Waterfront Colonial Homes Development
For Sale
Contact for pricing
5 11 17 Osprey Ct, Staten Island, NY 10308
Three custom homes under construction, ready Fall 2022.
Property Size4,800 SF
Price / SF$520.83
Days on Market1561
Property Features for 5 11 17 Osprey Ct
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Multifamily
Zoning
R-3A
Building Details
Year Built
2022
Listing Agency:
RJM Realty Empire
Listed By:
Melsa Skrapalliu · License #NY
Source:
Crexi
Added: Jul 21, 2022
Changed: Oct 25
Last Checked: Oct 26 at 3:48PM
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 RJM Realty Empire
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A private waterfront development is offering three custom colonial homes, slated for completion within the year. Each home, with a starting price of $2.5 million, is uniquely designed and built on pilings, featuring three stories with elevators providing access to the rooftops. The design aims to maximize waterfront exposure from every angle of the structure. Each floor plan offers approximately 4,800 square feet across all three levels, with 9-foot ceilings throughout. The properties, identified as Lots 210, 173, and 250, are part of an association with water access and the potential for dock permits. The layout includes a 2-car garage, a 17x35 open space, and front and back foyers on the first level, along with an elevator. The second level features a large living room, kitchen, dining room, a half bath, laundry room, mechanical room, elevator, and a large covered terrace. The third level offers three bedroom suites or an option for a fourth bedroom. The rooftop includes a playroom, a half bath, and balconies with water views.
Key Highlights
- New construction waterfront property ready for occupancy this year (Fall 2022).
- Custom colonial home with elevator access to a rooftop terrace offering breathtaking water views.
- Approximately 4,800 sqft of living space across three levels with 9 ft ceilings.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,445
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,128,900
$2.1M
Cap Rate 7%
$1,520,643
$1.5M
Cap Rate 9%
$1,182,722
$1.2M
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$201.6K $42.00/SF
− Vacancy
−$8.1K −$1.68/SF
EGI
$193.5K $40.32/SF
− OpEx
−$87.1K −$18.14/SF
NOI
$106.4K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,128,900
Cap Rate 7%
$1,520,643
Cap Rate 9%
$1,182,722
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,445 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,321 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 10308, NY
28,198
Population
11,093
Households
2.5
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
12,817
Density / Sq Mi
$122,654
Median Household Income
$67,149
Median Earnings
$1,729
Median Rent
$648,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three custom homes under construction, ready Fall 2022.
Where is this multifamily property located?
The property is located at 5 11 17 Osprey Ct Staten Island, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: New construction waterfront property ready for occupancy this year (Fall 2022).; Custom colonial home with elevator access to a rooftop terrace offering breathtaking water views.; Approximately 4,800 sqft of living space across three levels with 9 ft ceilings.
