Four-Unit Residential
New
For Sale
$4,950,000
60 W 87th St, New York, NY 10024
Two apartments are scheduled for vacancy at closing, while the other units provide an existing residential configuration.
Property Size5,465 SF
Lot Size0.04 Acres
Price / SF$905.76
Days on Market1
Property Features for 60 W 87th St
General Information
Standard status
Active
Size
5,465 SF
Lot size
0.04 Acres
Property subtype
Multifamily
Zoning
R7-2
Site & Location
Neighborhood
Central Park
Additional Details
Asking Price
$4,950,000
Multifamily Units
4
Amenities
4 Apartments - 100% Free-Market
2 Units Delivered Vacant
Upgraded Building Systems
Prime Location between Central Park West and Columbus Avenue
Building Details
Building Size
5,465 SF
Buildings
1
Stories
4
Units
4
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
John Stewart · License #License(s): NY: 10311203263, NY: 10301205822
(212) 430-5152
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Oct 30 at 3:52PM
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 Marcus & Millichap - Manhattan
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Investment Insights
Based on property information with market context.
This four-story residential property contains approximately 5,465 square feet across four apartments: a ground-level duplex and three floor-through residences. Two apartments are to be delivered vacant. The building measures 18 feet by 68 feet and occupies an approximately 18' x 100.67' lot. The property also includes 1,776 square feet of unused development rights and is zoned R7-2.
Situated on West 87th Street between Central Park West and Columbus Avenue, the building is within the Upper West Side/Central Park West Historic District. Central Park, the American Museum of Natural History, Lincoln Center, Riverside Park, and neighborhood dining and retail corridors are nearby. Transit options serve Manhattan and the outer boroughs.
Situated on West 87th Street between Central Park West and Columbus Avenue, the building is within the Upper West Side/Central Park West Historic District. Central Park, the American Museum of Natural History, Lincoln Center, Riverside Park, and neighborhood dining and retail corridors are nearby. Transit options serve Manhattan and the outer boroughs.
Key Highlights
- Four apartments arranged as a ground‑floor duplex and three floor‑through units
- Two apartments to be delivered vacant
- Approximately 5,465 square feet in a four‑story building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,955
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,699,100
$3.7M
Cap Rate 7%
$2,642,214
$2.6M
Cap Rate 9%
$2,055,056
$2.1M
Market Conditions
NOI Build-Up for 5,465 SF
Gross rent
$278.7K $51.00/SF
− Vacancy
−$14.5K −$2.65/SF
EGI
$264.2K $48.35/SF
− OpEx
−$79.3K −$14.50/SF
NOI
$185.0K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,699,100
Cap Rate 7%
$2,642,214
Cap Rate 9%
$2,055,056
Alternative Uses
Best Use
Multifamily LT 5
$2.64M
$2.31M – $3.08M
NOI $184,955 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$2.44M
$2.14M – $2.85M
NOI $170,985 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$13.60M
$11.90M – $15.87M
NOI $952,222 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
10,836
Businesses Nearby
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Business Placement
Demographics for 10024, NY
62,250
Population
36,723
Households
1.7
Avg Household Size
43
Median Age
84%
College-Educated
97%
High-School Grad
0.9 sq mi
ZIP Area
69,167
Density / Sq Mi
$182,614
Median Household Income
$117,078
Median Earnings
$2,965
Median Rent
$1,746,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Two apartments are scheduled for vacancy at closing, while the other units provide an existing residential configuration.
Where is this quadplex located?
The property is located at 60 W 87th St New York, NY.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Four apartments arranged as a ground‑floor duplex and three floor‑through units; Two apartments to be delivered vacant; Approximately 5,465 square feet in a four‑story building
