Two-Bedroom Residential Income
For Sale
$999,000
261 W 112th Street 1A, New York City, NY 10026
Condominium residence with southern exposure, in-unit laundry, and access to elevator-building amenities.
Property Size1,061 SF
Price / SF$941.56
Days on Market8
Property Features for 261 W 112th Street 1A
General Information
Standard status
Active
Size
1,061 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,600
Amenities
doorman
fitness center
landscaped roof deck
bike storage
live-in superintendent
Building Details
Building Size
1,061 SF
Year Built
2010
Listing Agency:
Compass
Listed By:
Sang H Kwon
(917) 312-5199
Source:
Nobleblackandpartners
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 22 at 9:19PM
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 Compass
Investment Insights
Based on property information with market context.
Residence 1A is a 1,061-square-foot, two-bedroom, two-bathroom home in a 2010-built boutique elevator condominium. Southern exposure and oversized windows brighten the living and dining areas, which feature hardwood floors and high ceilings. The kitchen provides ample cabinetry and counter space, while the primary bedroom includes an en-suite bathroom and the second full bath opens to the main living area. Central air conditioning and an in-unit washer and dryer add functional convenience.
Building amenities include a part-time and virtual doorman, fitness center, landscaped roof deck, bike storage, and a live-in superintendent. The residence is near Central Park and Morningside Park, with restaurants, cafes, shops, and access to the B/C and 2/3 subway lines in the surrounding area.
Building amenities include a part-time and virtual doorman, fitness center, landscaped roof deck, bike storage, and a live-in superintendent. The residence is near Central Park and Morningside Park, with restaurants, cafes, shops, and access to the B/C and 2/3 subway lines in the surrounding area.
Key Highlights
- 1,061‑square‑foot residence with two bedrooms and two bathrooms
- Southern exposure and oversized windows
- Hardwood floors and high ceilings in living and dining areas
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
$33,196
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
3.32%
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%
$663,920
$663.9K
Cap Rate 7%
$474,229
$474.2K
Cap Rate 9%
$368,844
$368.8K
Market Conditions
NOI Build-Up for 1,061 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
$63.5K $59.88/SF
− Vacancy
−$3.2K −$2.99/SF
EGI
$60.4K $56.89/SF
− OpEx
−$27.2K −$25.60/SF
NOI
$33.2K $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 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%
$663,920
Cap Rate 7%
$474,229
Cap Rate 9%
$368,844
Alternative Uses
Best Use
Apartment 5plus
$474.2K
$415.0K – $553.3K
NOI $33,196 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $184,869 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,482
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with southern exposure, in-unit laundry, and access to elevator-building amenities.
Where is this residential income property located?
The property is located at 261 W 112th Street 1A New York City, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1,061‑square‑foot residence with two bedrooms and two bathrooms; Southern exposure and oversized windows; Hardwood floors and high ceilings in living and dining areas
