Two-Level Duplex
272 Water Street 5R/6R, Manhattan, NY 10038
For Sale
$1,700,000
Pending
A private terrace and upper-level bedroom complement the open living, dining, and kitchen area.
Property Size1,519 SF
Days on Market61
Property Features for 272 Water Street 5R/6R
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
private terrace
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Christopher J Pomeroy
(212) 381-2531
Source:
Dallien
Added: Sep 10
Changed: Nov 7
Last Checked: Nov 9 at 1:34PM
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
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Investment Insights
Based on property information with market context.
This 1,519-square-foot residence spans two levels, with an open main floor combining living, dining, and kitchen space. High ceilings, exposed brick, and original wood floors distinguish the interior. A curved staircase leads to a separate bedroom and a private terrace with views of the Brooklyn Bridge and downtown. The kitchen and both bathrooms have been updated.
The residence is in a boutique condominium housed in a former 19th-century wine warehouse in the South Street Seaport. The building dates to 1867, and nearby area features include the waterfront esplanade, Pier 17, dining, and retail.
The residence is in a boutique condominium housed in a former 19th-century wine warehouse in the South Street Seaport. The building dates to 1867, and nearby area features include the waterfront esplanade, Pier 17, dining, and retail.
Key Highlights
- 1,519‑square‑foot residence arranged across two levels
- Private terrace with views of the Brooklyn Bridge and downtown
- Open main floor with living, dining, and kitchen areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,525
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$950,500
$950.5K
Cap Rate 7%
$678,929
$678.9K
Cap Rate 9%
$528,056
$528.1K
Market Conditions
NOI Build-Up for 1,519 SF
Gross rent
$91.0K $59.88/SF
− Vacancy
−$4.5K −$2.99/SF
EGI
$86.4K $56.89/SF
− OpEx
−$38.9K −$25.60/SF
NOI
$47.5K $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 Rate 5%
$950,500
Cap Rate 7%
$678,929
Cap Rate 9%
$528,056
Alternative Uses
Best Use
Apartment 5plus
$678.9K
$594.1K – $792.1K
NOI $47,525 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.2K – $1.24M
NOI $74,338 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
37,693
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
$865,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - A private terrace and upper-level bedroom complement the open living, dining, and kitchen area.
Where is this residential income property located?
The property is located at 272 Water Street 5R/6R Manhattan, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 1,519‑square‑foot residence arranged across two levels; Private terrace with views of the Brooklyn Bridge and downtown; Open main floor with living, dining, and kitchen areas
