Loft with Two Home
For Sale
$1,290,000
20 PINE Street 911, New York City, NY 10005
Armani/Casa-designed loft residence with high ceilings, oversized windows, and two large home offices in a full-service condo.
Property Size1,223 SF
Price / SF$1,054
Days on Market295
Property Features for 20 PINE Street 911
General Information
Standard status
Active
Size
1,223 SF
Property subtype
Apartment
Occupancy
100%
Financials
Gross Income
$75,000
Average Monthly Rent
$6,250
HOA Fee
$135
Units
Unit Mix
1 x loft
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
concierge
pool
gym
yoga/meditation room
spa
library
club lounge
billiards room
recreational space
golf simulator
terrace
washer/dryer
Building Details
Building Size
1,223 SF
Year Built
1928
Stories
38
Tenancy
Single
Listing Agency:
Corcoran Group
(917) 496-4442
Listed By:
VERGARA GISELA FURTADO
(917) 496-4442
Source:
Carlinwright
Added: Oct 21, 2025
Changed: Aug 9
Last Checked: Aug 10 at 9:18AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Armani/Casa-designed loft residence in a 38-story luxury, full-service condominium. The space features high ceilings and oversized windows that bring in natural light and frame city views, with ebony hardwood floors throughout. Two large home offices provide flexible living and work options: the larger office is ensuite and can also serve as a primary bedroom, with a spacious closet and a luxury bathroom finished with exotic woods and a designer vanity. A second home office can function as an office, guest room, or nursery. An open-concept living area connects to a European-style kitchen with custom wood cabinetry and top-of-the-line appliances, including a Miele stove and Sub-Zero refrigerator. Washer and dryer are in the apartment.
Residents enjoy concierge service and extensive amenities, including a 60-foot pool, gym, yoga/meditation room, spa with Turkish steam bath, library, club lounge, billiards room, recreation space, a golf simulator, and a 25th-floor terrace with reflecting pool. The building is at the intersection of Wall Street and Broadway.
The unit is 1,223 SF and was built in 1928. A tenant is in place through 4/30/2026, and a capital assessment ends December 2026.
Residents enjoy concierge service and extensive amenities, including a 60-foot pool, gym, yoga/meditation room, spa with Turkish steam bath, library, club lounge, billiards room, recreation space, a golf simulator, and a 25th-floor terrace with reflecting pool. The building is at the intersection of Wall Street and Broadway.
The unit is 1,223 SF and was built in 1928. A tenant is in place through 4/30/2026, and a capital assessment ends December 2026.
Key Highlights
- 1,223 SF loft in a 38‑story full‑service condo
- Two large home offices, including an ensuite office that can serve as a primary bedroom
- High ceilings and oversized windows for natural light and city views
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
$38,264
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
2.97%
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%
$765,280
$765.3K
Cap Rate 7%
$546,629
$546.6K
Cap Rate 9%
$425,156
$425.2K
Market Conditions
NOI Build-Up for 1,223 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
$73.2K $59.88/SF
− Vacancy
−$3.7K −$2.99/SF
EGI
$69.6K $56.89/SF
− OpEx
−$31.3K −$25.60/SF
NOI
$38.3K $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%
$765,280
Cap Rate 7%
$546,629
Cap Rate 9%
$425,156
Alternative Uses
Best Use
Apartment 5plus
$546.6K
$478.3K – $637.7K
NOI $38,264 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.04M
$2.66M – $3.55M
NOI $213,096 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
32,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 10005, NY
10,639
Population
6,495
Households
1.6
Avg Household Size
31
Median Age
84%
College-Educated
97%
High-School Grad
0.1 sq mi
ZIP Area
106,390
Density / Sq Mi
$211,810
Median Household Income
$133,727
Median Earnings
$3,501
Median Rent
$1,387,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Armani/Casa-designed loft residence with high ceilings, oversized windows, and two large home offices in a full-service condo.
Where is this residential income property located?
The property is located at 20 PINE Street 911 New York City, NY.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 1,223 SF loft in a 38‑story full‑service condo; Two large home offices, including an ensuite office that can serve as a primary bedroom; High ceilings and oversized windows for natural light and city views
