Extra-Large Studio Residential Income
For Sale
$1,050,000
20 PINE Street 910, New York City, NY 10005
Extra-large studio with a home office, 13.5-foot ceilings, and private-entry sleeping alcove inside a full-service FIDI residence.
Property Size1,101 SF
Price / SF$953.68
Days on Market141
Property Features for 20 PINE Street 910
General Information
Standard status
Active
Size
1,101 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio with home office
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
library lounge
rooftop terrace
pool
spa
steam room
yoga and meditation room
golf simulation room
billiards room
fully equipped gym
washer/dryer
gourmet kitchen
Building Details
Building Size
1,101 SF
Year Built
1928
Listing Agency:
Platinum Forbes Global Properties
(212) 825-0050
Listed By:
Suzanne Remy Colton
(212) 825-0050
Source:
Cbwarburg
Added: Mar 23
Changed: Aug 10
Last Checked: Aug 10 at 9:23AM
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 Platinum Forbes Global Properties
Investment Insights
Based on property information with market context.
This offering features an extra-large studio with a dedicated home office and over 1100 SF of interior space. The home includes 13.5-foot high ceilings and a spacious western-facing living/dining area. A sleeping alcove is designed for a king-size bed and includes its own private entrance, private heating and AC unit, and two deep closets. The unit also includes a gourmet kitchen with Miele and Sub-Zero, Fisher & Paykal appliances, plus an in-unit washer/dryer. Additional closet space supports year-round storage, and the bathroom is described as spa-like, with a separate shower stall and a deep soaking tub.
The Residences at 20 Pine are positioned in the heart of the Financial District (FIDI). Residents have building amenities including a library lounge, rooftop terrace, pool and spa, and a Turkish Hamman-state-of-the-art steam room, along with yoga and meditation rooms. On-site recreation includes a golf simulation room, billiards room, and a fully equipped gym. An added convenience is indoor access to the subway, and access is described as including 2/3 trains through the building.
The property was built in 1928.
The Residences at 20 Pine are positioned in the heart of the Financial District (FIDI). Residents have building amenities including a library lounge, rooftop terrace, pool and spa, and a Turkish Hamman-state-of-the-art steam room, along with yoga and meditation rooms. On-site recreation includes a golf simulation room, billiards room, and a fully equipped gym. An added convenience is indoor access to the subway, and access is described as including 2/3 trains through the building.
The property was built in 1928.
Key Highlights
- Over 1100 SF studio with dedicated home office
- 13.5‑foot high ceilings
- Sleeping alcove with private entrance plus its own heating and AC unit
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
$34,447
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
3.28%
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%
$688,940
$688.9K
Cap Rate 7%
$492,100
$492.1K
Cap Rate 9%
$382,744
$382.7K
Market Conditions
NOI Build-Up for 1,101 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
$65.9K $59.88/SF
− Vacancy
−$3.3K −$2.99/SF
EGI
$62.6K $56.89/SF
− OpEx
−$28.2K −$25.60/SF
NOI
$34.4K $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%
$688,940
Cap Rate 7%
$492,100
Cap Rate 9%
$382,744
Alternative Uses
Best Use
Apartment 5plus
$492.1K
$430.6K – $574.1K
NOI $34,447 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.74M
$2.40M – $3.20M
NOI $191,838 @ 7.0% cap · market cap 18.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Extra-large studio with a home office, 13.5-foot ceilings, and private-entry sleeping alcove inside a full-service FIDI residence.
Where is this residential income property located?
The property is located at 20 PINE Street 910 New York City, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Over 1100 SF studio with dedicated home office; 13.5‑foot high ceilings; Sleeping alcove with private entrance plus its own heating and AC unit
