Renovated Three-Family
For Sale
$2,950,000
46 W 126th Street, New York City, NY 10027
Renovated legal three-family brownstone with an owner triplex, two income-producing apartments, and a private backyard.
Property Size5,000 SF
Lot Size0.05 Acres
Price / SF$590
Days on Market55
Property Features for 46 W 126th Street
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$27,825
Building Details
Building Size
5,000 SF
Year Built
1910
Listing Agency:
Nest Seekers LLC
(917) 528-2691
Listed By:
Angelo Medda
(917) 528-2691
Source:
Miradorrealestate
Added: Jul 1
Changed: Aug 23
Last Checked: Aug 24 at 12:47PM
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 Nest Seekers LLC
Investment Insights
Based on property information with market context.
Renovated 20-foot-wide legal three-family brownstone offering approximately 5,000 square feet of interior living space. The home features an expansive approximately 3,000-square-foot owner’s triplex with soaring 12-foot ceilings, oversized windows, and thoughtfully designed open-concept living and entertaining spaces with contemporary finishes. A private approximately 1,000-square-foot backyard extends the home outdoors for entertaining and everyday use.
The property also includes two income-producing apartments. Both apartments present the potential to be reconfigured into two three-bedroom residences, subject to applicable approvals.
Located on the western side of Central Harlem, west of Fifth Avenue, the home is positioned on a picturesque tree-lined residential block near restaurants, cafés, parks, and shopping. Transit access includes the A, B, C, D, 2, and 3 subway lines, providing service to Midtown, Hudson Yards, and the Financial District, with nearby destinations including Marcus Garvey Park, St. Nicholas Park, and Morningside Park.
The property also includes two income-producing apartments. Both apartments present the potential to be reconfigured into two three-bedroom residences, subject to applicable approvals.
Located on the western side of Central Harlem, west of Fifth Avenue, the home is positioned on a picturesque tree-lined residential block near restaurants, cafés, parks, and shopping. Transit access includes the A, B, C, D, 2, and 3 subway lines, providing service to Midtown, Hudson Yards, and the Financial District, with nearby destinations including Marcus Garvey Park, St. Nicholas Park, and Morningside Park.
Key Highlights
- Renovated legal three‑family brownstone with approximately 5,000 SF of interior living space
- Approximately 3,000 SF owner’s triplex with 12‑foot ceilings and oversized windows
- Two income‑producing apartments; potential to reconfigure into two three‑bedroom rental units (subject to applicable approvals)
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
$169,218
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
5.74%
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%
$3,384,360
$3.4M
Cap Rate 7%
$2,417,400
$2.4M
Cap Rate 9%
$1,880,200
$1.9M
Market Conditions
NOI Build-Up for 5,000 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
$255.0K $51.00/SF
− Vacancy
−$13.3K −$2.65/SF
EGI
$241.7K $48.35/SF
− OpEx
−$72.5K −$14.50/SF
NOI
$169.2K $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%
$3,384,360
Cap Rate 7%
$2,417,400
Cap Rate 9%
$1,880,200
Alternative Uses
Best Use
Multifamily LT 5
$2.42M
$2.12M – $2.82M
NOI $169,218 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$2.23M
$1.96M – $2.61M
NOI $156,437 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$12.45M
$10.89M – $14.52M
NOI $871,200 @ 7.0% cap · market cap 29.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,819
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated legal three-family brownstone with an owner triplex, two income-producing apartments, and a private backyard.
Where is this triplex located?
The property is located at 46 W 126th Street New York City, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Renovated legal three‑family brownstone with approximately 5,000 SF of interior living space; Approximately 3,000 SF owner’s triplex with 12‑foot ceilings and oversized windows; Two income‑producing apartments; potential to reconfigure into two three‑bedroom rental units (subject to applicable approvals)
