Hamilton Heights Multi-Family
For Sale
$2,200,000
596 W 152nd Street, Manhattan, NY 10031
Vacant multi-family townhouse in Upper Manhattan location.
Property Size3,328 SF
Lot Size0.03 Acres
Days on Market140
Property Features for 596 W 152nd Street
General Information
Standard status
Active
Size
3,328 SF
Lot size
0.03 Acres
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,264
Amenities
FitnessCenter
City
Building Details
Building Size
3,328 SF
Year Built
1900
Stories
3
Listing Agency:
(646) 382-7378
Listed By:
Ehud Eliasi
(646) 382-7378
Source:
Evrealestate
Added: Mar 25
Changed: Aug 8
Last Checked: Jul 15 at 10:06PM
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 Ehud Eliasi
Investment Insights
Based on property information with market context.
The property at 596 West 152nd Street is a multi-family townhouse in Hamilton Heights, Upper Manhattan. Delivered vacant, it offers immediate control and flexibility. The location provides access to public transportation, including the 1 train, and proximity to Columbia University’s Manhattanville campus, Columbia University Irving Medical Center, and The City College of New York. This location supports rental demand from students, faculty, medical professionals, and neighborhood residents. The delivered-vacant aspect allows a buyer to renovate, reposition, and lease the asset to market, optimizing unit mix, finishes, and rental strategy, subject to approvals and regulations. The property offers flexibility for creating a stabilized cash-flowing asset, a long-term hold in a growing neighborhood, or a value-add rental play. Hamilton Heights attracts attention for its architectural charm, neighborhood character, and relative value. The property’s proximity to major academic and medical institutions, neighborhood retail, and transit strengthens its appeal as an income-producing asset with tenant demand. The vacant building is an acquisition for investors looking to act quickly.
Key Highlights
- Delivered Vacant: Allows immediate renovation, repositioning, and market‑rate leasing for maximum rental income potential.
- Prime Location: Situated in Hamilton Heights, near the 1 train, providing easy access to transportation and Manhattan.
- Strong Rental Demand: Proximity to Columbia University's Manhattanville campus, Columbia University Irving Medical Center, and The City College of New York ensures consistent tenant interest.
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
$104,124
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
4.73%
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%
$2,082,480
$2.1M
Cap Rate 7%
$1,487,486
$1.5M
Cap Rate 9%
$1,156,933
$1.2M
Market Conditions
NOI Build-Up for 3,328 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
$199.3K $59.88/SF
− Vacancy
−$10.0K −$2.99/SF
EGI
$189.3K $56.89/SF
− OpEx
−$85.2K −$25.60/SF
NOI
$104.1K $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%
$2,082,480
Cap Rate 7%
$1,487,486
Cap Rate 9%
$1,156,933
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,124 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.28M
$7.25M – $9.66M
NOI $579,871 @ 7.0% cap · market cap 26.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,977
Businesses Nearby
Explore this area
Business Placement
Demographics for 10031, NY
56,363
Population
24,110
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
79%
High-School Grad
0.7 sq mi
ZIP Area
80,519
Density / Sq Mi
$65,067
Median Household Income
$41,149
Median Earnings
$1,787
Median Rent
$678,000
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?
Multifamily property - Vacant multi-family townhouse in Upper Manhattan location.
Where is this multifamily property located?
The property is located at 596 W 152nd Street Manhattan, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Delivered Vacant: Allows immediate renovation, repositioning, and market‑rate leasing for maximum rental income potential.; Prime Location: Situated in Hamilton Heights, near the 1 train, providing easy access to transportation and Manhattan.; Strong Rental Demand: Proximity to Columbia University's Manhattanville campus, Columbia University Irving Medical Center, and The City College of New York ensures consistent tenant interest.
