Studio Residential Income
For Sale
$750,000
171 Henry Street 3A, New York City, NY 10002
Condominium studio with flexible living areas, park views, and in-unit laundry in a boutique Lower East Side building.
Property Size690 SF
Price / SF$1,086
Days on Market19
Property Features for 171 Henry Street 3A
General Information
Standard status
Active
Size
690 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,502
Building Details
Building Size
690 SF
Year Built
2017
Listing Agency:
Compass
(929) 429-0059
Listed By:
Megan Cipollini
(929) 429-0059
Source:
Cbwarburg
Added: Aug 6
Changed: Aug 23
Last Checked: Aug 24 at 1:53PM
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 Compass
Investment Insights
Based on property information with market context.
Residence 3A is a 690-square-foot studio condominium in a 2017 boutique building. The interior includes 9'6" ceilings, oversized north-facing windows, matte hardwood floors, and a partition wall that separates the sleeping area from the main living space. The layout accommodates dining, work, and entertaining areas, while the open kitchen provides abundant cabinetry, granite countertops, and stainless steel appliances. A tile-finished bathroom, in-unit washer/dryer, and individually controlled heating and air conditioning complete the residence.
The home overlooks Seward Park and is near the Seward Park Library, Manny Cantor Center, Essex Market, and Trader Joe's. The East Broadway F train is nearby, along with restaurants and neighborhood services on the Lower East Side. The adjacent 3B residence is also available, with any combination subject to condominium approval and applicable requirements.
The home overlooks Seward Park and is near the Seward Park Library, Manny Cantor Center, Essex Market, and Trader Joe's. The East Broadway F train is nearby, along with restaurants and neighborhood services on the Lower East Side. The adjacent 3B residence is also available, with any combination subject to condominium approval and applicable requirements.
Key Highlights
- 690‑square‑foot studio condominium in a 2017 building
- 9'6" ceilings and oversized north‑facing windows overlooking Seward Park
- Partition wall creates a separate sleeping area within the studio layout
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
$21,656
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
2.89%
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%
$433,120
$433.1K
Cap Rate 7%
$309,371
$309.4K
Cap Rate 9%
$240,622
$240.6K
Market Conditions
NOI Build-Up for 690 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
$41.3K $59.88/SF
− Vacancy
−$1.9K −$2.81/SF
EGI
$39.4K $57.07/SF
− OpEx
−$17.7K −$25.68/SF
NOI
$21.7K $31.39/SF
Area
ZIP 10002
Vacancy
4.70%
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%
$433,120
Cap Rate 7%
$309,371
Cap Rate 9%
$240,622
Alternative Uses
Best Use
Apartment 5plus
$309.4K
$270.7K – $360.9K
NOI $21,656 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.00M
NOI $120,226 @ 7.0% cap · market cap 16.03%
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
17,183
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium studio with flexible living areas, park views, and in-unit laundry in a boutique Lower East Side building.
Where is this residential income property located?
The property is located at 171 Henry Street 3A New York City, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 690‑square‑foot studio condominium in a 2017 building; 9'6" ceilings and oversized north‑facing windows overlooking Seward Park; Partition wall creates a separate sleeping area within the studio layout
