Yorkville Multifamily with Office
For Sale
$5,200,000
326 E 93rd Street New York, Manhattan, NY 10128
Five-story, 10-unit multifamily building plus a two-room office suite with a half bath and direct garden access.
Property Size8,448 SF
Price / SF$615.53
Days on Market52
Property Features for 326 E 93rd Street New York
General Information
Standard status
Active
Size
8,448 SF
Property subtype
Commercial
Units
Multifamily Units
10
Office Units
1
Additional Details
Cap Rate
5.5%
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$64,948
Amenities
private landscaped rear yard
Building Details
Year Built
1910
Stories
5
Listing Agency:
RE/MAX Town & Country
(718) 358-4000
Listed By:
Howard Payson (hjpayson@gmail.com)
Source:
Exitrealtyteam
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 8 at 8:21AM
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 RE/MAX Town & Country
Investment Insights
Based on property information with market context.
326 East 93rd Street is a five-story, 10-unit multifamily property with an additional office suite. The residential configuration includes two one-bedroom apartments (Units 1A and 1B) and eight two-bedroom apartments (Units 2A, 2B, 3A, 3B, 4A, 4B, 5A, and 5B). Unit 1C is configured as a two-room office with a half bath and direct access to the private rear garden.
A standout feature is the expansive private landscaped rear yard, offering a courtyard setting with established garden beds and mature greenery. The building is located on tree-lined streets in Manhattan’s Yorkville neighborhood, with access to nearby restaurants, shopping, parks, medical institutions, the Second Avenue subway, and the FDR Drive.
The unit mix includes seven free-market units, two rent-stabilized units, and one rent-controlled unit. The property is described as offered in turnkey condition for a new owner or operator.
A standout feature is the expansive private landscaped rear yard, offering a courtyard setting with established garden beds and mature greenery. The building is located on tree-lined streets in Manhattan’s Yorkville neighborhood, with access to nearby restaurants, shopping, parks, medical institutions, the Second Avenue subway, and the FDR Drive.
The unit mix includes seven free-market units, two rent-stabilized units, and one rent-controlled unit. The property is described as offered in turnkey condition for a new owner or operator.
Key Highlights
- Five‑story, 10‑unit multifamily building plus a two‑room office suite with a half bath and direct access to the private rear garden
- Approx. 8,448 SF total and built in 1910
- Residential unit mix: 2 one‑bedroom apartments (1A, 1B) and 8 two‑bedroom apartments (2A, 2B, 3A, 3B, 4A, 4B, 5A, 5B)
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
$263,759
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
5.07%
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%
$5,275,180
$5.3M
Cap Rate 7%
$3,767,986
$3.8M
Cap Rate 9%
$2,930,656
$2.9M
Market Conditions
NOI Build-Up for 8,448 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
$505.9K $59.88/SF
− Vacancy
−$26.3K −$3.11/SF
EGI
$479.6K $56.77/SF
− OpEx
−$215.8K −$25.54/SF
NOI
$263.8K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
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%
$5,275,180
Cap Rate 7%
$3,767,986
Cap Rate 9%
$2,930,656
Alternative Uses
Best Use
Apartment 5plus
$3.77M
$3.30M – $4.40M
NOI $263,759 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.01M
$5.26M – $7.01M
NOI $420,461 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
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 - Five-story, 10-unit multifamily building plus a two-room office suite with a half bath and direct garden access.
Where is this apartment building located?
The property is located at 326 E 93rd Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Five‑story, 10‑unit multifamily building plus a two‑room office suite with a half bath and direct access to the private rear garden; Approx. 8,448 SF total and built in 1910; Residential unit mix: 2 one‑bedroom apartments (1A, 1B) and 8 two‑bedroom apartments (2A, 2B, 3A, 3B, 4A, 4B, 5A, 5B)
