Four-Story Brownstone Multifamily
For Sale
$4,495,000
179 E 94th Street, New York, NY 10128
Commercial Sale, New York, NY
Property Size5,900 SF
Price / SF$761.86
Days on Market356
Property Features for 179 E 94th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 4, Bedroom 9, Bedroom 11, Bathroom 2, Bedroom 10, Bedroom 4, Bedroom 1, Bedroom 12, Bathroom 6, Bedroom 8, Bathroom 3, Bedroom 3, Bathroom 5, Bathroom 1, Bedroom 7
Subdivision
Carnegie Hill
High school district
000000
Standard status
Active
Size
5,900 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Keith Arthur
Added: Sep 3, 2025
Changed: Aug 22
Last Checked: Aug 24 at 2:06AM
MLS# 11568004
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-story brownstone dates to the turn of the century and is currently arranged as a single-room-occupancy dwelling. The room schedule identifies 12 bedrooms and 6 bathrooms across the property. The existing configuration is presented with options for conversion to a single-family residence or a condominium and multifamily layout, subject to the purchaser’s plans and approvals.
The property is located at 179 E 94th Street in New York’s Upper East Side. Madison Avenue shopping, museums, galleries, restaurants, and schools are described as being within walking distance, providing an established residential and cultural setting.
The property is located at 179 E 94th Street in New York’s Upper East Side. Madison Avenue shopping, museums, galleries, restaurants, and schools are described as being within walking distance, providing an established residential and cultural setting.
Key Highlights
- Four‑story brownstone dating to the turn of the century
- Currently configured as a single‑room‑occupancy dwelling
- Room schedule includes 12 bedrooms and 6 bathrooms
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
$184,206
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
4.10%
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%
$3,684,120
$3.7M
Cap Rate 7%
$2,631,514
$2.6M
Cap Rate 9%
$2,046,733
$2.0M
Market Conditions
NOI Build-Up for 5,900 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
$353.3K $59.88/SF
− Vacancy
−$18.4K −$3.11/SF
EGI
$334.9K $56.77/SF
− OpEx
−$150.7K −$25.54/SF
NOI
$184.2K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
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%
$3,684,120
Cap Rate 7%
$2,631,514
Cap Rate 9%
$2,046,733
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $184,206 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,646 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
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?
Multifamily property - Currently arranged as an SRO dwelling with stated conversion options for single-family or multifamily use.
Where is this multifamily property located?
The property is located at 179 E 94th Street New York, NY.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Four‑story brownstone dating to the turn of the century; Currently configured as a single‑room‑occupancy dwelling; Room schedule includes 12 bedrooms and 6 bathrooms
