Adjacent Studio Condominium
171 Henry Street 3AB, New York City, NY 10002
For Sale
$1,500,000
Two separate condominium units are offered together with potential for future combination, subject to required approvals.
Property Size1,374 SF
Price / SF$1,091
Days on Market96
Property Features for 171 Henry Street 3AB
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
in-unit washer/dryer
individually controlled heating and air conditioning
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Compass
Listed By:
Megan Cipollini
(929) 429-0059
Source:
Nilelundgren
Added: Aug 6
Changed: Oct 31
Last Checked: Nov 8 at 3:11PM
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
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Investment Insights
Based on property information with market context.
Offered together, Units 3A and 3B comprise two adjacent studio condominium residences totaling 1,374 SF. Each unit features a 9'6" ceiling height, oversized windows with treetop views toward Seward Park, an open layout, maple cabinetry, granite countertops, stainless steel appliances, a spa-style bathroom, matte hardwood flooring, an in-unit washer/dryer, and individually controlled heating and air conditioning. The residences were completed in 2017 and remain separate condominium units, each with its own tax lot, common charges, and real estate taxes.
The property is located on Henry Street in the Lower East Side, near the East Broadway F train. Seward Park, Seward Park Library, the Manny Cantor Center, Essex Market, and Trader Joe's are nearby. A future combination may be explored, but any alteration would require review and approval by the condominium board and applicable governmental authorities.
The property is located on Henry Street in the Lower East Side, near the East Broadway F train. Seward Park, Seward Park Library, the Manny Cantor Center, Essex Market, and Trader Joe's are nearby. A future combination may be explored, but any alteration would require review and approval by the condominium board and applicable governmental authorities.
Key Highlights
- Two adjacent studio condominium units offered together
- 1,374 SF combined residential area
- 9'6" ceilings and oversized windows with Seward Park treetop views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,125
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$862,500
$862.5K
Cap Rate 7%
$616,071
$616.1K
Cap Rate 9%
$479,167
$479.2K
Market Conditions
NOI Build-Up for 1,374 SF
Gross rent
$82.3K $59.88/SF
− Vacancy
−$3.9K −$2.81/SF
EGI
$78.4K $57.07/SF
− OpEx
−$35.3K −$25.68/SF
NOI
$43.1K $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 Rate 5%
$862,500
Cap Rate 7%
$616,071
Cap Rate 9%
$479,167
Alternative Uses
Best Use
Apartment 5plus
$616.1K
$539.1K – $718.8K
NOI $43,125 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$960.6K
$840.5K – $1.12M
NOI $67,241 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
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
$808,500
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Two separate condominium units are offered together with potential for future combination, subject to required approvals.
Where is this residential income property located?
The property is located at 171 Henry Street 3AB New York City, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two adjacent studio condominium units offered together; 1,374 SF combined residential area; 9'6" ceilings and oversized windows with Seward Park treetop views
