Residential Income Property with
88 GREENWICH Street 724W, New York City, NY 10006
For Sale
$575,000
Flexible junior one-bedroom residence with full-service building amenities and access to downtown transportation, waterfront, and business destinations.
Property Size606 SF
Price / SF$948.84
Days on Market61
Property Features for 88 GREENWICH Street 724W
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Brown Harris Stevens Brooklyn LLC
Listed By:
Emma Chao
(917) 547-1318
Source:
Miradorrealestate
Added: Sep 10
Changed: Nov 8
Last Checked: Nov 8 at 2:28PM
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 Brown Harris Stevens Brooklyn LLC
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Investment Insights
Based on property information with market context.
This 606-square-foot junior one-bedroom residence offers a flexible layout with separate living, sleeping, dining, and work-from-home areas. The entry hall leads into a spacious living room with hardwood floors and oversized west-facing windows. An open kitchen includes a Sub-Zero refrigerator, Viking stovetop, Fisher & Paykel dishwasher, breakfast bar, and ample cabinetry. Central air, generous closets, and a dedicated storage unit add practical utility.
The Greenwich Club Condominium provides full-time doorman service, a fitness center, yoga studio, outdoor lounge, residents lounge, library, billiards room, bicycle room, cold storage, and laundry facilities and WiFi on every floor. The property is in the Financial District, within blocks of the Hudson River Greenway and waterfront, World Trade Center, Wall Street, Brookfield Place, Whole Foods, and subway lines serving the 1, 2, 3, 4, 5, J, Z, R, and W routes.
The Greenwich Club Condominium provides full-time doorman service, a fitness center, yoga studio, outdoor lounge, residents lounge, library, billiards room, bicycle room, cold storage, and laundry facilities and WiFi on every floor. The property is in the Financial District, within blocks of the Hudson River Greenway and waterfront, World Trade Center, Wall Street, Brookfield Place, Whole Foods, and subway lines serving the 1, 2, 3, 4, 5, J, Z, R, and W routes.
Key Highlights
- 606‑square‑foot junior one‑bedroom layout with distinct living, sleeping, dining, and work areas
- Dedicated storage unit included within the building
- Open kitchen with Sub‑Zero refrigerator, Viking stovetop, and Fisher & Paykel dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,960
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,200
$379.2K
Cap Rate 7%
$270,857
$270.9K
Cap Rate 9%
$210,667
$210.7K
Market Conditions
NOI Build-Up for 606 SF
Gross rent
$36.3K $59.88/SF
− Vacancy
−$1.8K −$2.99/SF
EGI
$34.5K $56.89/SF
− OpEx
−$15.5K −$25.60/SF
NOI
$19.0K $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%
$379,200
Cap Rate 7%
$270,857
Cap Rate 9%
$210,667
Alternative Uses
Best Use
Apartment 5plus
$270.9K
$237.0K – $316.0K
NOI $18,960 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$423.7K
$370.7K – $494.3K
NOI $29,657 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
30,992
Businesses Nearby
Explore this area
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
$1,125,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Flexible junior one-bedroom residence with full-service building amenities and access to downtown transportation, waterfront, and business destinations.
Where is this residential income property located?
The property is located at 88 GREENWICH Street 724W New York City, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 606‑square‑foot junior one‑bedroom layout with distinct living, sleeping, dining, and work areas; Dedicated storage unit included within the building; Open kitchen with Sub‑Zero refrigerator, Viking stovetop, and Fisher & Paykel dishwasher
