Renovated Residential Income
3 W 122nd Street 4-D, Manhattan, NY 10027
For Sale
$675,000
Updated condominium residence with two bedrooms, exposed brick, hardwood floors, and substantial built-in storage.
Property Size800 SF
Price / SF$843.75
Days on Market161
Property Features for 3 W 122nd Street 4-D
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
elevator
washer/dryer
dishwasher
Building Details
Building Size
Year Built
Listing Agency:
Bohemia Realty Group LLC
Listed By:
Chantelle Ripley
(332) 455-7457
Source:
Nobleblackandpartners
Added: Jun 2
Changed: Nov 7
Last Checked: Nov 8 at 3:05PM
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 Bohemia Realty Group LLC
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Investment Insights
Based on property information with market context.
Unit 4D is a renovated two-bedroom condominium residence in The Palm Trees Condominium, a pre-war elevator building completed in 1900. Interior features include exposed brick, hardwood flooring, high ceilings, recessed lighting, and extensive closet and storage capacity. The kitchen has stainless steel appliances, a dishwasher, generous cabinetry, and ample counter space, while the bathroom includes a walk-in shower with contemporary finishes. A washer/dryer combination unit adds convenience.
The building contains 24 units and is located in South Harlem near cafes, restaurants, grocery stores, fitness studios, cultural destinations, and Marcus Garvey Park, Morningside Park, and Central Park. Nearby transportation includes the A, B, C, D, 2, and 3 subway lines, Metro-North Railroad service, and MTA bus routes. Columbia University, Barnard College, Teachers College, Manhattan School of Music, and City College of New York are also in the surrounding area.
The building contains 24 units and is located in South Harlem near cafes, restaurants, grocery stores, fitness studios, cultural destinations, and Marcus Garvey Park, Morningside Park, and Central Park. Nearby transportation includes the A, B, C, D, 2, and 3 subway lines, Metro-North Railroad service, and MTA bus routes. Columbia University, Barnard College, Teachers College, Manhattan School of Music, and City College of New York are also in the surrounding area.
Key Highlights
- Renovated 2‑bedroom condominium residence
- The Palm Trees Condominium is a 24‑unit pre‑war elevator building dating to 1900
- Exposed brick, hardwood floors, high ceilings, and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,030
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,600
$500.6K
Cap Rate 7%
$357,571
$357.6K
Cap Rate 9%
$278,111
$278.1K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$47.9K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$45.5K $56.89/SF
− OpEx
−$20.5K −$25.60/SF
NOI
$25.0K $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%
$500,600
Cap Rate 7%
$357,571
Cap Rate 9%
$278,111
Alternative Uses
Best Use
Apartment 5plus
$357.6K
$312.9K – $417.2K
NOI $25,030 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$559.3K
$489.4K – $652.5K
NOI $39,151 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
9,401
Businesses Nearby
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Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
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Market
Average Price Trend$/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 - Updated condominium residence with two bedrooms, exposed brick, hardwood floors, and substantial built-in storage.
Where is this residential income property located?
The property is located at 3 W 122nd Street 4-D Manhattan, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Renovated 2‑bedroom condominium residence; The Palm Trees Condominium is a 24‑unit pre‑war elevator building dating to 1900; Exposed brick, hardwood floors, high ceilings, and recessed lighting
