Penthouse Residential Income
For Sale
$1,250,000
264 WATER Street PH7A, New York City, NY 10038
One-bedroom, two-bath penthouse with private terraces, loft detailing, and direct Brooklyn Bridge views.
Property Size1,233 SF
Price / SF$1,013
Days on Market97
Property Features for 264 WATER Street PH7A
General Information
Standard status
Active
Size
1,233 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$20,076
Amenities
private outdoor terraces
Building Details
Building Size
1,233 SF
Year Built
1900
Stories
7
Construction
cast-iron
Listing Agency:
Corcoran Group
Listed By:
Michael E Pinchasick
(516) 978-4831
Source:
Miradorrealestate
Added: Jul 31
Changed: Nov 2
Last Checked: Nov 3 at 11:42AM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
This 1,233-square-foot penthouse residence occupies the top level of The Walton, a seven-story condominium completed in 1900. The one-bedroom, two-bath layout includes an open living, dining, and kitchen arrangement, oversized windows, soaring ceilings, exposed beams, and hardwood flooring. More than 700 square feet of private outdoor terraces expands the usable living area, while views of the Brooklyn Bridge extend from the living room and primary bedroom.
The property is located at 264 Water Street in New York City’s 10038 ZIP code, near the South Street Seaport. The surrounding area includes waterfront parks, cobblestone streets, restaurants, boutique retail, and access to the Fulton Transit Center. The building combines historic cast-iron construction with a boutique residential setting.
The property is located at 264 Water Street in New York City’s 10038 ZIP code, near the South Street Seaport. The surrounding area includes waterfront parks, cobblestone streets, restaurants, boutique retail, and access to the Fulton Transit Center. The building combines historic cast-iron construction with a boutique residential setting.
Key Highlights
- 1,233 SF penthouse residence at The Walton
- More than 700 SF of private outdoor terraces
- One‑bedroom, two‑bath layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,577
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,540
$771.5K
Cap Rate 7%
$551,100
$551.1K
Cap Rate 9%
$428,633
$428.6K
Market Conditions
NOI Build-Up for 1,233 SF
Gross rent
$73.8K $59.88/SF
− Vacancy
−$3.7K −$2.99/SF
EGI
$70.1K $56.89/SF
− OpEx
−$31.6K −$25.60/SF
NOI
$38.6K $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 Rate 5%
$771,540
Cap Rate 7%
$551,100
Cap Rate 9%
$428,633
Alternative Uses
Best Use
Apartment 5plus
$551.1K
$482.2K – $643.0K
NOI $38,577 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.07M
$2.69M – $3.58M
NOI $214,838 @ 7.0% cap · market cap 17.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
32,498
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom, two-bath penthouse with private terraces, loft detailing, and direct Brooklyn Bridge views.
Where is this residential income property located?
The property is located at 264 WATER Street PH7A New York City, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1,233 SF penthouse residence at The Walton; More than 700 SF of private outdoor terraces; One‑bedroom, two‑bath layout
