Landmarked Greenwich Village
For Sale
$5,950,000
27 W 9TH St, New York, NY 10011
Luxury income property in Manhattan's sought-after Greenwich Village neighborhood.
Property Size5,610 SF
Lot Size1,569.00 Acres
Days on Market267
Property Features for 27 W 9TH St
General Information
Standard status
Active
Size
5,610 SF
Lot size
1,569.00 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$94,236
Building Details
Building Size
5,610 SF
Year Built
1855
Listing Agency:
Leslie J Garfield
(212) 574-6958
Listed By:
Matthew Lipsky · License #10301217047
(212) 574-6958
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 21 at 7:34AM
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 Leslie J Garfield
Investment Insights
Based on property information with market context.
Located on a picturesque block in the heart of Greenwich Village, 27 West 9th Street is a landmarked townhouse. Constructed in 1855, along with 25 West 9th Street, the five-story home has been meticulously maintained, retaining almost all of its original detail. The building is currently configured as a one and a half story duplex apartment on the garden and parlor floors, a studio apartment on the parlor level, and three floor-through units above. The property features a landscaped garden, two entrances, and upgraded mechanicals. This property offers the opportunity to acquire a luxury income-producing property in Manhattan's most sought-after neighborhood. The location on West 9th Street provides close proximity to schools, restaurants, and shopping.
Key Highlights
- Landmarked townhouse in the heart of Greenwich Village.
- Income‑producing property in a prime location.
- Meticulously maintained original details from 1855.
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
$175,522
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
2.95%
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%
$3,510,440
$3.5M
Cap Rate 7%
$2,507,457
$2.5M
Cap Rate 9%
$1,950,244
$2.0M
Market Conditions
NOI Build-Up for 5,610 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
$335.9K $59.88/SF
− Vacancy
−$16.8K −$2.99/SF
EGI
$319.1K $56.89/SF
− OpEx
−$143.6K −$25.60/SF
NOI
$175.5K $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%
$3,510,440
Cap Rate 7%
$2,507,457
Cap Rate 9%
$1,950,244
Alternative Uses
Best Use
Apartment 5plus
$2.51M
$2.19M – $2.93M
NOI $175,522 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.96M
$12.22M – $16.29M
NOI $977,486 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
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?
Apartment building - Luxury income property in Manhattan's sought-after Greenwich Village neighborhood.
Where is this apartment building located?
The property is located at 27 W 9TH St New York, NY.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Landmarked townhouse in the heart of Greenwich Village.; Income‑producing property in a prime location.; Meticulously maintained original details from 1855.
