Furnished Residential Income
For Sale
$599,000
55 WALL Street 828, New York City, NY 10005
Furnished loft residence with an open plan, mahogany flooring, elevated ceilings, and a premium appliance package.
Property Size886 SF
Price / SF$676.07
Days on Market159
Property Features for 55 WALL Street 828
General Information
Standard status
Active
Size
886 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Multifamily Units
1
Amenities
24-hour concierge
housekeeping
valet
bi-level fitness center
rooftop terrace
Building Details
Building Size
886 SF
Year Built
1842
Construction
Beaux-Arts
Listing Agency:
Corcoran Group
(347) 446-4937
Listed By:
Santo Rosabianca · License #10401235346
(347) 446-4937
Source:
Howardhannanyc
Added: Mar 19
Changed: Aug 23
Last Checked: Aug 24 at 2:09PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Residence 828 is an 886-square-foot furnished loft within the 55 Wall Street Condominium. The home offers an open interior with wide-plank mahogany floors, soaring ceilings, designer furnishings, and a kitchen equipped with SubZero, Bosch, and Miele appliances. A marble bathroom with Cipriani Club finishes adds a distinctive element to the residence. The building dates to 1842 and combines Beaux-Arts architecture with updated residential interiors.
Building services include 24-hour concierge coverage, housekeeping, valet service, a bi-level fitness center, and a landscaped rooftop terrace. The property is at 55 Wall Street in New York City’s Financial District, with Battery Park and the waterfront nearby, along with dining, shopping, cultural landmarks, and transportation options.
Building services include 24-hour concierge coverage, housekeeping, valet service, a bi-level fitness center, and a landscaped rooftop terrace. The property is at 55 Wall Street in New York City’s Financial District, with Battery Park and the waterfront nearby, along with dining, shopping, cultural landmarks, and transportation options.
Key Highlights
- 886‑square‑foot furnished loft at 55 Wall Street Condominium
- Open layout with wide‑plank mahogany floors and soaring ceilings
- Kitchen fitted with SubZero, Bosch, and Miele appliances
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
$27,721
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
4.63%
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%
$554,420
$554.4K
Cap Rate 7%
$396,014
$396.0K
Cap Rate 9%
$308,011
$308.0K
Market Conditions
NOI Build-Up for 886 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
$53.1K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$50.4K $56.89/SF
− OpEx
−$22.7K −$25.60/SF
NOI
$27.7K $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%
$554,420
Cap Rate 7%
$396,014
Cap Rate 9%
$308,011
Alternative Uses
Best Use
Apartment 5plus
$396.0K
$346.5K – $462.0K
NOI $27,721 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.21M
$1.93M – $2.57M
NOI $154,377 @ 7.0% cap · market cap 25.77%
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 - Furnished loft residence with an open plan, mahogany flooring, elevated ceilings, and a premium appliance package.
Where is this residential income property located?
The property is located at 55 WALL Street 828 New York City, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 886‑square‑foot furnished loft at 55 Wall Street Condominium; Open layout with wide‑plank mahogany floors and soaring ceilings; Kitchen fitted with SubZero, Bosch, and Miele appliances
