Four-Unit Renaissance Revival
For Sale
$4,250,000
259 W 90TH Street, New York City, NY 10024
Fully occupied legal four-family building with owner-use layouts and private outdoor space.
Property Size5,301 SF
Price / SF$801.74
Days on Market200
Property Features for 259 W 90TH Street
General Information
Standard status
Active
Size
5,301 SF
Property subtype
Multi Family
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$75,552
Amenities
courtyard
Building Details
Building Size
5,301 SF
Year Built
1897
Buildings
1
Construction
Renaissance Revival
Tenancy
Multi
Listing Agency:
The Agency Brokerage
(917) 604-0809
Listed By:
Cary Tamura · License #10301216951
(917) 604-0809
Source:
Carlinwright
Added: Jan 22
Changed: Aug 8
Last Checked: Aug 10 at 9:25AM
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 The Agency Brokerage
Investment Insights
Based on property information with market context.
Built in 1897, this 5,301-square-foot Renaissance Revival townhouse is configured as a legal four-family property with a ground-floor triplex, a three-bedroom duplex, and two studio apartments. The triplex offers more than 2,500 square feet of interior space, nearly 500 square feet of private outdoor area, extensive storage, a sauna, steam shower, whirlpool tub, multiple living configurations, and upgraded kitchen and laundry features. The duplex includes three bedrooms, three bathrooms, high ceilings reaching 10 feet, oversized windows, skylights, an open kitchen, in-unit laundry, and a private terrace. The two studios provide separate kitchens and flexible living areas.
The building is fully occupied and will be delivered with all apartments leased. A 2016 certificate of occupancy provides exemption from Good Cause Eviction through 2046, while the property is classified as tax class 2B. The address is near Broadway retail and dining, Riverside Park, Central Park, the express 1, 2, and 3 trains, and the B and C trains three blocks away.
The building is fully occupied and will be delivered with all apartments leased. A 2016 certificate of occupancy provides exemption from Good Cause Eviction through 2046, while the property is classified as tax class 2B. The address is near Broadway retail and dining, Riverside Park, Central Park, the express 1, 2, and 3 trains, and the B and C trains three blocks away.
Key Highlights
- Legal four‑family townhouse spanning 5,301 square feet
- 1897 Renaissance Revival building with 2016 certificate of occupancy
- Ground‑floor triplex includes over 2,500 square feet of interior space
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
$179,405
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
4.22%
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%
$3,588,100
$3.6M
Cap Rate 7%
$2,562,929
$2.6M
Cap Rate 9%
$1,993,389
$2.0M
Market Conditions
NOI Build-Up for 5,301 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
$270.4K $51.00/SF
− Vacancy
−$14.1K −$2.65/SF
EGI
$256.3K $48.35/SF
− OpEx
−$76.9K −$14.50/SF
NOI
$179.4K $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%
$3,588,100
Cap Rate 7%
$2,562,929
Cap Rate 9%
$1,993,389
Alternative Uses
Best Use
Multifamily LT 5
$2.56M
$2.24M – $2.99M
NOI $179,405 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$2.37M
$2.07M – $2.76M
NOI $165,854 @ 7.0% cap · market cap 3.90%
Theoretical Best
Specialty Retail
$13.19M
$11.55M – $15.39M
NOI $923,646 @ 7.0% cap · market cap 21.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,414
Businesses Nearby
Explore this area
Business Placement
Demographics for 10024, NY
62,250
Population
36,723
Households
1.7
Avg Household Size
43
Median Age
84%
College-Educated
97%
High-School Grad
0.9 sq mi
ZIP Area
69,167
Density / Sq Mi
$182,614
Median Household Income
$117,078
Median Earnings
$2,965
Median Rent
$1,746,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied legal four-family building with owner-use layouts and private outdoor space.
Where is this quadplex located?
The property is located at 259 W 90TH Street New York City, NY.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Legal four‑family townhouse spanning 5,301 square feet; 1897 Renaissance Revival building with 2016 certificate of occupancy; Ground‑floor triplex includes over 2,500 square feet of interior space
