Free-Market Apartment
New
For Sale
$6,550,000
251 West 72nd Street, New York, NY 10023
The property carries Tax Class 2B status and retains original architectural details.
Property Size11,030 SF
Days on Market4
Property Features for 251 West 72nd Street
General Information
Standard status
Active
Size
11,030 SF
Property subtype
Commercial
Building Details
Building Size
11,030 SF
Units
10
Listed By:
Clint Olsen · License #1030122001 (NY)
(323) 213-9572
Source:
Matthews
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 5:41AM
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 Clint Olsen
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Investment Insights
Based on property information with market context.
This apartment building at 251 West 72nd Street has rents registered as free market and retains original features. Its tax classification is 2B.
The property is in Manhattan’s Upper West Side neighborhood.
The property is in Manhattan’s Upper West Side neighborhood.
Key Highlights
- Rents are registered as free market
- Tax Class 2B
- Original features remain in the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$346,518
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,930,360
$6.9M
Cap Rate 7%
$4,950,257
$5.0M
Cap Rate 9%
$3,850,200
$3.9M
Market Conditions
NOI Build-Up for 11,030 SF
Gross rent
$661.8K $60.00/SF
− Vacancy
−$31.8K −$2.88/SF
EGI
$630.0K $57.12/SF
− OpEx
−$283.5K −$25.70/SF
NOI
$346.5K $31.42/SF
Area
ZIP 10023
Vacancy
4.80%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,930,360
Cap Rate 7%
$4,950,257
Cap Rate 9%
$3,850,200
Alternative Uses
Best Use
Apartment 5plus
$4.95M
$4.33M – $5.78M
NOI $346,518 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.84M
$6.86M – $9.15M
NOI $548,968 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
11,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 10023, NY
71,164
Population
46,272
Households
1.5
Avg Household Size
42
Median Age
84%
College-Educated
98%
High-School Grad
1.0 sq mi
ZIP Area
71,164
Density / Sq Mi
$157,866
Median Household Income
$109,508
Median Earnings
$3,050
Median Rent
$1,401,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The property carries Tax Class 2B status and retains original architectural details.
Where is this apartment building located?
The property is located at 251 West 72nd Street New York, NY.
What is the asking price?
The asking price for this property is $6,550,000.
What are key features of this property?
This property features: Rents are registered as free market; Tax Class 2B; Original features remain in the building
