Four-Bedroom Residential Income
For Sale
$2,395,000
255 W 98th Street 7-AD, New York City, NY 10025
Pre-war cooperative residence with three full bathrooms, formal dining, a family room, and preserved period details.
Property Size2,225 SF
Price / SF$1,076
Days on Market14
Property Features for 255 W 98th Street 7-AD
General Information
Standard status
Active
Size
2,225 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
pet friendly
A/C
storage
video intercom
bicycle storage
planted roof deck
renovated lobby
live-in superintendent
Building Details
Building Size
2,225 SF
Year Built
1906
Buildings
1
Stories
10
Listing Agency:
Cooper & Cooper Real Estate LLC
Listed By:
Christopher Clowdus
(646) 544-5529
Source:
Carlinwright
Added: Sep 11
Changed: Sep 23
Last Checked: Sep 22 at 8:28PM
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 Cooper & Cooper Real Estate LLC
Investment Insights
Based on property information with market context.
Residence 7AD occupies approximately 2,225 square feet within a 1906 apartment building converted to cooperative ownership in 1984. The four-bedroom layout includes a family room, formal dining room, three full bathrooms, fourteen closets, and a windowed kitchen with premium appliances. French doors, inlaid hardwood floors, high ceilings, and exposures to the south, west, and north add to the apartment’s period character. Pet-friendly building amenities include air conditioning, radiator heat, video intercom, bicycle storage, and private storage.
The ten-story building at 255 W 98th Street has three to four apartments per floor and a live-in superintendent. Common areas include a renovated lobby and elevator, while the planted roof deck provides outdoor space with city views. Subletting, pied-a-terre use, and gifting are permitted, and in-unit washer/dryer installation is not permitted.
The ten-story building at 255 W 98th Street has three to four apartments per floor and a live-in superintendent. Common areas include a renovated lobby and elevator, while the planted roof deck provides outdoor space with city views. Subletting, pied-a-terre use, and gifting are permitted, and in-unit washer/dryer installation is not permitted.
Key Highlights
- Approximately 2,225 SF four‑bedroom apartment with family room and formal dining room
- Three full bathrooms and fourteen closets
- Windowed kitchen with premium appliances
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
$73,241
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
3.06%
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%
$1,464,820
$1.5M
Cap Rate 7%
$1,046,300
$1.0M
Cap Rate 9%
$813,789
$813.8K
Market Conditions
NOI Build-Up for 2,225 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
$140.2K $63.00/SF
− Vacancy
−$7.0K −$3.15/SF
EGI
$133.2K $59.85/SF
− OpEx
−$59.9K −$26.93/SF
NOI
$73.2K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,464,820
Cap Rate 7%
$1,046,300
Cap Rate 9%
$813,789
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$915.5K – $1.22M
NOI $73,241 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.79M
$7.69M – $10.25M
NOI $615,168 @ 7.0% cap · market cap 25.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,759
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Pre-war cooperative residence with three full bathrooms, formal dining, a family room, and preserved period details.
Where is this residential income property located?
The property is located at 255 W 98th Street 7-AD New York City, NY.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Approximately 2,225 SF four‑bedroom apartment with family room and formal dining room; Three full bathrooms and fourteen closets; Windowed kitchen with premium appliances
