New Construction Apartment
For Sale
Contact for pricing
178 Parkinson Avenue, Staten Island, NY 10305
New 6-over-6 apartment building with a basement separate entrance and electric meter, near Hylan Blvd.
Property Size3,200 SF
Price / SF$430.63
Days on Market109
Property Features for 178 Parkinson Avenue
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multifamily
Zoning
R3-2
Building Details
Year Built
2025
Stories
2
Units
2
Listing Agency:
ROBERT DEFALCO REALTY
(917) 533-8060
Listed By:
Dritan Tony Gashi · License #NY
Source:
Crexi
Added: May 5
Changed: Aug 16
Last Checked: Aug 21 at 3:56PM
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 ROBERT DEFALCO REALTY
Investment Insights
Based on property information with market context.
This is a new construction apartment building configured as a 6-over-6 with a basement level that has a separate entrance and its own electric meter. The property offers an additional, independently metered basement setup alongside the main residential units.
Located on Staten Island, the building is described as one block from Hylan Blvd, with the Verrazzano Bridge minutes away.
The offering is well-suited for buyers looking for a newly built multifamily structure with distinct basement access and separate electrical metering for the lower level.
Located on Staten Island, the building is described as one block from Hylan Blvd, with the Verrazzano Bridge minutes away.
The offering is well-suited for buyers looking for a newly built multifamily structure with distinct basement access and separate electrical metering for the lower level.
Key Highlights
- New construction 6‑over‑6 apartment building (Year built: 2025)
- Basement level includes a separate entrance and its own electric meter
- Located about one block from Hylan Blvd
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
$77,299
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
5.61%
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%
$1,545,980
$1.5M
Cap Rate 7%
$1,104,271
$1.1M
Cap Rate 9%
$858,878
$858.9K
Market Conditions
NOI Build-Up for 3,200 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
$153.6K $48.00/SF
− Vacancy
−$13.1K −$4.08/SF
EGI
$140.5K $43.92/SF
− OpEx
−$63.2K −$19.76/SF
NOI
$77.3K $24.16/SF
Area
ZIP 10305
Vacancy
8.50%
Lease Rate
$48.00 /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%
$1,545,980
Cap Rate 7%
$1,104,271
Cap Rate 9%
$858,878
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$966.2K – $1.29M
NOI $77,299 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,881 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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 - New 6-over-6 apartment building with a basement separate entrance and electric meter, near Hylan Blvd.
Where is this apartment building located?
The property is located at 178 Parkinson Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,378,000.
What are key features of this property?
This property features: New construction 6‑over‑6 apartment building (Year built: 2025); Basement level includes a separate entrance and its own electric meter; Located about one block from Hylan Blvd
