Staten Island Multifamily Investment
646-662 Port Richmond Avenue Staten Island, NY 10302
For Sale
Contact for pricing
43-unit apartment building in Port Richmond, Staten Island.
Property Size27,152 SF
Lot Size0.83 Acres
Price / SF$394.08
Days on Market800
Property Features for 646-662 Port Richmond Avenue
General Information
- Standard status
- Active
- Size
- 27,152 SF
- Lot size
- 0.83 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1974
Listing Agency:
NEUHAUS REALTY INC.
(718) 979-3400
Listed By:
Lena Hamad · License #0000
Source:
Crexi
Added: May 18, 2024
Changed: Jul 6
Last Checked: Jul 25 at 12:45PM
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 NEUHAUS REALTY INC.
Investment Insights
Based on property information with market context.
This 27,152 square foot, U-shaped, all-brick garden-style apartment building features 43 units and is not rent stabilized. The building is situated on a 200' x 180' lot and includes 39 private parking spaces. The property has a 6,000 square foot basement with a laundry area. The building contains one large first-floor office, 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments. The roof is three years old, and the heating system is six years old. Located in the Port Richmond neighborhood of Staten Island, New York City, the property offers convenient access to shopping and city buses to Brooklyn, Manhattan, and the Staten Island Mall.
Key Highlights
- 43‑unit all brick garden style apartment building.
- 39 private parking spaces on property.
- New (3 yr) roof and relatively new (6 yr) state‑of‑the‑art heating system.
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 | $1.14M | $42.00 |
| − Vacancy | −$45.6k | −$1.68 |
| EGI | $1.09M | $40.32 |
| − OpEx | −$492.6k | −$18.14 |
| NOI | $602.1k | $22.18 |
27,152 SF · lease $42.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.60M
$7.53M – $10.04M
NOI $602,123 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.96M
$11.34M – $15.11M
NOI $906,883 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 43-unit apartment building in Port Richmond, Staten Island.
Where is this apartment building located?
The property is located at 646-662 Port Richmond Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $10,700,000.
What are key features of this property?
This property features: 43‑unit all brick garden style apartment building.; 39 private parking spaces on property.; New (3 yr) roof and relatively new (6 yr) state‑of‑the‑art heating system.
