Two-Bedroom Residential Income
New
For Sale
$875,000
2257 ADAM CLAYTON POWELL JR Boulevard 3B, Manhattan, NY 10027
A two-bath condominium combines a flexible split-bedroom plan with a private balcony and access to a shared roof deck.
Property Size1,210 SF
Price / SF$723.14
Days on Market3
Property Features for 2257 ADAM CLAYTON POWELL JR Boulevard 3B
General Information
Standard status
Active
Size
1,210 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$408
Amenities
private balcony
in-unit washer/dryer
video intercom
shared roof deck
Building Details
Building Size
1,210 SF
Year Built
2007
Listing Agency:
Bank Neary Inc
Listed By:
Matthew Bank
(917) 608-6309
Source:
Carlinwright
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 3:12PM
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 Bank Neary Inc
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Investment Insights
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This 1,210-square-foot condominium has two bedrooms and two full bathrooms, arranged around a spacious great room with an open kitchen and central island. The kitchen includes a stainless steel gas range, refrigerator, white cabinetry, and stone counters. A private balcony extends the living space, while east-facing double-pane windows, hardwood floors in the main rooms, through-wall heating and air conditioning, and an in-unit washer and dryer add practical features. The primary suite offers a walk-in closet and an en-suite bathroom with a double vanity, tub and shower, and separate water closet. The second bedroom has a closet and sits near the other full bathroom.
The Ellison is a 10-unit condominium building with elevator service, video intercom, and a communal roof deck. A tax abatement is in effect through 2034. Subway service is available from the 2 and 3 trains at 135th Street and Lenox Avenue, as well as the B and C trains at 135th Street and St. Nicholas Avenue. The M2, M7, and M102 bus lines also serve the area. Whole Foods Market, Trader Joe’s, Sylvia’s Restaurant, and Red Rooster are nearby.
The Ellison is a 10-unit condominium building with elevator service, video intercom, and a communal roof deck. A tax abatement is in effect through 2034. Subway service is available from the 2 and 3 trains at 135th Street and Lenox Avenue, as well as the B and C trains at 135th Street and St. Nicholas Avenue. The M2, M7, and M102 bus lines also serve the area. Whole Foods Market, Trader Joe’s, Sylvia’s Restaurant, and Red Rooster are nearby.
Key Highlights
- 1,210‑square‑foot condominium with two bedrooms and two full bathrooms
- Private balcony and split‑bedroom floor plan
- Open kitchen with central island, stainless steel gas range, and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,858
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,160
$757.2K
Cap Rate 7%
$540,829
$540.8K
Cap Rate 9%
$420,644
$420.6K
Market Conditions
NOI Build-Up for 1,210 SF
Gross rent
$72.5K $59.88/SF
− Vacancy
−$3.6K −$2.99/SF
EGI
$68.8K $56.89/SF
− OpEx
−$31.0K −$25.60/SF
NOI
$37.9K $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 Rate 5%
$757,160
Cap Rate 7%
$540,829
Cap Rate 9%
$420,644
Alternative Uses
Best Use
Apartment 5plus
$540.8K
$473.2K – $631.0K
NOI $37,858 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.01M
$2.64M – $3.51M
NOI $210,830 @ 7.0% cap · market cap 24.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,706
Businesses Nearby
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Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bath condominium combines a flexible split-bedroom plan with a private balcony and access to a shared roof deck.
Where is this residential income property located?
The property is located at 2257 ADAM CLAYTON POWELL JR Boulevard 3B Manhattan, 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: 1,210‑square‑foot condominium with two bedrooms and two full bathrooms; Private balcony and split‑bedroom floor plan; Open kitchen with central island, stainless steel gas range, and refrigerator
