Alcove Studio Residential Income
For Sale
$715,000
75 WALL ST, New York, NY 10005
Flexible studio layout with a separate sleeping or work area, open kitchen, in-unit laundry, and full-service condominium amenities.
Property Size668 SF
Price / SF$1,070
Days on Market744
Property Features for 75 WALL ST
General Information
Standard status
Active
Size
668 SF
Property subtype
Apartment
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$15,180
Amenities
24/7 doorman
gym
terrace
lounge
billiards room
children's room
hotel services
washer/dryer inside unit
central AC/heat
A/C - Other
3
Elevator
River
Building Details
Year Built
1987
Listing Agency:
(646) 559-2249
Listed By:
Barnes New York
(305) 613-8580
Source:
Xome
Added: Aug 27, 2024
Changed: Sep 2
Last Checked: Sep 8 at 4:49AM
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 Barnes New York
Investment Insights
Based on property information with market context.
This 668-square-foot alcove studio occupies the 24th floor and receives south-western exposure through large windows. The layout can accommodate either a dedicated sleeping area or a home office separate from the main living space. An open kitchen includes a center island, stone countertops, and stainless steel appliances. The bathroom offers both a soaking tub and a separate shower, while the unit also has an in-unit washer and dryer and central AC/heat.
Built in 1987, 75 Wall Street is a full-service condominium in the Financial District. Building services and amenities include a 24/7 doorman, gym, terrace, lounge, billiards room, children's room, and hotel services. Furnished images have been virtually staged to illustrate room scale.
Built in 1987, 75 Wall Street is a full-service condominium in the Financial District. Building services and amenities include a 24/7 doorman, gym, terrace, lounge, billiards room, children's room, and hotel services. Furnished images have been virtually staged to illustrate room scale.
Key Highlights
- 668 SF alcove studio on the 24th floor
- South‑western exposure and large windows
- Open kitchen with center island, stone counters, and stainless steel appliances
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
$20,900
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
2.92%
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%
$418,000
$418.0K
Cap Rate 7%
$298,571
$298.6K
Cap Rate 9%
$232,222
$232.2K
Market Conditions
NOI Build-Up for 668 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
$40.0K $59.88/SF
− Vacancy
−$2.0K −$2.99/SF
EGI
$38.0K $56.89/SF
− OpEx
−$17.1K −$25.60/SF
NOI
$20.9K $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%
$418,000
Cap Rate 7%
$298,571
Cap Rate 9%
$232,222
Alternative Uses
Best Use
Apartment 5plus
$298.6K
$261.3K – $348.3K
NOI $20,900 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.94M
NOI $116,392 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
27,774
Businesses Nearby
Explore this area
Business Placement
Demographics for 10005, NY
10,639
Population
6,495
Households
1.6
Avg Household Size
31
Median Age
84%
College-Educated
97%
High-School Grad
0.1 sq mi
ZIP Area
106,390
Density / Sq Mi
$211,810
Median Household Income
$133,727
Median Earnings
$3,501
Median Rent
$1,387,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Flexible studio layout with a separate sleeping or work area, open kitchen, in-unit laundry, and full-service condominium amenities.
Where is this residential income property located?
The property is located at 75 WALL ST New York, NY.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 668 SF alcove studio on the 24th floor; South‑western exposure and large windows; Open kitchen with center island, stone counters, and stainless steel appliances
