Renaissance Revival Townhouse with
For Sale
Contact for pricing
259 W 90th St, New York, NY 10024
Legal 4-family townhouse with rental income in prime location.
Property Size5,301 SF
Price / SF$818.71
Days on Market204
Property Features for 259 W 90th St
General Information
Standard status
Active
Size
5,301 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$216,103
Building Details
Year Built
1897
Stories
4
Units
4
Listing Agency:
The Agency NYC Real Estate
(917) 604-0809
Listed By:
Cary Tamura · License #NY 10301216951
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Jul 31 at 3:12PM
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 NYC Real Estate
Investment Insights
Based on property information with market context.
This is a fully free-market, legal 4-family Renaissance Revival townhouse. The building includes a ground floor triplex with a large courtyard, two studios, and a recently renovated three-bedroom duplex with a private terrace. The property is suitable for an end user or as a rental investment. The building is fully occupied, generating rental income. A 2016 certificate of occupancy exempts the building from Good Cause Eviction until 2046. The first three floors of the townhouse, originally the owner’s residence, encompass over 2,500 square feet of indoor living space and almost 500 square feet of private outdoor space. This space can be configured in several ways, including four bedrooms with a living area and rec room, or three bedrooms with separate living, dining, and rec rooms, or three beds plus a den/office/library. The apartment includes closet and storage space, a five-piece master bathroom with a steam shower and whirlpool tub, a sauna, GE Profile and Bosch appliances including a wine fridge, a separate kitchenette in the rec room, a washer & dryer in unit, and a large atrium with walk-in coat closet. Unit 4 is a 3-bedroom, 3-bath floor-through owner’s duplex apartment with a terrace, oversized windows, skylights, ceilings as high as 10 feet, and an in-unit washer/dryer. The open kitchen includes island seating, stainless appliances, and a full-size dishwasher, while the living space has a windowed nook suitable for a home office or sitting area. The master suite has an en-suite bathroom with a heated towel rack and good storage space. The second and third bedrooms are quiet, with a private terrace off of the east bedroom. The studios are spacious and loft-like, with oversized windows, high ceilings, and separate kitchens. Both have distinct areas for sleeping, sitting, and eating, and the alcove is wide enough for a queen bed or separate sitting or home office. The property is located close to shopping, dining, and amenities, as well as Riverside Park and Central Park. It is near the express train stop for the 1, 2, and 3, with the B and C trains a few blocks away.
Key Highlights
- Exempt from Good Cause Eviction until 2046 due to 2016 Certificate of Occupancy.
- Legal 4‑family Renaissance Revival townhouse generating rental income from day one.
- Ground floor triplex with a large courtyard offers 2,500 sqft of indoor living space and almost 500 sqft of private outdoor 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
4.13%
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 4.13%
Second Best
Apartment 5plus
$2.37M
$2.07M – $2.76M
NOI $165,854 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$13.19M
$11.55M – $15.39M
NOI $923,646 @ 7.0% cap · market cap 21.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Legal 4-family townhouse with rental income in prime location.
Where is this quadplex located?
The property is located at 259 W 90th St New York, NY.
What is the asking price?
The asking price for this property is $4,340,000.
What are key features of this property?
This property features: Exempt from Good Cause Eviction until 2046 due to 2016 Certificate of Occupancy.; Legal 4‑family Renaissance Revival townhouse generating rental income from day one.; Ground floor triplex with a large courtyard offers 2,500 sqft of indoor living space and almost 500 sqft of private outdoor space.**
