Predominantly Free-Market Apartment
For Sale
$4,950,000
314 W 142nd St, New York, NY 10030
Walk-up apartment property in Harlem with a predominantly free-market unit mix and long-term family ownership.
Property Size8,400 SF
Price / SF$589.29
Days on Market11
Property Features for 314 W 142nd St
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Multifamily
Financials
Cap Rate
6.9%
Average Monthly Rent
$2,026
Units
Unit Mix
10 x studio, 1 x 1BR, 9 x 2BR
Multifamily Units
20
Amenities
314 West 142nd Street is a 20-unit 5 story walk-up spanning 8,400 SF.
90% Free Market | Tax Class: 2B | Zoning; R7-2
314 W 142nd Street is ideally located near the City College of New York, St. Nicholas Park, and the 145th Street train station for A,C,B, & D subway lines.
Building Details
Building Size
8,400 SF
Units
20
Listing Agency:
New York City Office
(212) 430-5136
Listed By:
Seth Glasser · License #License(s): NY: 10301209629
(212) 430-5136
Source:
Marcusmillichap
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 9 at 4:31AM
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 New York City Office
Investment Insights
Based on property information with market context.
314 West 142nd Street is a predominantly free-market walk-up apartment building in Harlem, located between Frederick Douglass Boulevard and Bradhurst Avenue. The property contains 20 apartments across 8,400 square feet and has been professionally owned and operated by the same family for nearly 40 years.
The unit mix includes 10 studios, 1 one-bedroom apartment, and 9 two-bedroom apartments. Approximately 90% of the property is free market, with 18 of the 20 apartments unencumbered by rent stabilization. The building offers a largely unrestricted rent roll within a residential multifamily configuration.
The unit mix includes 10 studios, 1 one-bedroom apartment, and 9 two-bedroom apartments. Approximately 90% of the property is free market, with 18 of the 20 apartments unencumbered by rent stabilization. The building offers a largely unrestricted rent roll within a residential multifamily configuration.
Key Highlights
- 20‑apartment walk‑up building at 314 West 142nd Street, New York, NY 10030
- 8,400 square feet across 20 apartments
- 90% free‑market property with 18 of 20 units unencumbered by rent stabilization
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
$262,813
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
5.31%
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%
$5,256,260
$5.3M
Cap Rate 7%
$3,754,471
$3.8M
Cap Rate 9%
$2,920,144
$2.9M
Market Conditions
NOI Build-Up for 8,400 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
$503.0K $59.88/SF
− Vacancy
−$25.1K −$2.99/SF
EGI
$477.8K $56.89/SF
− OpEx
−$215.0K −$25.60/SF
NOI
$262.8K $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%
$5,256,260
Cap Rate 7%
$3,754,471
Cap Rate 9%
$2,920,144
Alternative Uses
Best Use
Apartment 5plus
$3.75M
$3.29M – $4.38M
NOI $262,813 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$20.91M
$18.30M – $24.39M
NOI $1,463,616 @ 7.0% cap · market cap 29.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
6,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 10030, NY
29,686
Population
14,602
Households
2
Avg Household Size
36
Median Age
35%
College-Educated
78%
High-School Grad
0.3 sq mi
ZIP Area
98,953
Density / Sq Mi
$42,738
Median Household Income
$37,388
Median Earnings
$1,204
Median Rent
$810,100
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 - Walk-up apartment property in Harlem with a predominantly free-market unit mix and long-term family ownership.
Where is this apartment building located?
The property is located at 314 W 142nd St New York, NY.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 20‑apartment walk‑up building at 314 West 142nd Street, New York, NY 10030; 8,400 square feet across 20 apartments; 90% free‑market property with 18 of 20 units unencumbered by rent stabilization
