Full-Floor Loft Residential Income
For Sale
$1,495,000
Pending
265 Water Street 5, New York City, NY 10038
Renovated full-floor loft with private elevator access, exposed brick, wood beams, and flexible living areas.
Property Size1,818 SF
Days on Market167
Property Features for 265 Water Street 5
General Information
Standard status
Pending
Size
1,818 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Building Size
1,818 SF
Year Built
1879
Listing Agency:
Find Properties
Listed By:
Suzanne T Unrein
(646) 456-5631
Source:
Carytamura
Added: Apr 28
Changed: Oct 11
Last Checked: Oct 10 at 1:53AM
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 Find Properties
Investment Insights
Based on property information with market context.
This full-floor residential income property occupies a legally recognized loft within a boutique cooperative at 265 Water Street. The 1,818-square-foot residence includes two full bathrooms, a private elevator entrance, original wood-beamed ceilings, exposed brick, wide-plank hardwood flooring, custom millwork, and a steel-and-glass entry partition. Its open layout is currently arranged with one private bedroom, one open sleeping area, a home office, and separate living and dining zones. A renovated kitchen features Miele and Liebherr appliances, while additional amenities include A/C, a washer/dryer, a walk-in closet, and basement storage.
The property is located in Manhattan’s South Street Seaport near the East River Esplanade, restaurants, retail, weekend greenmarkets, and multiple subway lines at Fulton Station. Unlimited subletting is permitted, and the cooperative has no flip tax. The building dates to 1879.
The property is located in Manhattan’s South Street Seaport near the East River Esplanade, restaurants, retail, weekend greenmarkets, and multiple subway lines at Fulton Station. Unlimited subletting is permitted, and the cooperative has no flip tax. The building dates to 1879.
Key Highlights
- 1,818‑square‑foot full‑floor loft at 265 Water Street
- Legally recognized loft with two full bathrooms
- Private elevator opens directly into the residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,880
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,600
$1.1M
Cap Rate 7%
$812,571
$812.6K
Cap Rate 9%
$632,000
$632.0K
Market Conditions
NOI Build-Up for 1,818 SF
Gross rent
$108.9K $59.88/SF
− Vacancy
−$5.4K −$2.99/SF
EGI
$103.4K $56.89/SF
− OpEx
−$46.5K −$25.60/SF
NOI
$56.9K $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%
$1,137,600
Cap Rate 7%
$812,571
Cap Rate 9%
$632,000
Alternative Uses
Best Use
Apartment 5plus
$812.6K
$711.0K – $948.0K
NOI $56,880 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.53M
$3.96M – $5.28M
NOI $316,768 @ 7.0% cap · market cap 21.19%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated full-floor loft with private elevator access, exposed brick, wood beams, and flexible living areas.
Where is this residential income property located?
The property is located at 265 Water Street 5 New York City, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 1,818‑square‑foot full‑floor loft at 265 Water Street; Legally recognized loft with two full bathrooms; Private elevator opens directly into the residence
