Live-Work Condominium in Landmark
For Sale
Contact for pricing
55 Wall Street, New York, NY 10005
Three-bedroom, three-and-a-half-bath residence with in-unit washer/dryer and full-time doorman/24-hour concierge service.
Property Size2,051 SF
Price / SF$875.18
Days on Market126
Property Features for 55 Wall Street
General Information
Standard status
Active
Size
2,051 SF
Class
A
Property subtype
Office, Mixed Use
Zoning
C5-5
Investment Type
Owner/User
Amenities
doorman
concierge
fitness center
resident lounge
in-unit washer and dryer
Building Details
Year Built
1842
Year Renovated
2005
Listing Agency:
5 Boro Realty Corp
(917) 763-0331
Listed By:
Gabrielle Winters · License #10401353795
Source:
Crexi
Added: Apr 23
Changed: Aug 8
Last Checked: Aug 25 at 11:58AM
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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
Residence 530 at Cipriani Residences offers a flexible live-work layout within an iconic landmark building. The condominium features three bedrooms and three and a half bathrooms, with high ceilings and large living and dining areas suited to both personal and professional use. The chef’s kitchen includes custom cabinetry, premium appliances, generous counter space, and a statement island. Each bedroom has an en-suite bathroom, and there is also a powder room. For convenience, the unit includes an in-unit washer and dryer.
Located at 55 Wall Street in Downtown Manhattan’s Financial District, the residence is described as the last grandfathered-in commercial space, providing commercial flexibility alongside residential living. The building is presented as full-service, with a full-time doorman, 24-hour concierge, fitness center, and resident lounge. The offering also notes proximity to transportation and waterfront access.
This is presented for sale as a condominium within a restored landmark building, with the stated flexibility to be used as a primary residence, professional office, or a seamless live/work environment.
Located at 55 Wall Street in Downtown Manhattan’s Financial District, the residence is described as the last grandfathered-in commercial space, providing commercial flexibility alongside residential living. The building is presented as full-service, with a full-time doorman, 24-hour concierge, fitness center, and resident lounge. The offering also notes proximity to transportation and waterfront access.
This is presented for sale as a condominium within a restored landmark building, with the stated flexibility to be used as a primary residence, professional office, or a seamless live/work environment.
Key Highlights
- 3‑bedroom, 3.5‑bath condominium at Cipriani Residences, 55 Wall Street
- Includes in‑unit washer/dryer and a full‑time doorman plus 24‑hour concierge service
- Each bedroom has an en‑suite bathroom, plus an additional powder room
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
$65,376
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
3.64%
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%
$1,307,520
$1.3M
Cap Rate 7%
$933,943
$933.9K
Cap Rate 9%
$726,400
$726.4K
Market Conditions
NOI Build-Up for 2,051 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
$123.1K $60.00/SF
− Vacancy
−$18.5K −$9.00/SF
EGI
$104.6K $51.00/SF
− OpEx
−$39.2K −$19.13/SF
NOI
$65.4K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,307,520
Cap Rate 7%
$933,943
Cap Rate 9%
$726,400
Alternative Uses
Best Use
Mixed Use
$933.9K
$817.2K – $1.09M
NOI $65,376 @ 7.0% cap · market cap 3.64%
Second Best
Office B
$917.5K
$802.8K – $1.07M
NOI $64,222 @ 7.0% cap · market cap 3.58%
Theoretical Best
Specialty Retail
$5.11M
$4.47M – $5.96M
NOI $357,366 @ 7.0% cap · market cap 19.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Three-bedroom, three-and-a-half-bath residence with in-unit washer/dryer and full-time doorman/24-hour concierge service.
Where is this live-work space located?
The property is located at 55 Wall Street New York, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 3‑bedroom, 3.5‑bath condominium at Cipriani Residences, 55 Wall Street; Includes in‑unit washer/dryer and a full‑time doorman plus 24‑hour concierge service; Each bedroom has an en‑suite bathroom, plus an additional powder room
