Pre-War Residential Income
For Sale
$3,299,000
300 W 109TH Street 3LMR, New York City, NY 10025
Approximately 3,000 square feet with four bedrooms, a den, generous entertaining areas, and preserved architectural details.
Property Size3,000 SF
Price / SF$1,099
Days on Market11
Property Features for 300 W 109TH Street 3LMR
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Apartment
Building Details
Building Size
3,000 SF
Year Built
1903
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Abigail Perlman · License #10301214458 (NY)
(917) 399-4496
Source:
Miradorrealestate
Added: Sep 14
Changed: Sep 21
Last Checked: Sep 24 at 4:05PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This approximately 3,000-square-foot cooperative residence occupies a flexible pre-war layout with four bedrooms and a den. An oversized entry gallery leads into an expansive living and dining area, while the bedroom wing is positioned separately from the main entertaining spaces. The home includes 10-foot ceilings, refinished oak strip floors, oversized windows, original moldings, and a windowed kitchen with new appliances and substantial storage. The primary suite has a private entry foyer and an en-suite bathroom.
The Manhasset was built in 1903 and reflects Beaux-Arts architecture. Building services and amenities include a live-in superintendent, full-time porters, overnight security, a package room, video intercom, fitness center, bicycle storage, and central laundry. The property is near Riverside Park, shopping, restaurants, and public transportation. Pets are welcome, while pied-à-terre ownership and co-purchases are considered case by case.
The Manhasset was built in 1903 and reflects Beaux-Arts architecture. Building services and amenities include a live-in superintendent, full-time porters, overnight security, a package room, video intercom, fitness center, bicycle storage, and central laundry. The property is near Riverside Park, shopping, restaurants, and public transportation. Pets are welcome, while pied-à-terre ownership and co-purchases are considered case by case.
Key Highlights
- Approximately 3,000 square feet with four bedrooms plus a den
- Oversized entrance gallery and expansive living and dining area
- 10‑foot ceilings, oak strip floors, oversized windows, and original moldings
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
$98,753
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
2.99%
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%
$1,975,060
$2.0M
Cap Rate 7%
$1,410,757
$1.4M
Cap Rate 9%
$1,097,256
$1.1M
Market Conditions
NOI Build-Up for 3,000 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
$189.0K $63.00/SF
− Vacancy
−$9.5K −$3.15/SF
EGI
$179.6K $59.85/SF
− OpEx
−$80.8K −$26.93/SF
NOI
$98.8K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /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%
$1,975,060
Cap Rate 7%
$1,410,757
Cap Rate 9%
$1,097,256
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.65M
NOI $98,753 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.85M
$10.37M – $13.82M
NOI $829,440 @ 7.0% cap · market cap 25.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,880
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Approximately 3,000 square feet with four bedrooms, a den, generous entertaining areas, and preserved architectural details.
Where is this residential income property located?
The property is located at 300 W 109TH Street 3LMR New York City, NY.
What is the asking price?
The asking price for this property is $3,299,000.
What are key features of this property?
This property features: Approximately 3,000 square feet with four bedrooms plus a den; Oversized entrance gallery and expansive living and dining area; 10‑foot ceilings, oak strip floors, oversized windows, and original moldings
