Pre-War Loft Income
249 W 29TH Street 2S, Manhattan, NY 10001
For Sale
$1,695,000
Raw industrial loft with beamed ceilings, a fire balcony, and access to passenger and freight elevators.
Property Size1,805 SF
Price / SF$939.06
Days on Market52
Property Features for 249 W 29TH Street 2S
General Information
Standard status
Size
Elevators
Property subtype
Additional Details
Multifamily Units
Amenities
fire balcony
Building Details
Year Built
Construction
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Alexander D Pisa · License NY #10301219858
(917) 302-7141
Source:
Carytamura
Added: Sep 19
Changed: Nov 8
Last Checked: Nov 8 at 1:42PM
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
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Investment Insights
Based on property information with market context.
Apartment 2S is a 1,805-square-foot raw loft within a 1927 Art Deco co-op at 249 W 29th Street in New York City. The space retains an industrial character, with 10'10" beamed ceilings and an open configuration that can remain in its current condition or be adapted through a future architectural renovation. A fire balcony connects directly to the apartment.
Building access includes both a passenger elevator and a full-sized freight elevator. The property is identified as a residential income property and is located in the 10001 ZIP code.
Building access includes both a passenger elevator and a full-sized freight elevator. The property is identified as a residential income property and is located in the 10001 ZIP code.
Key Highlights
- 1,805‑square‑foot raw pre‑war loft
- Located in a 1927 Art Deco co‑op
- 10'10" beamed ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,474
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,129,480
$1.1M
Cap Rate 7%
$806,771
$806.8K
Cap Rate 9%
$627,489
$627.5K
Market Conditions
NOI Build-Up for 1,805 SF
Gross rent
$108.1K $59.88/SF
− Vacancy
−$5.4K −$2.99/SF
EGI
$102.7K $56.89/SF
− OpEx
−$46.2K −$25.60/SF
NOI
$56.5K $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%
$1,129,480
Cap Rate 7%
$806,771
Cap Rate 9%
$627,489
Alternative Uses
Best Use
Apartment 5plus
$806.8K
$705.9K – $941.2K
NOI $56,474 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,334 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
62,020
Businesses Nearby
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Business Placement
Demographics for 10001, NY
32,612
Population
17,554
Households
1.9
Avg Household Size
35
Median Age
72%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
54,353
Density / Sq Mi
$123,393
Median Household Income
$97,848
Median Earnings
$3,024
Median Rent
$793,000
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Raw industrial loft with beamed ceilings, a fire balcony, and access to passenger and freight elevators.
Where is this residential income property located?
The property is located at 249 W 29TH Street 2S Manhattan, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 1,805‑square‑foot raw pre‑war loft; Located in a 1927 Art Deco co‑op; 10'10" beamed ceilings
