South-Facing One-Bedroom Income
For Sale
$650,000
90 GOLD Street 18N, New York City, NY 10038
High-floor home offers water outlooks, practical storage, and access to resident services.
Property Size725 SF
Price / SF$896.55
Days on Market68
Property Features for 90 GOLD Street 18N
General Information
Standard status
Active
Size
725 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
doorman
security
Building Details
Building Size
725 SF
Year Built
1971
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 317-3656
Listed By:
Gage Rand
(212) 317-3656
Source:
Nilelundgren
Added: Jun 5
Changed: Aug 11
Last Checked: Aug 11 at 5:51AM
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 Residential Sales LLC
Investment Insights
Based on property information with market context.
This 725-square-foot, one-bedroom residence occupies a high floor at Southbridge Towers. South-facing windows bring natural light into the living area and bedroom, while open water views extend from both spaces. The layout includes a combined living and dining area, a generously sized kitchen, and closet storage throughout. The kitchen is ready for modernization, allowing the next owner to shape the space to suit their needs.
Built in 1971, the property is located at 90 Gold Street near the Fulton Street and Seaport areas of the Financial District. Ownership includes maintenance covering electricity and heat. Southbridge Towers provides part-time doorman service, 24-hour security, and indoor parking for residents at reduced rates. The Brooklyn Bridge, South Street Seaport, Fulton Street Transit Hub, and Oculus are nearby, with access to the 2/3, 4/5/6, A/C, J/Z, and R subway lines. Co-purchasing, pieds-à-terre, pets, and subletting are permitted.
Built in 1971, the property is located at 90 Gold Street near the Fulton Street and Seaport areas of the Financial District. Ownership includes maintenance covering electricity and heat. Southbridge Towers provides part-time doorman service, 24-hour security, and indoor parking for residents at reduced rates. The Brooklyn Bridge, South Street Seaport, Fulton Street Transit Hub, and Oculus are nearby, with access to the 2/3, 4/5/6, A/C, J/Z, and R subway lines. Co-purchasing, pieds-à-terre, pets, and subletting are permitted.
Key Highlights
- 725 SF one‑bedroom residence with south‑facing water views
- High‑floor position at Southbridge Towers with natural light in the living area and bedroom
- Maintenance includes electricity and heat
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
$22,683
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
3.49%
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%
$453,660
$453.7K
Cap Rate 7%
$324,043
$324.0K
Cap Rate 9%
$252,033
$252.0K
Market Conditions
NOI Build-Up for 725 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
$43.4K $59.88/SF
− Vacancy
−$2.2K −$2.99/SF
EGI
$41.2K $56.89/SF
− OpEx
−$18.6K −$25.60/SF
NOI
$22.7K $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%
$453,660
Cap Rate 7%
$324,043
Cap Rate 9%
$252,033
Alternative Uses
Best Use
Apartment 5plus
$324.0K
$283.5K – $378.1K
NOI $22,683 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.80M
$1.58M – $2.11M
NOI $126,324 @ 7.0% cap · market cap 19.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
37,693
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - High-floor home offers water outlooks, practical storage, and access to resident services.
Where is this residential income property located?
The property is located at 90 GOLD Street 18N New York City, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 725 SF one‑bedroom residence with south‑facing water views; High‑floor position at Southbridge Towers with natural light in the living area and bedroom; Maintenance includes electricity and heat
