Renovated Triplex
For Sale
$2,160,000
521 W 162nd Street New York, Manhattan, NY 10032
Three-family residence with a duplex owner’s unit, two rental apartments, updated interiors, and outdoor space.
Property Size3,724 SF
Days on Market138
Property Features for 521 W 162nd Street New York
General Information
Standard status
Active
Size
3,724 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR, 2 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,592
Amenities
skylights
exposed brick
hardwood floors
gas fireplace
chef's island kitchen
laundry
back yard
Building Details
Building Size
3,724 SF
Year Built
1920
Buildings
1
Construction
limestone-facade
Tenancy
Multi
Listing Agency:
Harlem Lofts Inc.
(212) 280-8866
Listed By:
Robert D. Pair · License #31PA1003506
Source:
Serhant
Added: Apr 6
Changed: Aug 20
Last Checked: Aug 20 at 11:18AM
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 Harlem Lofts Inc.
Investment Insights
Based on property information with market context.
This 1920 limestone-façade townhouse is configured as three residences within a 19-foot-wide building. The upper portion includes a three-bedroom duplex with an open loft-like main level, high ceilings, skylights, exposed brick and rafters, hardwood flooring, a gas fireplace, dining area, island kitchen, two bathrooms, laundry, and a primary suite with an en-suite bath and walk-in closet. Two additional renovated apartments, each with two bedrooms, occupy the parlor and garden levels. Both include open kitchen and dining areas, exposed brick, and in-unit laundry. A rear yard is accessible from the basement and garden levels.
The property is a 15-minute walk from City College and near Columbia Presbyterian Medical Center and the Jumel Terrace historical district. Broadway and St. Nicholas Avenue provide nearby shopping, dining, cafés, and bars. Transit access includes the C subway line at 163rd Street, along with the M2, M3, and M100 bus routes.
The property is a 15-minute walk from City College and near Columbia Presbyterian Medical Center and the Jumel Terrace historical district. Broadway and St. Nicholas Avenue provide nearby shopping, dining, cafés, and bars. Transit access includes the C subway line at 163rd Street, along with the M2, M3, and M100 bus routes.
Key Highlights
- Three‑family configuration with a three‑bedroom owner’s duplex and two two‑bedroom apartments
- 1920 limestone‑façade townhouse measuring 19 feet wide
- Renovated interiors with exposed brick, hardwood floors, skylights, and high ceilings
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
$126,034
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
5.83%
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%
$2,520,680
$2.5M
Cap Rate 7%
$1,800,486
$1.8M
Cap Rate 9%
$1,400,378
$1.4M
Market Conditions
NOI Build-Up for 3,724 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
$189.9K $51.00/SF
− Vacancy
−$9.9K −$2.65/SF
EGI
$180.0K $48.35/SF
− OpEx
−$54.0K −$14.50/SF
NOI
$126.0K $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%
$2,520,680
Cap Rate 7%
$1,800,486
Cap Rate 9%
$1,400,378
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,034 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$1.66M
$1.46M – $1.94M
NOI $116,514 @ 7.0% cap · market cap 5.39%
Theoretical Best
Specialty Retail
$9.27M
$8.11M – $10.81M
NOI $648,870 @ 7.0% cap · market cap 30.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 10032, NY
55,170
Population
23,178
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
76%
High-School Grad
0.7 sq mi
ZIP Area
78,814
Density / Sq Mi
$56,588
Median Household Income
$40,755
Median Earnings
$1,546
Median Rent
$545,500
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 - Three-family residence with a duplex owner’s unit, two rental apartments, updated interiors, and outdoor space.
Where is this triplex located?
The property is located at 521 W 162nd Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $2,160,000.
What are key features of this property?
This property features: Three‑family configuration with a three‑bedroom owner’s duplex and two two‑bedroom apartments; 1920 limestone‑façade townhouse measuring 19 feet wide; Renovated interiors with exposed brick, hardwood floors, skylights, and high ceilings
