Art Deco Residential Income
For Sale
$485,000
200 W 20TH Street 1007, New York City, NY 10011
Prewar studio residence with abundant light, flexible ownership provisions, and access to shared roof deck and laundry facilities.
Property Size500 SF
Price / SF$970
Days on Market84
Property Features for 200 W 20TH Street 1007
General Information
Standard status
Active
Size
500 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
HOA Fee
$1,662
Public Transit
Yes
Amenities
sunken living room
original beamed ceilings
dining foyer
separate dressing area
windowed kitchen
vintage tiled bathroom
24-hour attended lobby
live-in superintendent
landscaped roof deck
laundry room
storage available
pet-friendly
Building Details
Building Size
500 SF
Year Built
1939
Construction
Art Deco
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-3227
Listed By:
Serjik Markarian
(212) 381-3227
Source:
Nilelundgren
Added: Jun 3
Changed: Aug 23
Last Checked: Aug 24 at 3:23PM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
Apartment 1007 is a 500-square-foot studio on the 10th floor of a 1939 Art Deco cooperative designed by Emery Roth. The residence includes a sunken living area, beamed ceilings, dining foyer, separate dressing space with storage, windowed kitchen, and tiled bathroom. Open city outlooks include a partial view toward the Empire State Building.
Building amenities include a 24-hour attended lobby, live-in superintendent, landscaped roof deck, laundry room, and available storage. The property is pet-friendly. The cooperative permits pied-à-terre ownership, gifting, and unlimited subletting after three years of ownership; co-purchasing and parent purchases are also allowed, while guarantors are not permitted. The building is in Chelsea near the High Line, Hudson River Park, Whole Foods, Trader Joe’s, Eataly, Union Square, Flatiron, and multiple subway lines.
Building amenities include a 24-hour attended lobby, live-in superintendent, landscaped roof deck, laundry room, and available storage. The property is pet-friendly. The cooperative permits pied-à-terre ownership, gifting, and unlimited subletting after three years of ownership; co-purchasing and parent purchases are also allowed, while guarantors are not permitted. The building is in Chelsea near the High Line, Hudson River Park, Whole Foods, Trader Joe’s, Eataly, Union Square, Flatiron, and multiple subway lines.
Key Highlights
- 500 SF studio on the 10th floor
- 1939 Emery Roth‑designed Art Deco cooperative
- Sunken living area, beamed ceilings, dining foyer, and separate dressing area
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
$15,644
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
3.23%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 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
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 17.96%
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
39,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Prewar studio residence with abundant light, flexible ownership provisions, and access to shared roof deck and laundry facilities.
Where is this residential income property located?
The property is located at 200 W 20TH Street 1007 New York City, NY.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 500 SF studio on the 10th floor; 1939 Emery Roth‑designed Art Deco cooperative; Sunken living area, beamed ceilings, dining foyer, and separate dressing area
