Two-Bedroom Residential Income
For Sale
$749,000
510 W 110th Street 9F, New York City, NY 10025
Ninth-floor apartment with flexible bedroom configuration, renovated windowed bath, and building services including a full-time doorman.
Property Size682 SF
Price / SF$1,098
Days on Market98
Property Features for 510 W 110th Street 9F
General Information
Standard status
Active
Size
682 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,660
Amenities
doorman
live-in superintendent
laundry room
storage room
bike room
pet-friendly
hardwood floors
high ceilings
dishwasher
windowed bathroom
Building Details
Building Size
682 SF
Year Built
1909
Listing Agency:
Sothebys International Realty
(917) 865-0905
Listed By:
Wellington Cordova
(917) 865-0905
Source:
Nobleblackandpartners
Added: May 5
Changed: Aug 5
Last Checked: Aug 10 at 10:02AM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
This residential income property occupies the ninth floor and is currently arranged as a two-bedroom residence, with the option to return to the original one-bedroom layout through seller conversion. The home features southern, eastern, and western exposures, hardwood floors, high ceilings, generous closet space, and a kitchen equipped with a dishwasher and substantial cabinetry. Its renovated bathroom includes a window and contemporary finishes. The king-sized bedroom accommodates a large bed and additional furnishings.
The 1909 building provides a full-time doorman, elevator, live-in superintendent, on-site maintenance, laundry room, storage, and bike room. Pets are permitted, while subletting and financing require board approval. Heat, water, and electricity are included in the monthly common charge. Columbia University, the 1, B, and C trains, buses, Citi Bike, and the Henry Hudson Parkway are minutes away.
The 1909 building provides a full-time doorman, elevator, live-in superintendent, on-site maintenance, laundry room, storage, and bike room. Pets are permitted, while subletting and financing require board approval. Heat, water, and electricity are included in the monthly common charge. Columbia University, the 1, B, and C trains, buses, Citi Bike, and the Henry Hudson Parkway are minutes away.
Key Highlights
- Current two‑bedroom layout with seller option to restore original one‑bedroom configuration
- Ninth‑floor residence with southern, eastern, and western exposures
- Renovated windowed bathroom with contemporary finishes
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
$22,450
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
3.00%
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%
$449,000
$449.0K
Cap Rate 7%
$320,714
$320.7K
Cap Rate 9%
$249,444
$249.4K
Market Conditions
NOI Build-Up for 682 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
$43.0K $63.00/SF
− Vacancy
−$2.1K −$3.15/SF
EGI
$40.8K $59.85/SF
− OpEx
−$18.4K −$26.93/SF
NOI
$22.4K $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%
$449,000
Cap Rate 7%
$320,714
Cap Rate 9%
$249,444
Alternative Uses
Best Use
Apartment 5plus
$320.7K
$280.6K – $374.2K
NOI $22,450 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.69M
$2.36M – $3.14M
NOI $188,559 @ 7.0% cap · market cap 25.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
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 - Ninth-floor apartment with flexible bedroom configuration, renovated windowed bath, and building services including a full-time doorman.
Where is this residential income property located?
The property is located at 510 W 110th Street 9F New York City, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Current two‑bedroom layout with seller option to restore original one‑bedroom configuration; Ninth‑floor residence with southern, eastern, and western exposures; Renovated windowed bathroom with contemporary finishes
