Fully Occupied Residential Income
For Sale
Contact for pricing
334 East 106th Street, New York, NY 10029
Fully occupied East Harlem rental property offered for sale with immediate in-place occupancy.
Property Size5,092 SF
Price / SF$736.45
Days on Market58
Property Features for 334 East 106th Street
General Information
Standard status
Active
Size
5,092 SF
Property subtype
Multifamily, Mixed Use
Zoning
R7A
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$229,098
Building Details
Year Built
1920
Stories
4
Units
7
Tenancy
Multi
Listing Agency:
JA Cohen Advisory Group LLC
(917) 533-8905
Listed By:
Jack A. Cohen · License #NY 10491209522
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 9 at 6:26AM
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 JA Cohen Advisory Group LLC
Investment Insights
Based on property information with market context.
This fully occupied residential income property is offered for sale at 334 East 106th Street in New York, NY 10029. The building is presented as a straightforward, occupied asset within the residential income category, designed for buyers seeking current utilization rather than a value tied to leasing-up.
Located in East Harlem, the property is described as benefiting from strong residential and commercial demand and transportation connectivity. With the asset already in place and fully occupied, day-to-day operations can be focused on maintaining resident experience and continued performance of the existing income stream.
For investors and buyers evaluating residential income holdings, the key consideration here is that the property is currently fully occupied. That means there is no leasing-up period reflected in the offering premise, and the buyer can underwrite the asset based on existing occupancy. As presented, it may also appeal to those looking to pair current income with a long-term view toward how neighborhood conditions can influence rental markets over time.
Located in East Harlem, the property is described as benefiting from strong residential and commercial demand and transportation connectivity. With the asset already in place and fully occupied, day-to-day operations can be focused on maintaining resident experience and continued performance of the existing income stream.
For investors and buyers evaluating residential income holdings, the key consideration here is that the property is currently fully occupied. That means there is no leasing-up period reflected in the offering premise, and the buyer can underwrite the asset based on existing occupancy. As presented, it may also appeal to those looking to pair current income with a long-term view toward how neighborhood conditions can influence rental markets over time.
Key Highlights
- Fully occupied rental property for sale with in‑place occupancy
- Located in East Harlem
- Built in 1920
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
$194,182
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
5.18%
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%
$3,883,640
$3.9M
Cap Rate 7%
$2,774,029
$2.8M
Cap Rate 9%
$2,157,578
$2.2M
Market Conditions
NOI Build-Up for 5,092 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
$366.6K $72.00/SF
− Vacancy
−$13.6K −$2.66/SF
EGI
$353.1K $69.34/SF
− OpEx
−$158.9K −$31.20/SF
NOI
$194.2K $38.13/SF
Area
ZIP 10029
Vacancy
3.70%
Lease Rate
$72.00 /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%
$3,883,640
Cap Rate 7%
$2,774,029
Cap Rate 9%
$2,157,578
Alternative Uses
Best Use
Apartment 5plus
$2.77M
$2.43M – $3.24M
NOI $194,182 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$18.17M
$15.90M – $21.20M
NOI $1,271,727 @ 7.0% cap · market cap 33.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 10029, NY
78,141
Population
36,955
Households
2.1
Avg Household Size
36
Median Age
36%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
65,118
Density / Sq Mi
$38,308
Median Household Income
$41,951
Median Earnings
$1,183
Median Rent
$818,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fully occupied East Harlem rental property offered for sale with immediate in-place occupancy.
Where is this residential income property located?
The property is located at 334 East 106th Street New York, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Fully occupied rental property for sale with in‑place occupancy; Located in East Harlem; Built in 1920
