Renovated Multifamily
For Sale
$2,995,000
202 W 137TH Street, New York City, NY 10030
Five-level brownstone with updated systems, period details, a private outdoor area, and a separate upper-floor apartment.
Property Size4,128 SF
Price / SF$725.53
Days on Market387
Property Features for 202 W 137TH Street
General Information
Standard status
Active
Size
4,128 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,196
Amenities
decorative fireplaces
backyard with patio
Building Details
Building Size
4,128 SF
Year Built
1899
Buildings
1
Construction
brownstone
Listing Agency:
Serhant
Listed By:
Brandon Bogard
(646) 201-8782
Source:
Serhant
Added: Sep 3, 2025
Changed: Sep 23
Last Checked: Sep 23 at 2:44AM
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
Investment Insights
Based on property information with market context.
This five-level brownstone multifamily property combines preserved architectural details with substantial modern updates. Built in 1899, the approximately 4,128-square-foot home includes five bedrooms, four bathrooms, six decorative fireplaces, hardwood floors, mahogany finishes, cherry trim, original pocket doors, and a backyard with a new patio. The kitchen includes stainless steel appliances, while the bathrooms have been modernized.
Recent improvements include new windows, boilers, chimney flue relining, and a hot water heater. The upper level contains a two-bedroom apartment with its own kitchen and full bathroom and can be closed off from the rest of the home. The property is located one block from A, B, and C subway stations and near Harlem Shake, Manna's, Pizza Blues, and Cotton Club.
Recent improvements include new windows, boilers, chimney flue relining, and a hot water heater. The upper level contains a two-bedroom apartment with its own kitchen and full bathroom and can be closed off from the rest of the home. The property is located one block from A, B, and C subway stations and near Harlem Shake, Manna's, Pizza Blues, and Cotton Club.
Key Highlights
- Approximately 4,128 sqft across five levels, including a complete basement
- Built in 1899 with mahogany finishes, cherry trim, original pocket doors, and six decorative fireplaces
- Five bedrooms and four bathrooms with a backyard and new patio
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
$139,706
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
4.66%
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%
$2,794,120
$2.8M
Cap Rate 7%
$1,995,800
$2.0M
Cap Rate 9%
$1,552,289
$1.6M
Market Conditions
NOI Build-Up for 4,128 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
$210.5K $51.00/SF
− Vacancy
−$10.9K −$2.65/SF
EGI
$199.6K $48.35/SF
− OpEx
−$59.9K −$14.50/SF
NOI
$139.7K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,794,120
Cap Rate 7%
$1,995,800
Cap Rate 9%
$1,552,289
Alternative Uses
Best Use
Multifamily LT 5
$2.00M
$1.75M – $2.33M
NOI $139,706 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$1.85M
$1.61M – $2.15M
NOI $129,154 @ 7.0% cap · market cap 4.31%
Theoretical Best
Specialty Retail
$10.28M
$8.99M – $11.99M
NOI $719,263 @ 7.0% cap · market cap 24.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,375
Businesses Nearby
Explore this area
Business Placement
Demographics for 10030, NY
29,686
Population
14,602
Households
2
Avg Household Size
36
Median Age
35%
College-Educated
78%
High-School Grad
0.3 sq mi
ZIP Area
98,953
Density / Sq Mi
$42,738
Median Household Income
$37,388
Median Earnings
$1,204
Median Rent
$810,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Five-level brownstone with updated systems, period details, a private outdoor area, and a separate upper-floor apartment.
Where is this multifamily property located?
The property is located at 202 W 137TH Street New York City, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Approximately 4,128 sqft across five levels, including a complete basement; Built in 1899 with mahogany finishes, cherry trim, original pocket doors, and six decorative fireplaces; Five bedrooms and four bathrooms with a backyard and new patio
