Duplex Residential Income
For Sale
$875,000
21 S End Avenue 404, New York City, NY 10280
Two-level residence with loft bedroom, new stainless-steel appliances, and access to a furnished rooftop deck.
Property Size931 SF
Price / SF$939.85
Days on Market84
Property Features for 21 S End Avenue 404
General Information
Standard status
Active
Size
931 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$21,552
Amenities
furnished roof deck
Building Details
Building Size
931 SF
Year Built
1988
Listing Agency:
Howard Hanna NYC
(716) 725-9136
Listed By:
Andrew Klima · License #RS374284
(716) 725-9136
Source:
Miradorrealestate
Added: May 26
Changed: Aug 16
Last Checked: Aug 16 at 3:35AM
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 Howard Hanna NYC
Investment Insights
Based on property information with market context.
This duplex residential income property at 21 S End Avenue includes an open living and dining area beneath 18-foot ceilings, southern-facing windows, and a pass-through kitchen with ample counter space and new stainless-steel appliances. The lower level also has a half bath and deep closet. Upstairs, the loft bedroom accommodates a king-sized bed and is paired with a full bath featuring a jacuzzi tub, plus a Bosch washer and dryer and custom closet storage.
The Regatta includes a furnished roof deck with views toward New York Harbor and the Statue of Liberty. The property is in Battery Park City, near downtown businesses, public transportation, Brookfield Place, the World Financial Center, Westfield Shops, and the Oculus. The building was constructed in 1988.
The Regatta includes a furnished roof deck with views toward New York Harbor and the Statue of Liberty. The property is in Battery Park City, near downtown businesses, public transportation, Brookfield Place, the World Financial Center, Westfield Shops, and the Oculus. The building was constructed in 1988.
Key Highlights
- Duplex layout with 18‑foot ceilings and southern‑facing windows
- Loft bedroom with full bath, jacuzzi tub, custom closet, and Bosch washer/dryer
- Pass‑through kitchen with new stainless‑steel appliances
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
$29,128
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
3.33%
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%
$582,560
$582.6K
Cap Rate 7%
$416,114
$416.1K
Cap Rate 9%
$323,644
$323.6K
Market Conditions
NOI Build-Up for 931 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
$55.7K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$53.0K $56.89/SF
− OpEx
−$23.8K −$25.60/SF
NOI
$29.1K $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%
$582,560
Cap Rate 7%
$416,114
Cap Rate 9%
$323,644
Alternative Uses
Best Use
Apartment 5plus
$416.1K
$364.1K – $485.5K
NOI $29,128 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.70M
NOI $162,217 @ 7.0% cap · market cap 18.54%
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
22,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 10280, NY
8,993
Population
5,015
Households
1.8
Avg Household Size
38
Median Age
90%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
89,930
Density / Sq Mi
$206,250
Median Household Income
$131,677
Median Earnings
$3,501
Median Rent
$893,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with loft bedroom, new stainless-steel appliances, and access to a furnished rooftop deck.
Where is this residential income property located?
The property is located at 21 S End Avenue 404 New York City, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Duplex layout with 18‑foot ceilings and southern‑facing windows; Loft bedroom with full bath, jacuzzi tub, custom closet, and Bosch washer/dryer; Pass‑through kitchen with new stainless‑steel appliances
