Five-Family Apartment Building with
For Sale
$5,250,000
214 E 17TH Street, New York City, NY 10003
Multi-level layout includes private outdoor space, basement storage, and laundry facilities.
Property Size5,376 SF
Price / SF$976.56
Days on Market138
Property Features for 214 E 17TH Street
General Information
Standard status
Active
Size
5,376 SF
Property subtype
Multi Family
Units
Unit Mix
1 x duplex, 1 x 2BR garden residence, 2 x 1BR, 1 x 2BR with private terrace
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$46,548
Amenities
basement storage
laundry
Building Details
Building Size
5,376 SF
Year Built
1925
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
(917) 727-6321
Listed By:
Joshua B Rubin · License #30RU0854049
(917) 727-6321
Source:
Miradorrealestate
Added: Mar 26
Changed: Aug 4
Last Checked: Aug 10 at 9:45AM
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 5,376-square-foot apartment building, constructed in 1925, is configured as a five-family property with a varied residential layout. The owner’s duplex includes high ceilings, fireplaces, hardwood floors, exposed brick, an expansive kitchen, substantial closet space, and a south-facing terrace. Additional residences include a two-bedroom garden apartment with private south-facing outdoor space, two one-bedroom apartments on the fourth floor, and a two-bedroom fifth-floor apartment with its own terrace. Basement storage and laundry add practical support space.
The 22-foot-wide property is located near Gramercy Park in Manhattan, with access to Union Square, the Flatiron District, Greenwich Village, Whole Foods Market, and Trader Joe’s. The address combines multiple apartment configurations with private outdoor areas and a central downtown setting.
The 22-foot-wide property is located near Gramercy Park in Manhattan, with access to Union Square, the Flatiron District, Greenwich Village, Whole Foods Market, and Trader Joe’s. The address combines multiple apartment configurations with private outdoor areas and a central downtown setting.
Key Highlights
- 5,376‑square‑foot five‑family apartment building constructed in 1925
- 22‑foot‑wide property near Gramercy Park
- Owner’s duplex with south‑facing terrace, fireplaces, hardwood floors, and exposed brick
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
$168,201
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
3.20%
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%
$3,364,020
$3.4M
Cap Rate 7%
$2,402,871
$2.4M
Cap Rate 9%
$1,868,900
$1.9M
Market Conditions
NOI Build-Up for 5,376 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
$321.9K $59.88/SF
− Vacancy
−$16.1K −$2.99/SF
EGI
$305.8K $56.89/SF
− OpEx
−$137.6K −$25.60/SF
NOI
$168.2K $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%
$3,364,020
Cap Rate 7%
$2,402,871
Cap Rate 9%
$1,868,900
Alternative Uses
Best Use
Apartment 5plus
$2.40M
$2.10M – $2.80M
NOI $168,201 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.38M
$11.71M – $15.61M
NOI $936,714 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
34,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-level layout includes private outdoor space, basement storage, and laundry facilities.
Where is this apartment building located?
The property is located at 214 E 17TH Street New York City, NY.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 5,376‑square‑foot five‑family apartment building constructed in 1925; 22‑foot‑wide property near Gramercy Park; Owner’s duplex with south‑facing terrace, fireplaces, hardwood floors, and exposed brick
