Residential Income Property with River
For Sale
$549,000
20 West Street 16-E, New York City, NY 10004
Open-plan loft residence with oversized windows, premium finishes, and access to extensive condominium amenities.
Property Size517 SF
Price / SF$1,061
Days on Market11
Property Features for 20 West Street 16-E
General Information
Standard status
Active
Size
517 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,954
Amenities
24-hour doorman/concierge
onsite valet
residents' lounge
health club
spinning studio
movie theater
spa treatment room
bicycle storage
landscaped sun deck
rooftop deck
Building Details
Building Size
517 SF
Year Built
1930
Construction
Art Deco
Listing Agency:
City Connections Realty Inc
(212) 804-8820
Listed By:
Fanny A Gandelman
(212) 804-8820
Source:
Broadwayrealty
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 10 at 9:25AM
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 City Connections Realty Inc
Investment Insights
Based on property information with market context.
Apartment 16E is a 517-square-foot loft residence within The Downtown Club Condominium, an Art Deco tower completed in 1930. Its open arrangement creates separate living, dining, and sleeping zones, while oversized windows bring in natural light and frame views toward the Hudson River, Statue of Liberty, and downtown skyline. Interior details include granite countertops, a marble bathroom, and maple hardwood flooring.
Building amenities include a 24-hour doorman and concierge, valet service, residents’ lounge with WiFi and cable TV, health club, spinning studio, movie theater, spa treatment room, bicycle storage, landscaped sun deck, and rooftop deck. The property is in the Financial District near the World Trade Center, Brookfield Place, Wall Street, South Street Seaport, Stone Street, and Battery Park. Subway access includes the 1, R, W, 4, and 5 lines. Rentals are permitted with a minimum lease term of 30 days, and pets are allowed.
Building amenities include a 24-hour doorman and concierge, valet service, residents’ lounge with WiFi and cable TV, health club, spinning studio, movie theater, spa treatment room, bicycle storage, landscaped sun deck, and rooftop deck. The property is in the Financial District near the World Trade Center, Brookfield Place, Wall Street, South Street Seaport, Stone Street, and Battery Park. Subway access includes the 1, R, W, 4, and 5 lines. Rentals are permitted with a minimum lease term of 30 days, and pets are allowed.
Key Highlights
- 517 SF open‑layout loft with distinct living, dining, and sleeping areas
- Oversized windows with Hudson River, Statue of Liberty, and downtown skyline views
- Granite countertops, marble bathroom, and maple hardwood flooring
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
$16,176
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
2.95%
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%
$323,520
$323.5K
Cap Rate 7%
$231,086
$231.1K
Cap Rate 9%
$179,733
$179.7K
Market Conditions
NOI Build-Up for 517 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
$31.0K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$29.4K $56.89/SF
− OpEx
−$13.2K −$25.60/SF
NOI
$16.2K $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%
$323,520
Cap Rate 7%
$231,086
Cap Rate 9%
$179,733
Alternative Uses
Best Use
Apartment 5plus
$231.1K
$202.2K – $269.6K
NOI $16,176 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,082 @ 7.0% cap · market cap 16.41%
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
26,682
Businesses Nearby
Explore this area
Business Placement
Demographics for 10004, NY
4,287
Population
2,146
Households
2
Avg Household Size
35
Median Age
91%
College-Educated
99%
High-School Grad
0.5 sq mi
ZIP Area
8,574
Density / Sq Mi
$220,592
Median Household Income
$136,348
Median Earnings
$3,501
Median Rent
$1,866,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan loft residence with oversized windows, premium finishes, and access to extensive condominium amenities.
Where is this residential income property located?
The property is located at 20 West Street 16-E New York City, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 517 SF open‑layout loft with distinct living, dining, and sleeping areas; Oversized windows with Hudson River, Statue of Liberty, and downtown skyline views; Granite countertops, marble bathroom, and maple hardwood flooring
