Mixed-Use Elevator
For Sale
$17,500,000
336 W 23RD ST, New York, NY 10011
Vacant multi-level property combining residential layouts, retail space, private terraces, and a garden.
Property Size16,000 SF
Price / SF$1,093
Days on Market23
Property Features for 336 W 23RD ST
General Information
Standard status
Active
Size
16,000 SF
Property subtype
Commercial
Site & Location
Frontage
25 ft
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$127,940
Amenities
private terraces
private garden
soaring ceilings
refined architectural details
restored marble fireplaces
chandeliers
dedicated elevator access
upgraded mechanicals
direct metering
Building Details
Year Built
1910
Buildings
1
Stories
8
Construction
Italianate
Listing Agency:
Douglas Elliman Real Estate
Listed By:
John Gasdaska · License #30GA0898127
(212) 891-7167
Source:
Elliman
Added: Aug 13
Changed: Sep 3
Last Checked: Sep 2 at 8:07PM
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 25-foot-wide Italianate-style townhouse is configured as a mixed-use elevator property spanning approximately 16,000 square feet across eight levels. The building is delivered vacant and includes two duplex residences, a penthouse guest suite, and a retail triplex with dedicated elevator access. Private terraces, north- and south-facing terrace views, a garden, marble fireplaces, chandeliers, upgraded mechanical systems, and direct metering are among the existing features.
The commercial portion provides street-level retail space with a private garden and architectural details suited to a range of potential configurations. The overall layout also supports a live-work arrangement, residential use, or a combination of residential and commercial components, subject to applicable approvals.
The commercial portion provides street-level retail space with a private garden and architectural details suited to a range of potential configurations. The overall layout also supports a live-work arrangement, residential use, or a combination of residential and commercial components, subject to applicable approvals.
Key Highlights
- Approximately 16,000 square feet arranged across eight levels
- 25‑foot‑wide Italianate‑style townhouse with elevator service
- Two duplex residences plus a penthouse guest suite
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
$510,000
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
2.91%
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%
$10,200,000
$10.2M
Cap Rate 7%
$7,285,714
$7.3M
Cap Rate 9%
$5,666,667
$5.7M
Market Conditions
NOI Build-Up for 16,000 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
$960.0K $60.00/SF
− Vacancy
−$144.0K −$9.00/SF
EGI
$816.0K $51.00/SF
− OpEx
−$306.0K −$19.13/SF
NOI
$510.0K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$10,200,000
Cap Rate 7%
$7,285,714
Cap Rate 9%
$5,666,667
Alternative Uses
Best Use
Retail
$32.17M
$28.14M – $37.53M
NOI $2,251,592 @ 7.0% cap · market cap 12.87%
Second Best
Mixed Use
$7.29M
$6.38M – $8.50M
NOI $510,000 @ 7.0% cap · market cap 2.91%
Theoretical Best
Specialty Retail
$39.83M
$34.85M – $46.46M
NOI $2,787,840 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44,938
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant multi-level property combining residential layouts, retail space, private terraces, and a garden.
Where is this mixed-use property located?
The property is located at 336 W 23RD ST New York, NY.
What is the asking price?
The asking price for this property is $17,500,000.
What are key features of this property?
This property features: Approximately 16,000 square feet arranged across eight levels; 25‑foot‑wide Italianate‑style townhouse with elevator service; Two duplex residences plus a penthouse guest suite
