Loft-Style Studio
For Sale
$715,000
20 PINE Street 507, New York City, NY 10005
Open-plan studio residence with high ceilings, luxury finishes, and full-service condominium amenities.
Property Size676 SF
Price / SF$1,057
Days on Market34
Property Features for 20 PINE Street 507
General Information
Standard status
Active
Size
676 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
HOA Fee
$74.74
Public Transit
Yes
Amenities
24-hour doorman
concierge
fitness center
indoor swimming pool
Turkish hammam spa
sauna
steam room
residents' lounge
billiards room
golf simulator
children's playroom
landscaped roof terrace
valet services
on-site management
in-unit washer/dryer
central heating and air conditioning
Building Details
Building Size
676 SF
Year Built
1928
Listing Agency:
Corcoran Group
(646) 675-6173
Listed By:
Ronald Anthony Testa
(646) 675-6173
Source:
Miradorrealestate
Added: Jul 13
Changed: Aug 14
Last Checked: Aug 14 at 5:43AM
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.
Residence 507 is a 676 SF loft-style studio in the 20 Pine Street condominium, completed in 1928. The open interior allows distinct living, dining, and sleeping zones, while south-facing windows and high ceilings create a bright, expansive setting. Espresso hardwood flooring, Armani/Casa interiors, stone countertops, premium Sub-Zero, Miele, and Fisher&Paykel appliances, an oversized bathroom, generous closets, an LG washer and dryer, and central heating and air conditioning complete the home.
The Financial District address places the residence near Wall Street, Stone Street, the Seaport District, Battery Park, the East River Esplanade, and Brookfield Place. Nearby transportation includes the 2, 3, 4, 5, J, Z, R, W, A, C, E, and PATH trains. Building services include a 24-hour doorman and concierge, fitness center, indoor pool, Turkish hammam, sauna, steam room, residents’ lounge, billiards room, golf simulator, children’s playroom, roof terrace, valet services, and on-site management.
The Financial District address places the residence near Wall Street, Stone Street, the Seaport District, Battery Park, the East River Esplanade, and Brookfield Place. Nearby transportation includes the 2, 3, 4, 5, J, Z, R, W, A, C, E, and PATH trains. Building services include a 24-hour doorman and concierge, fitness center, indoor pool, Turkish hammam, sauna, steam room, residents’ lounge, billiards room, golf simulator, children’s playroom, roof terrace, valet services, and on-site management.
Key Highlights
- 676 SF loft‑style studio at 20 Pine Street
- High ceilings with two oversized south‑facing windows
- Armani/Casa interiors with espresso hardwood floors
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
$21,150
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
2.96%
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%
$423,000
$423.0K
Cap Rate 7%
$302,143
$302.1K
Cap Rate 9%
$235,000
$235.0K
Market Conditions
NOI Build-Up for 676 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
$40.5K $59.88/SF
− Vacancy
−$2.0K −$2.99/SF
EGI
$38.5K $56.89/SF
− OpEx
−$17.3K −$25.60/SF
NOI
$21.2K $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%
$423,000
Cap Rate 7%
$302,143
Cap Rate 9%
$235,000
Alternative Uses
Best Use
Apartment 5plus
$302.1K
$264.4K – $352.5K
NOI $21,150 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,786 @ 7.0% cap · market cap 16.47%
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 - Open-plan studio residence with high ceilings, luxury finishes, and full-service condominium amenities.
Where is this residential income property located?
The property is located at 20 PINE Street 507 New York City, NY.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 676 SF loft‑style studio at 20 Pine Street; High ceilings with two oversized south‑facing windows; Armani/Casa interiors with espresso hardwood floors
