Two-Family Townhouse Near Central
For Sale
$6,200,000
Pending
51 E 75TH St, New York, NY 10021
Two-family townhouse with period details near Central Park.
Property Size5,320 SF
Lot Size0.04 Acres
Days on Market169
Property Features for 51 E 75TH St
General Information
Standard status
Pending
Size
5,320 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$101,076
Building Details
Building Size
5,320 SF
Year Built
1899
Listing Agency:
Leslie J Garfield & Co Inc
(212) 371-8200
Listed By:
Caylyn Sullivan · License #10311200483
(212) 371-8200
Source:
Elliman
Added: Mar 10
Changed: Aug 22
Last Checked: Aug 24 at 9:53AM
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 Leslie J Garfield & Co Inc
Investment Insights
Based on property information with market context.
The property at 51 East 75th Street is a two-family townhouse configured as a lower triplex and an upper duplex. The residence features period details, including crown and ceiling moldings, ornate mantels, and hardwood floors. The parlor floor has ceiling heights exceeding 12 feet. The layout includes living spaces suitable for everyday living and entertaining. Outdoor spaces consist of a private garden, a front parlor balcony accessed through French doors, and an upper terrace off the renovated upper duplex. The property offers the option to live with income or consider a single-family conversion. Located between Madison and Park Avenues, it is near Central Park and Madison Avenue's retail area, as well as hotels such as The Carlyle and The Mark.
Key Highlights
- Prime Upper East Side location: Steps from Central Park and Madison Avenue's retail, near world‑class hotels.
- Two‑family townhouse: Configured as a lower triplex and upper duplex, offering income potential or single‑family conversion.
- Grand proportions and period details: Features include intricate moldings, ornate mantels, and hardwood floors.
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
$180,048
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
2.90%
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%
$3,600,960
$3.6M
Cap Rate 7%
$2,572,114
$2.6M
Cap Rate 9%
$2,000,533
$2.0M
Market Conditions
NOI Build-Up for 5,320 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
$271.3K $51.00/SF
− Vacancy
−$14.1K −$2.65/SF
EGI
$257.2K $48.35/SF
− OpEx
−$77.2K −$14.50/SF
NOI
$180.0K $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%
$3,600,960
Cap Rate 7%
$2,572,114
Cap Rate 9%
$2,000,533
Alternative Uses
Best Use
Multifamily LT 5
$2.57M
$2.25M – $3.00M
NOI $180,048 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$2.38M
$2.08M – $2.77M
NOI $166,448 @ 7.0% cap · market cap 2.68%
Theoretical Best
Specialty Retail
$13.24M
$11.59M – $15.45M
NOI $926,957 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 10021, NY
45,691
Population
29,248
Households
1.6
Avg Household Size
41
Median Age
81%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
114,228
Density / Sq Mi
$156,712
Median Household Income
$99,886
Median Earnings
$3,002
Median Rent
$1,529,600
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?
Duplex - Two-family townhouse with period details near Central Park.
Where is this duplex located?
The property is located at 51 E 75TH St New York, NY.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: Prime Upper East Side location: Steps from Central Park and Madison Avenue's retail, near world‑class hotels.; Two‑family townhouse: Configured as a lower triplex and upper duplex, offering income potential or single‑family conversion.; Grand proportions and period details: Features include intricate moldings, ornate mantels, and hardwood floors.
