43-Unit Brick Apartment
646-662 Port Richmond Ave Staten Island, NY 10302
For Sale
$10,800,000
Garden-style apartment building with parking in Port Richmond.
Property Size27,152 SF
Lot Size0.83 Acres
Price / SF$397.76
Days on Market118
Property Features for 646-662 Port Richmond Ave
General Information
- Standard status
- Active
- Size
- 27,152 SF
- Lot size
- 0.83 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1974
Listing Agency:
Neuhaus Realty Inc.
(347) 423-5926
Listed By:
Giovanna Cardinale · License #40CA1050108
(347) 423-5926
Source:
Elliman
Added: Mar 31
Changed: Jul 10
Last Checked: Jul 25 at 9:43AM
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 Neuhaus Realty Inc.
Investment Insights
Based on property information with market context.
This 27,152 square foot, all-brick, U-shaped garden-style apartment building contains 43 units. The building is not rent stabilized. The unit mix includes 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments, as well as a large first-floor office. The property features a 5-year-old roof and an 8-year-old heating system. A large 6,000 square foot basement includes a laundry area. The property lot measures 200 by 180 feet and includes 39 private parking spaces. Located in the Port Richmond neighborhood of Staten Island, New York, the property offers convenient access to shopping and city buses to Brooklyn, Manhattan, and the Staten Island Mall.
Key Highlights
- 43‑unit all brick garden style apartment building
- 39 private parking spaces on property
- Relatively new roof and state‑of‑the‑art heating system
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.14M | $42.00 |
| − Vacancy | −$45.6k | −$1.68 |
| EGI | $1.09M | $40.32 |
| − OpEx | −$492.6k | −$18.14 |
| NOI | $602.1k | $22.18 |
27,152 SF · lease $42.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.60M
$7.53M – $10.04M
NOI $602,123 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.96M
$11.34M – $15.11M
NOI $906,883 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Garden-style apartment building with parking in Port Richmond.
Where is this apartment building located?
The property is located at 646-662 Port Richmond Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: 43‑unit all brick garden style apartment building; 39 private parking spaces on property; Relatively new roof and state‑of‑the‑art heating system
