8-Unit Apartment
For Sale
$2,000,000
621 W 138th Street, New York City, NY 10031
Eight residences occupy a prewar brick building in Manhattan’s Hamilton Heights neighborhood.
Property Size2,535 SF
Price / SF$788.95
Days on Market146
Property Features for 621 W 138th Street
General Information
Standard status
Active
Size
2,535 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
8
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,305
Building Details
Building Size
2,535 SF
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
Compass
Listed By:
Mitchell H Simmons
(917) 531-5193
Source:
Dallien
Added: Jun 4
Changed: Oct 26
Last Checked: Oct 26 at 3:55PM
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 Compass
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Investment Insights
Based on property information with market context.
This apartment property contains eight residential units in a brick building constructed in 1920. The reported building area is 2,535 square feet; conflicting descriptions of the building’s story count are omitted.
The property is at 621 W 138th Street in New York City. The 1 subway line serves the 137th Street–City College station, and nearby destinations listed include City College of New York, Columbia University’s Manhattanville Campus, NewYork-Presbyterian Hospital, Riverside Park, and Riverbank State Park.
The property is at 621 W 138th Street in New York City. The 1 subway line serves the 137th Street–City College station, and nearby destinations listed include City College of New York, Columbia University’s Manhattanville Campus, NewYork-Presbyterian Hospital, Riverside Park, and Riverbank State Park.
Key Highlights
- Eight residential units
- 2,535 square feet of reported building area
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,313
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,586,260
$1.6M
Cap Rate 7%
$1,133,043
$1.1M
Cap Rate 9%
$881,256
$881.3K
Market Conditions
NOI Build-Up for 2,535 SF
Gross rent
$151.8K $59.88/SF
− Vacancy
−$7.6K −$2.99/SF
EGI
$144.2K $56.89/SF
− OpEx
−$64.9K −$25.60/SF
NOI
$79.3K $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 Rate 5%
$1,586,260
Cap Rate 7%
$1,133,043
Cap Rate 9%
$881,256
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$991.4K – $1.32M
NOI $79,313 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.31M
$5.52M – $7.36M
NOI $441,698 @ 7.0% cap · market cap 22.08%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
4,496
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight residences occupy a prewar brick building in Manhattan’s Hamilton Heights neighborhood.
Where is this apartment building located?
The property is located at 621 W 138th Street New York City, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Eight residential units; 2,535 square feet of reported building area; Built in 1920
