Historic Two-Family
For Sale
$3,000,000
352 W 122nd Street, New York City, NY 10027
Legal two-family residence with a separate garden apartment and restored period details.
Property Size3,840 SF
Price / SF$781.25
Days on Market14
Property Features for 352 W 122nd Street
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
put the finishing touches
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,699
Amenities
fireplaces
laundry room
cellar
Building Details
Building Size
3,840 SF
Buildings
1
Listing Agency:
Compass
Listed By:
Colin F Turek
(646) 912-4058
Source:
Miradorrealestate
Added: Sep 5
Changed: Sep 14
Last Checked: Sep 16 at 10:11PM
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
Investment Insights
Based on property information with market context.
This legal two-family townhouse combines a 4BR/2BA triplex with a separate 1BR/1BA garden apartment. The upper residence includes a grand parlor, formal dining room, six fireplaces, period woodwork, vintage hardware, and a top-floor laundry room. A full cellar adds an extra bathroom. Recent work includes updated plumbing, upgraded electrical, a new boiler, replacement flooring, and restoration of the interior woodwork.
Located at 352 W 122nd St in New York, the property is a half block from Morningside Park and near Columbia University, neighborhood restaurants, cafés, bakeries, and fitness options. Subway service includes the A, B, C, D, 2, and 3 lines. Walk Score is 93, Transit Score is 100, and bikeScore is 77.
Located at 352 W 122nd St in New York, the property is a half block from Morningside Park and near Columbia University, neighborhood restaurants, cafés, bakeries, and fitness options. Subway service includes the A, B, C, D, 2, and 3 lines. Walk Score is 93, Transit Score is 100, and bikeScore is 77.
Key Highlights
- Legal two‑family townhouse with a 4BR/2BA triplex and separate 1BR/1BA garden apartment
- 60‑foot building depth with an expansive townhouse layout
- Six fireplaces, restored period woodwork, vintage hardware, and ornate trim
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
$129,959
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
4.33%
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%
$2,599,180
$2.6M
Cap Rate 7%
$1,856,557
$1.9M
Cap Rate 9%
$1,443,989
$1.4M
Market Conditions
NOI Build-Up for 3,840 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
$195.8K $51.00/SF
− Vacancy
−$10.2K −$2.65/SF
EGI
$185.7K $48.35/SF
− OpEx
−$55.7K −$14.50/SF
NOI
$130.0K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,599,180
Cap Rate 7%
$1,856,557
Cap Rate 9%
$1,443,989
Alternative Uses
Best Use
Multifamily LT 5
$1.86M
$1.62M – $2.17M
NOI $129,959 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$1.72M
$1.50M – $2.00M
NOI $120,143 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$9.56M
$8.36M – $11.15M
NOI $669,082 @ 7.0% cap · market cap 22.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,585
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family residence with a separate garden apartment and restored period details.
Where is this duplex located?
The property is located at 352 W 122nd Street New York City, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Legal two‑family townhouse with a 4BR/2BA triplex and separate 1BR/1BA garden apartment; 60‑foot building depth with an expansive townhouse layout; Six fireplaces, restored period woodwork, vintage hardware, and ornate trim
