Loft-Style Residential Income
347 W 39th Street 6W, Manhattan, NY 10018
For Sale
$1,650,000
The co-op includes an in-unit washer/dryer and dishwasher, with a shared roof deck and full-time live-in superintendent.
Property Size1,650 SF
Price / SF$1,000
Days on Market25
Property Features for 347 W 39th Street 6W
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
in-unit washer/dryer
dishwasher
video intercom system
full-time live-in super
shared roof deck
Building Details
Building Size
Year Built
Stories
Construction
Listing Agency:
Compass
Listed By:
Susanne V Columbia · License NY 30CO0945857
(917) 767-4489
Source:
Irynaferenets
Added: Oct 16
Changed: Nov 9
Last Checked: Nov 8 at 7:39PM
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 Compass
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Investment Insights
Based on property information with market context.
On the sixth floor of a 14-story Art Deco building completed in 1928, this 1,650-square-foot co-op has a loft-style layout, 10'8" ceilings, oversized windows, and southern exposure. Its current plan includes one oversized bedroom and one-and-a-half bathrooms. With board approval, the layout can be reworked to provide more than two bedrooms and an additional full bathroom. An in-unit washer/dryer and dishwasher are included.
The building has 33 residences, a lobby with Art Deco detailing, two elevators, video intercom, a full-time live-in superintendent, and a shared roof deck. It is near the High Line, the Chelsea gallery district, dining, and multiple subway lines. Pets, pied-à-terre use, and subletting are permitted.
The building has 33 residences, a lobby with Art Deco detailing, two elevators, video intercom, a full-time live-in superintendent, and a shared roof deck. It is near the High Line, the Chelsea gallery district, dining, and multiple subway lines. Pets, pied-à-terre use, and subletting are permitted.
Key Highlights
- 1,650‑square‑foot co‑op on the sixth floor of a 1928 building
- 10'8" ceilings, oversized windows, and southern exposure
- Current layout has one oversized bedroom and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,624
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,480
$1.0M
Cap Rate 7%
$737,486
$737.5K
Cap Rate 9%
$573,600
$573.6K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$98.8K $59.88/SF
− Vacancy
−$4.9K −$2.99/SF
EGI
$93.9K $56.89/SF
− OpEx
−$42.2K −$25.60/SF
NOI
$51.6K $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 Rate 5%
$1,032,480
Cap Rate 7%
$737,486
Cap Rate 9%
$573,600
Alternative Uses
Best Use
Apartment 5plus
$737.5K
$645.3K – $860.4K
NOI $51,624 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,749 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
55,039
Businesses Nearby
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Business Placement
Demographics for 10018, NY
11,145
Population
5,678
Households
2
Avg Household Size
35
Median Age
75%
College-Educated
92%
High-School Grad
0.3 sq mi
ZIP Area
37,150
Density / Sq Mi
$133,042
Median Household Income
$103,655
Median Earnings
$3,501
Median Rent
$947,100
Median Home Value
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - The co-op includes an in-unit washer/dryer and dishwasher, with a shared roof deck and full-time live-in superintendent.
Where is this residential income property located?
The property is located at 347 W 39th Street 6W Manhattan, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 1,650‑square‑foot co‑op on the sixth floor of a 1928 building; 10'8" ceilings, oversized windows, and southern exposure; Current layout has one oversized bedroom and 1.5 bathrooms
