Two-Family Townhouse with
For Sale
$2,695,000
825 Riverside Drive, New York City, NY 10032
Separate garden-level studio includes its own entrance and direct access to the rear yard.
Property Size4,482 SF
Price / SF$601.29
Days on Market207
Property Features for 825 Riverside Drive
General Information
Standard status
Active
Size
4,482 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,012
Building Details
Building Size
4,482 SF
Buildings
1
Listing Agency:
Corcoran Group
(862) 823-2674
Listed By:
Daniel Cohen · License #10401261296
(862) 823-2674
Source:
Miradorrealestate
Added: Jan 15
Changed: Aug 8
Last Checked: Aug 9 at 11:40AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This approximately 4,482-square-foot two-family townhouse combines a substantial owner’s residence with a separate garden-level studio. The primary home spans multiple levels and features exposed brick, chevron hardwood floors, three decorative fireplaces, a skylit stairwell, and a foyer that creates separation from the main living areas. Its kitchen includes natural stone counters, a full-height backsplash, center island, gas range, paneled French-door refrigerator, and vented hood. The garden unit has a private entrance, high ceilings, abundant natural light, and access to the rear yard.
The property occupies an over-20-foot-wide footprint at 825 Riverside Drive in Washington Heights. The 1 train is moments away, with local destinations including Semicolon Café, Five Flies Coffee, Chez Messy, and Hilltop Park Ale House. Nearby parks and cultural institutions add to the surrounding residential setting.
The property occupies an over-20-foot-wide footprint at 825 Riverside Drive in Washington Heights. The 1 train is moments away, with local destinations including Semicolon Café, Five Flies Coffee, Chez Messy, and Hilltop Park Ale House. Nearby parks and cultural institutions add to the surrounding residential setting.
Key Highlights
- Approximately 4,482‑square‑foot two‑family townhouse
- Over‑20‑foot‑wide footprint at 825 Riverside Drive
- Separate garden‑level studio with private entrance
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
$151,687
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
5.63%
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%
$3,033,740
$3.0M
Cap Rate 7%
$2,166,957
$2.2M
Cap Rate 9%
$1,685,411
$1.7M
Market Conditions
NOI Build-Up for 4,482 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
$228.6K $51.00/SF
− Vacancy
−$11.9K −$2.65/SF
EGI
$216.7K $48.35/SF
− OpEx
−$65.0K −$14.50/SF
NOI
$151.7K $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%
$3,033,740
Cap Rate 7%
$2,166,957
Cap Rate 9%
$1,685,411
Alternative Uses
Best Use
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,687 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$2.00M
$1.75M – $2.34M
NOI $140,230 @ 7.0% cap · market cap 5.20%
Theoretical Best
Specialty Retail
$11.16M
$9.76M – $13.02M
NOI $780,944 @ 7.0% cap · market cap 28.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
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 - Separate garden-level studio includes its own entrance and direct access to the rear yard.
Where is this duplex located?
The property is located at 825 Riverside Drive New York City, NY.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Approximately 4,482‑square‑foot two‑family townhouse; Over‑20‑foot‑wide footprint at 825 Riverside Drive; Separate garden‑level studio with private entrance
