Four-Bedroom Residential Income
For Sale
$899,000
447 Fort Washington Avenue #22, New York City, NY 10033
Prewar cooperative residence with renovated interiors, generous proportions, and building amenities in Hudson Heights.
Property Size1,800 SF
Days on Market62
Property Features for 447 Fort Washington Avenue #22
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
bike storage
private storage
fitness room
laundry
Building Details
Building Size
1,800 SF
Year Built
1910
Stories
6
Listing Agency:
Compass
Listed By:
Kelly Cole
(917) 575-8375
Source:
Moravilla.kw
Added: Jul 9
Changed: Aug 30
Last Checked: Sep 8 at 3:27AM
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.
Located at 447 Fort Washington Avenue in Hudson Heights, this 7-room, four-bedroom residence occupies The Pinehurst, a prewar cooperative built in 1910. The layout includes a formal dining room, living room, windowed kitchen, home office, two and a half baths, and a primary suite with a walk-in closet. The kitchen has white shaker cabinetry, granite counters, and Samsung appliances, while both full bathrooms have been renovated. Additional interior details include 9-foot-6-inch ceilings, hardwood floors, skim-coated walls, and preserved early-1900s features.
The building provides a resident superintendent, bike storage, private storage, fitness room, and laundry facilities. Pets are permitted. Fort Tryon Park, the Cloisters, Hudson River bicycling trails, tennis courts, cafes, restaurants, and neighborhood services are nearby. The M4 and M98 express buses and the A express train provide public transportation access, with the train reaching midtown in 20 minutes.
The building provides a resident superintendent, bike storage, private storage, fitness room, and laundry facilities. Pets are permitted. Fort Tryon Park, the Cloisters, Hudson River bicycling trails, tennis courts, cafes, restaurants, and neighborhood services are nearby. The M4 and M98 express buses and the A express train provide public transportation access, with the train reaching midtown in 20 minutes.
Key Highlights
- Four‑bedroom, 7‑room residence with formal dining room and 2.5 baths
- Primary suite includes a large walk‑in closet and renovated full bathroom
- Windowed kitchen with white shaker cabinetry, granite counters, and Samsung appliances
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
$56,317
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
6.26%
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%
$1,126,340
$1.1M
Cap Rate 7%
$804,529
$804.5K
Cap Rate 9%
$625,744
$625.7K
Market Conditions
NOI Build-Up for 1,800 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
$107.8K $59.88/SF
− Vacancy
−$5.4K −$2.99/SF
EGI
$102.4K $56.89/SF
− OpEx
−$46.1K −$25.60/SF
NOI
$56.3K $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%
$1,126,340
Cap Rate 7%
$804,529
Cap Rate 9%
$625,744
Alternative Uses
Best Use
Apartment 5plus
$804.5K
$704.0K – $938.6K
NOI $56,317 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.48M
$3.92M – $5.23M
NOI $313,632 @ 7.0% cap · market cap 34.89%
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
8,140
Businesses Nearby
Explore this area
Business Placement
Demographics for 10033, NY
50,085
Population
21,338
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
83,475
Density / Sq Mi
$75,585
Median Household Income
$41,655
Median Earnings
$1,742
Median Rent
$709,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Prewar cooperative residence with renovated interiors, generous proportions, and building amenities in Hudson Heights.
Where is this residential income property located?
The property is located at 447 Fort Washington Avenue #22 New York City, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four‑bedroom, 7‑room residence with formal dining room and 2.5 baths; Primary suite includes a large walk‑in closet and renovated full bathroom; Windowed kitchen with white shaker cabinetry, granite counters, and Samsung appliances
