Pre-War Residential Income
For Sale
$695,000
504-510 W 110th Street 2E, New York City, NY 10025
One-bedroom condominium residence with classic details, abundant storage, and full-service building amenities.
Property Size657 SF
Price / SF$1,057
Days on Market17
Property Features for 504-510 W 110th Street 2E
General Information
Standard status
Active
Size
657 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,120
Amenities
24-hour doorman
resident super
laundry room
bike storage
Building Details
Building Size
657 SF
Year Built
1909
Listing Agency:
Compass
Listed By:
Keith E Jacoby
(917) 684-9424
Source:
Howardhannanyc
Added: Sep 8
Changed: Sep 19
Last Checked: Sep 22 at 10:46PM
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.
Apartment 2E is a one-bedroom residence within the Amherst-Cortlandt, a pre-war condominium completed in 1909. The layout is described as spacious and may be converted to two bedrooms. Three exposures, including a southern exposure, bring natural light into the home, while hardwood floors, high ceilings, large windows, and multiple closets add practical and historic character. Electricity is included in the monthly common charge.
Building services include a 24-hour doorman, resident superintendent, laundry room, and bike storage. Columbia University, Barnard College, Manhattan School of Music, and Bank Street College of Education are in the immediate vicinity. The 1 train and crosstown buses are less than one block away, with restaurants, shopping, and nightlife nearby.
Building services include a 24-hour doorman, resident superintendent, laundry room, and bike storage. Columbia University, Barnard College, Manhattan School of Music, and Bank Street College of Education are in the immediate vicinity. The 1 train and crosstown buses are less than one block away, with restaurants, shopping, and nightlife nearby.
Key Highlights
- One‑bedroom layout described as convertible to two bedrooms
- Three exposures, including southern exposure, provide natural light
- Pre‑war condominium building completed in 1909
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
$21,627
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
3.11%
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%
$432,540
$432.5K
Cap Rate 7%
$308,957
$309.0K
Cap Rate 9%
$240,300
$240.3K
Market Conditions
NOI Build-Up for 657 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
$41.4K $63.00/SF
− Vacancy
−$2.1K −$3.15/SF
EGI
$39.3K $59.85/SF
− OpEx
−$17.7K −$26.93/SF
NOI
$21.6K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /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%
$432,540
Cap Rate 7%
$308,957
Cap Rate 9%
$240,300
Alternative Uses
Best Use
Apartment 5plus
$309.0K
$270.3K – $360.5K
NOI $21,627 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.59M
$2.27M – $3.03M
NOI $181,647 @ 7.0% cap · market cap 26.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,974
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium residence with classic details, abundant storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 504-510 W 110th Street 2E New York City, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: One‑bedroom layout described as convertible to two bedrooms; Three exposures, including southern exposure, provide natural light; Pre‑war condominium building completed in 1909
