Renovated Residential Income
For Sale
$850,000
21 S END Avenue 623, New York City, NY 10280
One-bedroom residence with Hudson River and Freedom Tower views, custom finishes, smart-home controls, and in-unit laundry.
Property Size785 SF
Price / SF$1,082
Days on Market92
Property Features for 21 S END Avenue 623
General Information
Standard status
Active
Size
785 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Amenities
furnished rooftop deck
private internal courtyard
concierge
onsite superintendent
bike storage
pet-friendly living
Building Details
Building Size
785 SF
Year Built
1988
Stories
9
Listing Agency:
Douglas Elliman Real Estate
(212) 891-7170
Listed By:
Fabio Petrolino
(212) 891-7170
Source:
Carlinwright
Added: May 11
Changed: Aug 9
Last Checked: Aug 10 at 9:35AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This renovated one-bedroom, one-and-a-half-bath residence at The Regatta Condominium combines upgraded interiors with Hudson River and Freedom Tower skyline views. Oversized sound-attenuated windows bring in natural light, while wide-plank European white oak flooring extends throughout the home. The kitchen features integrated premium appliances, custom cabinetry, quartz countertops, and Grohe fixtures. A marble bathroom, separate powder room, two walk-in closets with built-ins, and a Miele washer and dryer complete the interior configuration.
The nine-story condominium was built in 1988 and offers a furnished rooftop deck, private interior courtyard, concierge service, onsite superintendent, bike storage, and pet-friendly living. The property is positioned along the Battery Park City Esplanade near Brookfield Place, Hudson River Park, dining, shopping, and waterfront recreation. Transportation options include the 1, R, W, 4, and 5 subway lines, PATH trains, ferries, and access to the West Side Highway.
The nine-story condominium was built in 1988 and offers a furnished rooftop deck, private interior courtyard, concierge service, onsite superintendent, bike storage, and pet-friendly living. The property is positioned along the Battery Park City Esplanade near Brookfield Place, Hudson River Park, dining, shopping, and waterfront recreation. Transportation options include the 1, R, W, 4, and 5 subway lines, PATH trains, ferries, and access to the West Side Highway.
Key Highlights
- 785‑square‑foot one‑bedroom, 1.5‑bath residence
- Hudson River, New York Harbor, and Freedom Tower skyline views
- Renovated kitchen with integrated appliances and custom cabinetry
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
$24,561
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
2.89%
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%
$491,220
$491.2K
Cap Rate 7%
$350,871
$350.9K
Cap Rate 9%
$272,900
$272.9K
Market Conditions
NOI Build-Up for 785 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
$47.0K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$44.7K $56.89/SF
− OpEx
−$20.1K −$25.60/SF
NOI
$24.6K $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%
$491,220
Cap Rate 7%
$350,871
Cap Rate 9%
$272,900
Alternative Uses
Best Use
Apartment 5plus
$350.9K
$307.0K – $409.4K
NOI $24,561 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,778 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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 - One-bedroom residence with Hudson River and Freedom Tower views, custom finishes, smart-home controls, and in-unit laundry.
Where is this residential income property located?
The property is located at 21 S END Avenue 623 New York City, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 785‑square‑foot one‑bedroom, 1.5‑bath residence; Hudson River, New York Harbor, and Freedom Tower skyline views; Renovated kitchen with integrated appliances and custom cabinetry
