Corner Residential Income
For Sale
$750,000
55 Wall Street 600, New York City, NY 10005
Open-plan residence with oversized windows, en-suite spa bathroom, in-unit laundry, and full-service building amenities.
Property Size1,279 SF
Days on Market34
Property Features for 55 Wall Street 600
General Information
Standard status
Active
Size
1,279 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$29,376
Amenities
24-hour doorman
concierge
fitness center
business center
valet parking
landscaped courtyard
rooftop garden
butler service
housekeeping service
washer/dryer
private storage
dry cleaning and laundry services
personal shopping
lifestyle consulting
flowers and plant care
fresh flower service
dog-sitting
animal grooming
child care
packing and unpacking
newspaper delivery
Building Details
Building Size
1,279 SF
Year Built
1842
Construction
Classical Beaux-Arts
Listing Agency:
R New York
(212) 688-1000
Listed By:
Sanna Iriti
(212) 688-1000
Source:
Tricialee
Added: Jul 9
Changed: Aug 10
Last Checked: Aug 10 at 9:46AM
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 R New York
Investment Insights
Based on property information with market context.
This one-bedroom corner residence at 55 Wall Street occupies a condominium building completed in 1842. The layout combines living and dining areas with an open kitchen, while oversized windows frame historic Roman columns. The bedroom includes an en-suite bathroom with a Jacuzzi tub, separate shower, marble tile, and custom detailing. A washer and dryer are located within the apartment.
Building services include a 24-hour doorman, lobby attendant, concierge, fitness center, business center, valet parking, landscaped courtyard, and rooftop garden. Additional services include housekeeping, butler assistance, dry cleaning, private storage, grocery and delivery support, and pet and childcare services. The property is in New York City's Financial District, near Tiffany, Hermes, Reserve Cut, Bobby Van's Grill, Stone Street, and the South Seaport.
Building services include a 24-hour doorman, lobby attendant, concierge, fitness center, business center, valet parking, landscaped courtyard, and rooftop garden. Additional services include housekeeping, butler assistance, dry cleaning, private storage, grocery and delivery support, and pet and childcare services. The property is in New York City's Financial District, near Tiffany, Hermes, Reserve Cut, Bobby Van's Grill, Stone Street, and the South Seaport.
Key Highlights
- One‑bedroom corner residence at 55 Wall Street, New York City, NY 10005
- Condominium building completed in 1842
- Open kitchen and living‑dining plan with oversized windows
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
$40,016
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
5.34%
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%
$800,320
$800.3K
Cap Rate 7%
$571,657
$571.7K
Cap Rate 9%
$444,622
$444.6K
Market Conditions
NOI Build-Up for 1,279 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
$76.6K $59.88/SF
− Vacancy
−$3.8K −$2.99/SF
EGI
$72.8K $56.89/SF
− OpEx
−$32.7K −$25.60/SF
NOI
$40.0K $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%
$800,320
Cap Rate 7%
$571,657
Cap Rate 9%
$444,622
Alternative Uses
Best Use
Apartment 5plus
$571.7K
$500.2K – $666.9K
NOI $40,016 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.18M
$2.79M – $3.71M
NOI $222,853 @ 7.0% cap · market cap 29.71%
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 - Open-plan residence with oversized windows, en-suite spa bathroom, in-unit laundry, and full-service building amenities.
Where is this residential income property located?
The property is located at 55 Wall Street 600 New York City, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: One‑bedroom corner residence at 55 Wall Street, New York City, NY 10005; Condominium building completed in 1842; Open kitchen and living‑dining plan with oversized windows
