Four-Story Multifamily
For Sale
$4,495,000
179 E 94th Street TWHM, New York City, NY 10128
Currently arranged as a single-room occupancy dwelling with a cellar.
Property Size5,900 SF
Price / SF$881.37
Days on Market343
Property Features for 179 E 94th Street TWHM
General Information
Standard status
Active
Size
5,900 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$57,828
Building Details
Building Size
5,900 SF
Year Built
1910
Buildings
1
Stories
4
Construction
Brownstone
Listing Agency:
Compass
(718) 344-9142
Listed By:
Keith Arthur
(718) 344-9142
Source:
Serhant
Added: Sep 3, 2025
Changed: Aug 3
Last Checked: Aug 10 at 10:05AM
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.
Built in 1910, the four-story property at 179 E 94th Street is currently configured as a single-room occupancy dwelling. The building contains over 5100 square feet, including the cellar, and presents potential for reconfiguration into a single-family residence or a condo/multi-unit dwelling, subject to the purchaser’s plans and applicable requirements.
The property is situated in New York City’s Upper East Side and is within walking distance of Madison Avenue shopping, museums, galleries, restaurants, and schools. Its existing residential configuration and substantial interior area provide a defined starting point for evaluating future layouts with an architect or contractor.
The property is situated in New York City’s Upper East Side and is within walking distance of Madison Avenue shopping, museums, galleries, restaurants, and schools. Its existing residential configuration and substantial interior area provide a defined starting point for evaluating future layouts with an architect or contractor.
Key Highlights
- Over 5100 square feet, including the cellar
- Four‑story multifamily property built in 1910
- Currently configured as a single‑room occupancy dwelling
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
$159,229
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
3.54%
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%
$3,184,580
$3.2M
Cap Rate 7%
$2,274,700
$2.3M
Cap Rate 9%
$1,769,211
$1.8M
Market Conditions
NOI Build-Up for 5,100 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
$305.4K $59.88/SF
− Vacancy
−$15.9K −$3.11/SF
EGI
$289.5K $56.77/SF
− OpEx
−$130.3K −$25.54/SF
NOI
$159.2K $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%
$3,184,580
Cap Rate 7%
$2,274,700
Cap Rate 9%
$1,769,211
Alternative Uses
Best Use
Apartment 5plus
$2.27M
$1.99M – $2.65M
NOI $159,229 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.17M – $4.23M
NOI $253,829 @ 7.0% cap · market cap 5.65%
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 a single-room occupancy dwelling with a cellar.
Where is this multifamily property located?
The property is located at 179 E 94th Street TWHM New York City, 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: Over 5100 square feet, including the cellar; Four‑story multifamily property built in 1910; Currently configured as a single‑room occupancy dwelling
