Two-Residence Residential Income
20 PINE Street 907/908, New York City, NY 10005
For Sale
$2,000,000
Two adjoining homes offer separate living arrangements with the possibility of creating a larger residence, subject to board approval.
Property Size1,883 SF
Price / SF$1,062
Days on Market82
Property Features for 20 PINE Street 907/908
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Serhant
Listed By:
David Rosen
(917) 524-9680
Source:
Serhant
Added: Aug 20
Changed: Oct 31
Last Checked: Nov 8 at 4:23PM
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 Serhant
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Investment Insights
Based on property information with market context.
This offering includes two adjacent residences conveyed together under one contractual package. The homes are currently separate apartments without an interior connection, providing a combined 1,883 square feet. They contain two bedrooms and two and a half bathrooms, along with high ceilings, oversized windows, abundant natural light, and substantial living and dining areas. The residences were built in 1928.
The property is located in Downtown Manhattan’s Financial District at 20 Pine Street. Dining, shopping, waterfront areas, and transportation are within easy reach, with access to the broader city. The residences may remain distinct or potentially be combined into one larger home, subject to board approval.
The property is located in Downtown Manhattan’s Financial District at 20 Pine Street. Dining, shopping, waterfront areas, and transportation are within easy reach, with access to the broader city. The residences may remain distinct or potentially be combined into one larger home, subject to board approval.
Key Highlights
- Two adjacent residences offered together as a contractual package
- Combined property size of 1,883 square feet
- Currently configured as separate apartments with no interior connection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,914
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,280
$1.2M
Cap Rate 7%
$841,629
$841.6K
Cap Rate 9%
$654,600
$654.6K
Market Conditions
NOI Build-Up for 1,883 SF
Gross rent
$112.8K $59.88/SF
− Vacancy
−$5.6K −$2.99/SF
EGI
$107.1K $56.89/SF
− OpEx
−$48.2K −$25.60/SF
NOI
$58.9K $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 Rate 5%
$1,178,280
Cap Rate 7%
$841,629
Cap Rate 9%
$654,600
Alternative Uses
Best Use
Apartment 5plus
$841.6K
$736.4K – $981.9K
NOI $58,914 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,151 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
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
$1,387,200
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Two adjoining homes offer separate living arrangements with the possibility of creating a larger residence, subject to board approval.
Where is this residential income property located?
The property is located at 20 PINE Street 907/908 New York City, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Two adjacent residences offered together as a contractual package; Combined property size of 1,883 square feet; Currently configured as separate apartments with no interior connection
