Renovated Brownstone
New
For Sale
$2,450,000
246 W 132nd Street TH, New York City, NY 10027
Four-unit layout includes a garden duplex, two floor-through apartments, and a finished owner’s studio.
Property Size4,860 SF
Price / SF$504.12
Days on Market3
Property Features for 246 W 132nd Street TH
General Information
Standard status
Active
Size
4,860 SF
Property subtype
Mixed Use
Units
Unit Mix
1 x 2BR garden duplex, 2 x 1BR floor-through, 1 x studio
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,844
Amenities
exposed brick
hardwood floors
high ceilings
central HVAC
in-unit laundry
open kitchen
private deck
private backyard
Building Details
Building Size
4,860 SF
Year Built
1900
Year Renovated
2005
Construction
Neo-Grec
Listing Agency:
Harlem Lofts Inc
Listed By:
ROBERT D PAIR · License #31PA1003506
(212) 280-8866
Source:
Miradorrealestate
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 7:13PM
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 Harlem Lofts Inc
Investment Insights
Based on property information with market context.
This brownstone quadplex contains approximately 4,860 SF of finished space and was renovated in 2005. The configuration includes a two-bedroom garden duplex with exposed brick, hardwood floors, high ceilings, central HVAC, in-unit laundry, an open kitchen with granite counters and dishwasher, and access to the backyard. Two one-bedroom floor-through apartments offer updated kitchens and baths, central HVAC, in-unit laundry, hardwood floors, and exposed brick. A finished owner’s studio includes a full bath, kitchenette, windows, finished interiors, and backyard access.
Outdoor features include a private deck and planted backyard. The property is located at 246 W 132nd Street in New York City, just outside the Central Harlem West Historic District and near 125th Street, Harlem’s Restaurant Row, shopping, transportation, Mount Morris Park, and Morningside Park.
Outdoor features include a private deck and planted backyard. The property is located at 246 W 132nd Street in New York City, just outside the Central Harlem West Historic District and near 125th Street, Harlem’s Restaurant Row, shopping, transportation, Mount Morris Park, and Morningside Park.
Key Highlights
- Approximately 4,860 SF of finished space in a four‑unit brownstone configuration
- Renovated in 2005
- Two‑bedroom garden duplex with backyard access and in‑unit laundry
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
$164,480
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
6.71%
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%
$3,289,600
$3.3M
Cap Rate 7%
$2,349,714
$2.3M
Cap Rate 9%
$1,827,556
$1.8M
Market Conditions
NOI Build-Up for 4,860 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
$247.9K $51.00/SF
− Vacancy
−$12.9K −$2.65/SF
EGI
$235.0K $48.35/SF
− OpEx
−$70.5K −$14.50/SF
NOI
$164.5K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,289,600
Cap Rate 7%
$2,349,714
Cap Rate 9%
$1,827,556
Alternative Uses
Best Use
Multifamily LT 5
$2.35M
$2.06M – $2.74M
NOI $164,480 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $152,056 @ 7.0% cap · market cap 6.21%
Theoretical Best
Specialty Retail
$12.10M
$10.59M – $14.11M
NOI $846,806 @ 7.0% cap · market cap 34.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
8,305
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit layout includes a garden duplex, two floor-through apartments, and a finished owner’s studio.
Where is this quadplex located?
The property is located at 246 W 132nd Street TH New York City, NY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Approximately 4,860 SF of finished space in a four‑unit brownstone configuration; Renovated in 2005; Two‑bedroom garden duplex with backyard access and in‑unit laundry
