Residential Income Property with Roof
New
For Sale
$1,995,000
203 W 112th Street PH6W, New York City, NY 10026
A two-level penthouse condo combines four bedrooms with private outdoor space and a spacious eat-in kitchen.
Property Size1,861 SF
Price / SF$1,072
Days on Market7
Property Features for 203 W 112th Street PH6W
General Information
Standard status
Active
Size
1,861 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$22,706
Amenities
private roof deck
private roof garden
gas fireplace
part-time doorman
storage bin
bike space
washer/dryer
Building Details
Building Size
1,861 SF
Year Built
1896
Listing Agency:
Compass
Listed By:
Brian K Lewis · License #30LE0903569
(646) 228-7241
Source:
Carlinwright
Added: Sep 25
Changed: Sep 28
Last Checked: Sep 30 at 5:53PM
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 Compass
Investment Insights
Based on property information with market context.
Set on the building’s top floor, this two-level corner condo has four bedrooms, two windowed bathrooms, and a large living and dining area with a gas fireplace that needs relining. The open eat-in kitchen includes a dining bar, and the home also has a washer, vented dryer, ample closets, and a private roof garden with deck. Hardwood floors and period details add character to the interiors.
The 1896 building offers part-time doorman service, a storage bin, and bike space; pets are permitted. Central Park is two blocks away, with the Conservatory, Discovery Center, swimming, skating, jogging, and bike paths among the nearby amenities. Restaurants, cultural and educational destinations, fitness options, shops, markets, and transportation are also in the surrounding area.
The 1896 building offers part-time doorman service, a storage bin, and bike space; pets are permitted. Central Park is two blocks away, with the Conservatory, Discovery Center, swimming, skating, jogging, and bike paths among the nearby amenities. Restaurants, cultural and educational destinations, fitness options, shops, markets, and transportation are also in the surrounding area.
Key Highlights
- Four bedrooms across a two‑level penthouse condo
- Private roof garden and deck
- Two windowed bathrooms; gas fireplace requires relining
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
$58,226
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
2.92%
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%
$1,164,520
$1.2M
Cap Rate 7%
$831,800
$831.8K
Cap Rate 9%
$646,956
$647.0K
Market Conditions
NOI Build-Up for 1,861 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
$111.4K $59.88/SF
− Vacancy
−$5.6K −$2.99/SF
EGI
$105.9K $56.89/SF
− OpEx
−$47.6K −$25.60/SF
NOI
$58.2K $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%
$1,164,520
Cap Rate 7%
$831,800
Cap Rate 9%
$646,956
Alternative Uses
Best Use
Apartment 5plus
$831.8K
$727.8K – $970.4K
NOI $58,226 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.63M
$4.05M – $5.40M
NOI $324,261 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-level penthouse condo combines four bedrooms with private outdoor space and a spacious eat-in kitchen.
Where is this residential income property located?
The property is located at 203 W 112th Street PH6W New York City, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Four bedrooms across a two‑level penthouse condo; Private roof garden and deck; Two windowed bathrooms; gas fireplace requires relining
