Mixed-Use Multifamily with Day
For Sale
Contact for pricing
177-14 Wexford Terrace, New York City, NY 11432
Mixed-use building built in 2020 with 38 apartments and a ground-floor Social Adult Day Care space.
Property Size35,391 SF
Price / SF$450.68
Days on Market56
Property Features for 177-14 Wexford Terrace
General Information
Standard status
Active
Size
35,391 SF
Class
A
Property subtype
Mixed Use, Multifamily
Zoning
R7A - DJ
Investment Type
Core+
Additional Details
Multifamily Units
38
Building Details
Year Built
2020
Buildings
1
Stories
9
Units
40
Tenancy
Multi
Listing Agency:
RIPCO Real Estate New York
(516) 647-7155
Listed By:
Kevin Schmitz · License #NY 10401284640
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 1:28PM
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 RIPCO Real Estate New York
Investment Insights
Based on property information with market context.
This mixed-use building was built in 2020 and contains 38 apartments in a unit mix of 23 one-bedrooms, 6 two-bedrooms, 2 three-bedrooms, and 8 four-bedroom units. The ground floor is leased to Active Care, Inc., a Social Adult Day Care. The legal lower level may be available for expansion by the current or future tenant.
The property benefits from a 35-year Affordable New York tax abatement that began in 2020/2021 and is set to expire in 2054/2055. Under the program, 12 apartments were leased through the HPD lottery process, and an additional 10 apartments are free market, having been leased above the rent stabilization threshold at initial occupancy.
Transit access is a key feature, with the 179th Street F subway station about a 3-minute walk away, providing direct service to Midtown Manhattan in under 45 minutes. The site is also positioned near JFK Airport and Downtown Jamaica.
The property benefits from a 35-year Affordable New York tax abatement that began in 2020/2021 and is set to expire in 2054/2055. Under the program, 12 apartments were leased through the HPD lottery process, and an additional 10 apartments are free market, having been leased above the rent stabilization threshold at initial occupancy.
Transit access is a key feature, with the 179th Street F subway station about a 3-minute walk away, providing direct service to Midtown Manhattan in under 45 minutes. The site is also positioned near JFK Airport and Downtown Jamaica.
Key Highlights
- Mixed‑use building built in 2020 with 38 apartments plus a ground‑floor Social Adult Day Care space (leased to Active Care, Inc.)
- Apartment mix: 23 one‑bedrooms, 6 two‑bedrooms, 2 three‑bedrooms, and 8 four‑bedroom units
- 35‑year NY tax abatement started in 2020/2021 and runs through 2054/2055
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
$1,107,289
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
6.94%
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%
$22,145,780
$22.1M
Cap Rate 7%
$15,818,414
$15.8M
Cap Rate 9%
$12,303,211
$12.3M
Market Conditions
NOI Build-Up for 35,391 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
$2.12M $59.88/SF
− Vacancy
−$106.0K −$2.99/SF
EGI
$2.01M $56.89/SF
− OpEx
−$906.0K −$25.60/SF
NOI
$1.11M $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%
$22,145,780
Cap Rate 7%
$15,818,414
Cap Rate 9%
$12,303,211
Alternative Uses
Best Use
Apartment 5plus
$15.82M
$13.84M – $18.45M
NOI $1,107,289 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$88.09M
$77.08M – $102.78M
NOI $6,166,528 @ 7.0% cap · market cap 38.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
38
Residential units
Location Intelligence
Trade Area within ½ mile
4,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building built in 2020 with 38 apartments and a ground-floor Social Adult Day Care space.
Where is this apartment building located?
The property is located at 177-14 Wexford Terrace New York City, NY.
What is the asking price?
The asking price for this property is $15,950,000.
What are key features of this property?
This property features: Mixed‑use building built in 2020 with 38 apartments plus a ground‑floor Social Adult Day Care space (leased to Active Care, Inc.); Apartment mix: 23 one‑bedrooms, 6 two‑bedrooms, 2 three‑bedrooms, and 8 four‑bedroom units; 35‑year NY tax abatement started in 2020/2021 and runs through 2054/2055
