High-Rise Residential Income
For Sale
$1,100,000
630 1st Avenue 17N, New York City, NY 10016
Two-bedroom, two-bathroom condominium with doorman service, elevator access, and shared resident amenities.
Property Size1,000 SF
Price / SF$1,100
Days on Market109
Property Features for 630 1st Avenue 17N
General Information
Standard status
Active
Size
1,000 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$14,160
Amenities
doorman
gym and health club
roof deck
pool
sauna
bike storage
garage parking
on-site laundry
Building Details
Building Size
1,000 SF
Year Built
1984
Listing Agency:
Compass
(212) 627-7800
Listed By:
Bobby Rehani
(212) 627-7800
Source:
Carytamura
Added: Apr 24
Changed: Aug 9
Last Checked: Aug 10 at 9:47AM
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
Investment Insights
Based on property information with market context.
This residential income property is a 1,000-square-foot condominium with 2 bedrooms, 2 bathrooms, and 4.5 rooms within a high-rise building. The interior offers an airy layout with room for personalization and updates. Building services include a full-time doorman and elevator access, while resident amenities include a gym and health club, pool, sauna, common roof deck, bike storage, garage parking, and on-site laundry.
Built in 1984, the property is located at 630 1st Avenue 17N in New York City, NY 10016. Its Manhattan setting places the residence within a high-rise environment supported by extensive shared facilities and building services.
Built in 1984, the property is located at 630 1st Avenue 17N in New York City, NY 10016. Its Manhattan setting places the residence within a high-rise environment supported by extensive shared facilities and building services.
Key Highlights
- 1,000‑square‑foot condominium with 2 bedrooms, 2 bathrooms, and 4.5 rooms
- High‑rise building with full‑time doorman and elevator service
- Resident amenities include a gym, health club, pool, and sauna
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
$31,287
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
2.84%
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%
$625,740
$625.7K
Cap Rate 7%
$446,957
$447.0K
Cap Rate 9%
$347,633
$347.6K
Market Conditions
NOI Build-Up for 1,000 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
$59.9K $59.88/SF
− Vacancy
−$3.0K −$2.99/SF
EGI
$56.9K $56.89/SF
− OpEx
−$25.6K −$25.60/SF
NOI
$31.3K $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 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%
$625,740
Cap Rate 7%
$446,957
Cap Rate 9%
$347,633
Alternative Uses
Best Use
Apartment 5plus
$447.0K
$391.1K – $521.5K
NOI $31,287 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
42,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bathroom condominium with doorman service, elevator access, and shared resident amenities.
Where is this residential income property located?
The property is located at 630 1st Avenue 17N New York City, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 1,000‑square‑foot condominium with 2 bedrooms, 2 bathrooms, and 4.5 rooms; High‑rise building with full‑time doorman and elevator service; Resident amenities include a gym, health club, pool, and sauna
