One-Bedroom Walk-Up
For Sale
$595,000
234 W 16th Street 5B, New York City, NY 10011
The updated residence features roof access and a renovated kitchen and bathroom.
Property Size575 SF
Price / SF$1,034
Days on Market14
Property Features for 234 W 16th Street 5B
General Information
Standard status
Active
Size
575 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
roof access
hardwood floors
recessed lighting
French doors
custom moldings
granite breakfast bar
stainless steel appliances
glass-enclosed rain shower
porcelain-tiled floor
custom blue granite basin with waterfall sink
Building Details
Building Size
575 SF
Year Built
1915
Tenancy
Single
Listing Agency:
Compass
Listed By:
SEAN D BREWER
(785) 550-9251
Source:
Carytamura
Added: Oct 14
Changed: Oct 26
Last Checked: Oct 26 at 10:18PM
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
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Investment Insights
Based on property information with market context.
Located in Chelsea, this one-bedroom, one-bathroom apartment occupies a pre-war walk-up building constructed in 1915. Interior details include hardwood flooring, French doors, custom moldings, and four-zone recessed lighting. The open kitchen has a granite breakfast bar and stainless steel appliances, including a dishwasher, range, and refrigerator. A glass-enclosed rain shower and custom basin are among the bathroom finishes, while the bedroom has oversized south-facing windows. The apartment is on the fifth floor, up four flights of stairs, and includes roof access.
The property is near the A, C, E, L, 1, 2, and 3 subway lines, as well as The High Line, Chelsea Market, and the Whitney Museum. The current tenant’s occupancy runs through March 2027.
The property is near the A, C, E, L, 1, 2, and 3 subway lines, as well as The High Line, Chelsea Market, and the Whitney Museum. The current tenant’s occupancy runs through March 2027.
Key Highlights
- One bedroom and one bathroom
- Fifth‑floor residence in a walk‑up building built in 1915; access is up four flights of stairs
- Tenant in place through March 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,990
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,800
$359.8K
Cap Rate 7%
$257,000
$257.0K
Cap Rate 9%
$199,889
$199.9K
Market Conditions
NOI Build-Up for 575 SF
Gross rent
$34.4K $59.88/SF
− Vacancy
−$1.7K −$2.99/SF
EGI
$32.7K $56.89/SF
− OpEx
−$14.7K −$25.60/SF
NOI
$18.0K $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%
$359,800
Cap Rate 7%
$257,000
Cap Rate 9%
$199,889
Alternative Uses
Best Use
Apartment 5plus
$257.0K
$224.9K – $299.8K
NOI $17,990 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,188 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
41,706
Businesses Nearby
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Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The updated residence features roof access and a renovated kitchen and bathroom.
Where is this residential income property located?
The property is located at 234 W 16th Street 5B New York City, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: One bedroom and one bathroom; Fifth‑floor residence in a walk‑up building built in 1915; access is up four flights of stairs; Tenant in place through March 2027
