Cipriani Club Residence Apartment
For Sale
$795,000
55 Wall Street 548, New York City, NY 10005
Loft-style residence with open layout, soaring ceilings, oversized windows, and a lofted bedroom within a fully serviced building.
Property Size948 SF
Price / SF$838.61
Days on Market317
Property Features for 55 Wall Street 548
General Information
Standard status
Active
Size
948 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$21,828
Amenities
private restaurant and bar
wine cellar
library
barber shop
fitness center
spa
landscaped garden
white-glove butler service
Building Details
Building Size
948 SF
Year Built
1842
Construction
Beaux-Arts
Listing Agency:
Keller Williams NYC
(917) 468-7477
Listed By:
Andrew P Ziff
(917) 468-7477
Source:
Cbwarburg
Added: Sep 28, 2025
Changed: Aug 8
Last Checked: Aug 10 at 9:48AM
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 Keller Williams NYC
Investment Insights
Based on property information with market context.
Apartment 548 at the Cipriani Club Residences is a loft-style residence with an open layout, soaring ceilings, and oversized windows. The interior includes a stairway leading to a lofted bedroom with generous closet space and a vantage over the living and dining areas. A state-of-the-art kitchen is outfitted with premium finishes and appliances.
This residence is located within 55 Wall Street, a historic Beaux-Arts building originally designed by Isaiah Rogers and later expanded by McKim, Mead & White. Built in 1842, the home is fully serviced and is positioned within the Financial District. Residents have access to Cipriani Club amenities including a private restaurant and bar, wine cellar, library, barber shop, fitness center, spa, landscaped garden, and white-glove butler service.
For residents seeking a serviced, amenity-rich pied-à-terre, the combination of an open loft layout and club-level offerings is the centerpiece of Apartment 548.
This residence is located within 55 Wall Street, a historic Beaux-Arts building originally designed by Isaiah Rogers and later expanded by McKim, Mead & White. Built in 1842, the home is fully serviced and is positioned within the Financial District. Residents have access to Cipriani Club amenities including a private restaurant and bar, wine cellar, library, barber shop, fitness center, spa, landscaped garden, and white-glove butler service.
For residents seeking a serviced, amenity-rich pied-à-terre, the combination of an open loft layout and club-level offerings is the centerpiece of Apartment 548.
Key Highlights
- Loft‑style open layout with soaring ceilings and oversized windows
- Stairway leading to a lofted bedroom with generous closet space
- Premium finishes and appliances in a state‑of‑the‑art kitchen
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
$29,660
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
3.73%
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%
$593,200
$593.2K
Cap Rate 7%
$423,714
$423.7K
Cap Rate 9%
$329,556
$329.6K
Market Conditions
NOI Build-Up for 948 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
$56.8K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$53.9K $56.89/SF
− OpEx
−$24.3K −$25.60/SF
NOI
$29.7K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /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%
$593,200
Cap Rate 7%
$423,714
Cap Rate 9%
$329,556
Alternative Uses
Best Use
Apartment 5plus
$423.7K
$370.8K – $494.3K
NOI $29,660 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $165,180 @ 7.0% cap · market cap 20.78%
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
27,774
Businesses Nearby
Explore this area
Business Placement
Demographics for 10005, NY
10,639
Population
6,495
Households
1.6
Avg Household Size
31
Median Age
84%
College-Educated
97%
High-School Grad
0.1 sq mi
ZIP Area
106,390
Density / Sq Mi
$211,810
Median Household Income
$133,727
Median Earnings
$3,501
Median Rent
$1,387,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Loft-style residence with open layout, soaring ceilings, oversized windows, and a lofted bedroom within a fully serviced building.
Where is this residential income property located?
The property is located at 55 Wall Street 548 New York City, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Loft‑style open layout with soaring ceilings and oversized windows; Stairway leading to a lofted bedroom with generous closet space; Premium finishes and appliances in a state‑of‑the‑art kitchen
