New 16-Unit Apartment
500 Commerce St, Hawthorne, NY 10532
New 16-unit apartment complex in Mount Pleasant, NY.
Type:Multifamily
Property size:
37,230 SFPrice / SF:
$308/SF- Added:
- Oct 31, 2024
- Days on Market:
- 581
- Last Refresh:
- May 12 at 9:33 pm
Property Features for 500 Commerce St
General Information
- Standard status
- Active
- Size
- 37,230 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing agent Lou Budetti License #NY 35BU0402478
Listing office ERA Insite Realty
Listing date Oct 31, 2024
Source Crexi
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 ERA Insite Realty
HighLights
- Brand new 16‑unit complex in the heart of Mount Pleasant.
- 12 two‑bedroom and 4 one‑bedroom spacious rentals.
- Ample indoor garage parking for tenants and additional guest parking.
- High‑end finishes: LVT floors, quartz countertops, subway tile bathrooms with porcelain floors, and LED mirrors.
- All LG stainless steel appliances and central AC and heating systems.
- On‑site fitness room and dedicated green area.
Overview
Liberty Plaza is a new 16-unit apartment complex located in Mount Pleasant. The property features 12 two-bedroom units and 4 one-bedroom units. The units include LVT floors, central AC and heating systems, LG stainless steel appliances, quartz countertops, LED mirrors, subway tile bathrooms, and porcelain floors. The property provides indoor garage parking for tenants, additional guest parking, and a dedicated green area. Residents have access to an on-site fitness room and an intercom system. Each unit has a separate mechanical room. The property is located within walking distance of Metro North and the village. Construction is expected to be completed before the end of the year. The property size is 37230 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.23M | $33.00 |
| − Vacancy | −$67.6k | −$1.82 |
| EGI | $1.16M | $31.19 |
| − OpEx | −$522.5k | −$14.03 |
| NOI | $638.6k | $17.15 |
37,230 SF · lease $33.00/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$9.12M
$7.98M – $10.64M
NOI $638,560 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$11.25M
$9.84M – $13.12M
NOI $787,209 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
ATM
Atm
Location Insight
- Map
- Local Demand
- City
- Hawthorne
- County
- Westchester
- State
- New York
- Longitude
- -73.792255
- Latitude
- 41.113043
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - New 16-unit apartment complex in Mount Pleasant, NY.
Where is this apartment building located?
The property is located at 500 Commerce St Hawthorne, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Brand new 16‑unit complex in the heart of Mount Pleasant.; 12 two‑bedroom and 4 one‑bedroom spacious rentals.; Ample indoor garage parking for tenants and additional guest parking.
