Renovated Duplex Residential Income
For Sale
$1,500,000
311 W 83RD Street 4A, New York City, NY 10024
Two bedrooms, three balconies, and a wood-burning fireplace support flexible townhouse-style living.
Property Size1,400 SF
Price / SF$1,071
Days on Market48
Property Features for 311 W 83RD Street 4A
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Amenities
balconies
wood burning fireplace
through-wall air conditioning
chef's kitchen
custom built-ins
heated floors
wine refrigerator
Building Details
Building Size
1,400 SF
Year Built
1920
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-2211
Listed By:
Sharon Bergh
(212) 381-2211
Source:
Nobleblackandpartners
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 10 at 9:50AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This meticulously renovated 2-bedroom, 2 1/2-bath duplex combines pre-war character with modern updates and cooperative ownership. The 1,400-square-foot residence features 9-foot ceilings, an open living and dining area, custom built-ins, through-wall air conditioning, and three balconies. A wood-burning fireplace set within an exposed brick hearth wall anchors the main level. The chef’s kitchen includes bespoke cabinetry, book-matched marble countertops and backsplash, premium stainless-steel appliances, generous storage, and a concealed wine refrigerator.
The adjacent second bedroom or den includes ample closet space, a renovated bath with heated floors and designer tile, and balcony access. The lower level contains the primary suite, abundant closets, a renovated bath with heated floors and sophisticated tilework, a separate laundry area, and access to a third balcony. The property is situated on a quiet, tree-lined brownstone block between West End and Riverside Drive on the Upper West Side.
The adjacent second bedroom or den includes ample closet space, a renovated bath with heated floors and designer tile, and balcony access. The lower level contains the primary suite, abundant closets, a renovated bath with heated floors and sophisticated tilework, a separate laundry area, and access to a third balcony. The property is situated on a quiet, tree-lined brownstone block between West End and Riverside Drive on the Upper West Side.
Key Highlights
- 2‑bedroom, 2 1/2‑bath duplex with cooperative ownership
- 1,400‑square‑foot renovated residence with 9‑foot ceilings
- Three balconies and a wood‑burning fireplace
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
$43,802
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
2.92%
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%
$876,040
$876.0K
Cap Rate 7%
$625,743
$625.7K
Cap Rate 9%
$486,689
$486.7K
Market Conditions
NOI Build-Up for 1,400 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
$83.8K $59.88/SF
− Vacancy
−$4.2K −$2.99/SF
EGI
$79.6K $56.89/SF
− OpEx
−$35.8K −$25.60/SF
NOI
$43.8K $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%
$876,040
Cap Rate 7%
$625,743
Cap Rate 9%
$486,689
Alternative Uses
Best Use
Apartment 5plus
$625.7K
$547.5K – $730.0K
NOI $43,802 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.48M
$3.05M – $4.07M
NOI $243,936 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,776
Businesses Nearby
Explore this area
Business Placement
Demographics for 10024, NY
62,250
Population
36,723
Households
1.7
Avg Household Size
43
Median Age
84%
College-Educated
97%
High-School Grad
0.9 sq mi
ZIP Area
69,167
Density / Sq Mi
$182,614
Median Household Income
$117,078
Median Earnings
$2,965
Median Rent
$1,746,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms, three balconies, and a wood-burning fireplace support flexible townhouse-style living.
Where is this residential income property located?
The property is located at 311 W 83RD Street 4A New York City, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2‑bedroom, 2 1/2‑bath duplex with cooperative ownership; 1,400‑square‑foot renovated residence with 9‑foot ceilings; Three balconies and a wood‑burning fireplace
