Two-Family Townhouse with
For Sale
$1,750,000
811 Riverside Drive New York, Manhattan, NY 10032
Legal duplex townhouse with historic details, flexible multilevel space, and substantial off-street parking.
Property Size3,452 SF
Days on Market23
Property Features for 811 Riverside Drive New York
General Information
Standard status
Active
Size
3,452 SF
Total Parking Spaces
3
Property subtype
Residential Income
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,920
Amenities
private balcony
Building Details
Building Size
3,452 SF
Year Built
1899
Buildings
1
Stories
4
Units
2
Listing Agency:
MYNY Residential
(718) 313-2733
Listed By:
Harun Henry
(718) 313-2733
Source:
Cohenandcohenrealty
Added: Jul 20
Changed: Aug 10
Last Checked: Aug 10 at 12:11PM
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 MYNY Residential
Investment Insights
Based on property information with market context.
Built in 1899, this legal two-family townhouse offers four levels of interior space, five bedrooms, original architectural details, and a private balcony. The residence presents as three stories from Riverside Drive while extending across four levels toward the rear. A three-car garage, with separate access for each bay, provides a substantial off-street parking component uncommon in Manhattan. The property is offered in as-is condition and requires renovation, allowing the next owner to rework a home with pre-war character and a flexible layout.
The address is on Riverside Drive in Manhattan, near Riverside Park, transportation, and neighborhood amenities. Its two-family configuration and combination of residential space, outdoor access, and garage capacity create a distinctive physical profile for the corridor.
The address is on Riverside Drive in Manhattan, near Riverside Park, transportation, and neighborhood amenities. Its two-family configuration and combination of residential space, outdoor access, and garage capacity create a distinctive physical profile for the corridor.
Key Highlights
- Legal two‑family townhouse with four levels of living space
- Five bedrooms with original architectural details
- Three‑car garage with separate entrances for each bay
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
$116,828
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
6.68%
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%
$2,336,560
$2.3M
Cap Rate 7%
$1,668,971
$1.7M
Cap Rate 9%
$1,298,089
$1.3M
Market Conditions
NOI Build-Up for 3,452 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
$176.1K $51.00/SF
− Vacancy
−$9.2K −$2.65/SF
EGI
$166.9K $48.35/SF
− OpEx
−$50.1K −$14.50/SF
NOI
$116.8K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,336,560
Cap Rate 7%
$1,668,971
Cap Rate 9%
$1,298,089
Alternative Uses
Best Use
Multifamily LT 5
$1.67M
$1.46M – $1.95M
NOI $116,828 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,004 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$8.59M
$7.52M – $10.02M
NOI $601,476 @ 7.0% cap · market cap 34.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8,722
Businesses Nearby
Explore this area
Business Placement
Demographics for 10032, NY
55,170
Population
23,178
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
76%
High-School Grad
0.7 sq mi
ZIP Area
78,814
Density / Sq Mi
$56,588
Median Household Income
$40,755
Median Earnings
$1,546
Median Rent
$545,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal duplex townhouse with historic details, flexible multilevel space, and substantial off-street parking.
Where is this duplex located?
The property is located at 811 Riverside Drive New York Manhattan, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Legal two‑family townhouse with four levels of living space; Five bedrooms with original architectural details; Three‑car garage with separate entrances for each bay
