Building Details

Building Size 750 SF

Year Built 1934

Listing Agency: d***@fsrec.com Show Phone

Listed By: Darryl Selsey · License #31SE0932906 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Aug 17 Last Checked: Aug 21 at 8:45AM

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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 Darryl Selsey

Investment Insights

Based on property information with market context.

This pre-war co-op is located near the Fleetwood Metro North Station, offering a commute of approximately 28 minutes to Grand Central Station. The unit features a new kitchen and architectural details such as high ceilings, crown molding, ribbon oak floors, and arches. The unit provides an abundance of closet space. The property is conveniently located near parkways, shopping, and restaurants.

Key Highlights

• Steps away from Fleetwood Metro North Station for an easy 28‑minute commute to Grand Central.
• Enjoy cooking in your brand new kitchen.
• Low monthly maintenance fees (does not reflect STAR reduction).

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

$12,864

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

7.61%

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%

$257,280 $257.3K

Cap Rate 7%

$183,771 $183.8K

Cap Rate 9%

$142,933 $142.9K

Market Conditions

NOI Build-Up for 750 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

$24.8K $33.00/SF

− Vacancy

−$1.4K −$1.82/SF

EGI

$23.4K $31.19/SF

− OpEx

−$10.5K −$14.03/SF

NOI

$12.9K $17.15/SF

Area

Westchester County, NY

Vacancy

5.50%

Lease Rate

$33.00 /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%

$257,280

Cap Rate 7%

$183,771

Cap Rate 9%

$142,933

Alternative Uses

Best Use

Apartment 5plus

$183.8K

$160.8K – $214.4K (±1% cap)

NOI $12,864 @ 7.0% cap · market cap 7.61%

Second Best

—

—

no second resolved use

Theoretical Best

Retail

$226.5K

$198.2K – $264.3K (±1% cap)

NOI $15,858 @ 7.0% cap · market cap 9.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Yancey Consulting Consultant Fleetwood View Apartment Building Janice Duarte Association Or Organization

Suggested Use

Top Pick Law Firm Parking Lot & Garage Building Supply Hotel & Motel Real Estate Agency Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,000

Businesses Nearby

Explore this area Business Placement

Demographics for 10552, NY

21,296

Population

10,143

Households

2.1

Avg Household Size

44

Median Age

52%

College-Educated

90%

High-School Grad

1.7 sq mi

ZIP Area

12,527

Density / Sq Mi

$97,105

Median Household Income

$60,329

Median Earnings

$1,770

Median Rent

$331,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Co-op near Fleetwood Metro North, 28 minutes to NYC.

Where is this apartment building located?

The property is located at 60 W Broad St 1L Fleetwood, NY.

What is the asking price?

The asking price for this property is $169,000.

What are key features of this property?

This property features: Steps away from Fleetwood Metro North Station for an easy 28‑minute commute to Grand Central.; Enjoy cooking in your brand new kitchen.; Low monthly maintenance fees (does not reflect STAR reduction).