor Residential Income
For Sale
$4,995,000
17 W 17th St Unit 6, New York, NY 10011
Four-bedroom Manhattan residence with smart-home systems, private elevator access, and expansive entertaining space.
Property Size4,700 SF
Price / SF$1,062
Days on Market8
Property Features for 17 W 17th St Unit 6
General Information
Standard status
Active
Size
4,700 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Year Built
1915
Stories
11
Units
6
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Joshua B Rubin (josh@rubinteam.com)
Source:
Edifyny
Added: Aug 29
Last Checked: Sep 5 at 8:25AM
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.
Located at 17 W 17th St Unit 6 in New York, this full-floor residence occupies a 1915 building and includes four bedrooms, a home office, four full bathrooms, and a powder room. A 50-foot-wide south-facing great room is arranged for living, dining, and entertaining, with eight oversized windows supplying abundant natural light. Keyed elevator access opens to a private vestibule, while Crestron-integrated controls manage lighting, climate, and security.
The kitchen combines custom millwork, stone surfaces, integrated storage, and a 60-inch Viking refrigerator and freezer with Gaggenau and Miele appliances. The primary suite measures 25 feet and includes a five-fixture bath with a steam shower and hydrotherapy soaking tub. Additional bedrooms have en-suite marble baths. Zoned climate control, whole-home water filtration, vented laundry, Crema Marfil marble flooring, custom eight-foot doors, and CitiQuiet windows complete the interior improvements.
The property is near the Union Square Greenmarket, multiple subway lines, Whole Foods Market, and Trader Joe’s, with dining, shopping, and cultural destinations nearby.
The kitchen combines custom millwork, stone surfaces, integrated storage, and a 60-inch Viking refrigerator and freezer with Gaggenau and Miele appliances. The primary suite measures 25 feet and includes a five-fixture bath with a steam shower and hydrotherapy soaking tub. Additional bedrooms have en-suite marble baths. Zoned climate control, whole-home water filtration, vented laundry, Crema Marfil marble flooring, custom eight-foot doors, and CitiQuiet windows complete the interior improvements.
The property is near the Union Square Greenmarket, multiple subway lines, Whole Foods Market, and Trader Joe’s, with dining, shopping, and cultural destinations nearby.
Key Highlights
- Full‑floor residence with four bedrooms, a home office, four full baths, and a powder room
- 50‑foot‑wide south‑facing great room with eight oversized windows
- Keyed elevator access, Crestron‑integrated lighting, climate, and security controls
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
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 - Four-bedroom Manhattan residence with smart-home systems, private elevator access, and expansive entertaining space.
Where is this residential income property located?
The property is located at 17 W 17th St Unit 6 New York, 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: Full‑floor residence with four bedrooms, a home office, four full baths, and a powder room; 50‑foot‑wide south‑facing great room with eight oversized windows; Keyed elevator access, Crestron‑integrated lighting, climate, and security controls
