Updated Residential Income
88 Greenwich Street 412, New York City, NY 10006
For Sale
$528,000
Loftlike studio with a renovated kitchen, high ceilings, generous closets, and extensive resident amenities.
Property Size518 SF
Price / SF$1,019
Days on Market175
Property Features for 88 Greenwich Street 412
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
gym
library
billiards
media room
doorman
valet
lounge
business center
cold storage
laundry
Wi-Fi
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Terry B Lautin
(917) 816-1121
Source:
Broadwayrealty
Added: May 19
Changed: Oct 31
Last Checked: Nov 8 at 3:24PM
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
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Investment Insights
Based on property information with market context.
This 518 SF studio residence in a 1929 condominium building has a flexible loftlike layout, two large windows facing Rector Street, 10' ceilings, generous closet storage, and a separate renovated kitchen with a pass-through opening. The living area can accommodate distinct sleeping and sitting zones, while the unit includes a flat-screen TV setup for both areas.
Residents have access to a fitness center, library, billiards room, media room, business center, floor-by-floor laundry, cold storage, and 24-hour doorman and valet services. The 24th-floor Harbor Room includes a full kitchen and views toward the Hudson River, New York Harbor, and the Downtown skyline. The property is two blocks from subway express and PATH trains and near Hudson River Park, Seaport attractions, Oculus Mall, Fulton Center, Eataly, Printemps, and Whole Foods.
Residents have access to a fitness center, library, billiards room, media room, business center, floor-by-floor laundry, cold storage, and 24-hour doorman and valet services. The 24th-floor Harbor Room includes a full kitchen and views toward the Hudson River, New York Harbor, and the Downtown skyline. The property is two blocks from subway express and PATH trains and near Hudson River Park, Seaport attractions, Oculus Mall, Fulton Center, Eataly, Printemps, and Whole Foods.
Key Highlights
- 518 SF studio residence in a 1929 condominium building
- 10' ceilings, two large Rector Street‑facing windows, and generous closet storage
- Separate renovated kitchen with pass‑through opening
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,207
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,140
$324.1K
Cap Rate 7%
$231,529
$231.5K
Cap Rate 9%
$180,078
$180.1K
Market Conditions
NOI Build-Up for 518 SF
Gross rent
$31.0K $59.88/SF
− Vacancy
−$1.6K −$2.99/SF
EGI
$29.5K $56.89/SF
− OpEx
−$13.3K −$25.60/SF
NOI
$16.2K $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 Rate 5%
$324,140
Cap Rate 7%
$231,529
Cap Rate 9%
$180,078
Alternative Uses
Best Use
Apartment 5plus
$231.5K
$202.6K – $270.1K
NOI $16,207 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.1K
$316.9K – $422.5K
NOI $25,350 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
30,992
Businesses Nearby
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Business Placement
Demographics for 10006, NY
4,282
Population
2,605
Households
1.6
Avg Household Size
31
Median Age
85%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
42,820
Density / Sq Mi
$209,972
Median Household Income
$113,612
Median Earnings
$3,501
Median Rent
$1,125,700
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in New York City, NY
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Frequently Asked Questions
What type of property is this?
Residential income property - Loftlike studio with a renovated kitchen, high ceilings, generous closets, and extensive resident amenities.
Where is this residential income property located?
The property is located at 88 Greenwich Street 412 New York City, NY.
What is the asking price?
The asking price for this property is $528,000.
What are key features of this property?
This property features: 518 SF studio residence in a 1929 condominium building; 10' ceilings, two large Rector Street‑facing windows, and generous closet storage; Separate renovated kitchen with pass‑through opening
