Two-Bedroom Duplex with Rooftop
For Sale
$999,000
424 W 49TH Street 6B, New York City, NY 10019
Two-level residence with a private terrace, open kitchen, storage locker, and flexible subletting options.
Property Size893 SF
Price / SF$1,118
Days on Market27
Property Features for 424 W 49TH Street 6B
General Information
Standard status
Active
Size
893 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private rooftop terrace
private storage locker
washer/dryer
Building Details
Building Size
893 SF
Year Built
1910
Stories
6
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 521-5710
Listed By:
Mitchell J Seligman
(212) 521-5710
Source:
Carlinwright
Added: Jul 15
Changed: Aug 8
Last Checked: Aug 10 at 9:36AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom duplex residence is located within a six-story condominium and features a private rooftop terrace measuring 23 x 13 feet. The first floor includes an open kitchen and living room, one bedroom, a full bathroom, and a washer/dryer. The kitchen has stainless steel appliances, a gas range, wine refrigerator, mosaic-tiled backsplash, granite countertops, and a large breakfast bar. Hardwood floors and multiple windows with southern exposure bring natural light throughout the living areas. Upstairs, the primary suite connects directly to the terrace through new folding doors and includes an en suite bathroom.
The property also includes a private basement storage locker. The condominium is pet friendly and permits pied-à-terre use along with short- and long-term subletting without board approval. Located at 424 W 49th Street in Hell's Kitchen/Midtown West, the residence is near neighborhood parks, the Hudson River Greenway, Central Park, shopping, dining, entertainment, bus service, CitiBike stations, 12th Avenue, and A/C/E, 1, N/R/W, and B/D subway lines.
The property also includes a private basement storage locker. The condominium is pet friendly and permits pied-à-terre use along with short- and long-term subletting without board approval. Located at 424 W 49th Street in Hell's Kitchen/Midtown West, the residence is near neighborhood parks, the Hudson River Greenway, Central Park, shopping, dining, entertainment, bus service, CitiBike stations, 12th Avenue, and A/C/E, 1, N/R/W, and B/D subway lines.
Key Highlights
- Two‑bedroom, two‑bathroom duplex residence
- Private rooftop terrace measuring 23 x 13 feet
- Kitchen with stainless steel appliances, gas range, wine refrigerator, and granite countertops
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
$27,940
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
2.80%
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%
$558,800
$558.8K
Cap Rate 7%
$399,143
$399.1K
Cap Rate 9%
$310,444
$310.4K
Market Conditions
NOI Build-Up for 893 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
$53.5K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$50.8K $56.89/SF
− OpEx
−$22.9K −$25.60/SF
NOI
$27.9K $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 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%
$558,800
Cap Rate 7%
$399,143
Cap Rate 9%
$310,444
Alternative Uses
Best Use
Apartment 5plus
$399.1K
$349.3K – $465.7K
NOI $27,940 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,596 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
42,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with a private terrace, open kitchen, storage locker, and flexible subletting options.
Where is this residential income property located?
The property is located at 424 W 49TH Street 6B New York City, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom duplex residence; Private rooftop terrace measuring 23 x 13 feet; Kitchen with stainless steel appliances, gas range, wine refrigerator, and granite countertops
