15 Warren St 5 Unit Apartment Building $5,995,000 ($1,199,000/Unit) 3.95% Cap Rate New York, NY 10007
INVESTMENT HIGHLIGHTS
- Fully brought up to code including central AC, electric water/heat, wiring, roof, elevator, etc.
- 5,758 square feet unused air rights.
- Great ceiling heights including cellar and sub-cellar.
EXECUTIVE SUMMARY
25’ wide mixed-use building in the heart of Tribeca. It is an approximately 13,175 square foot (8,475 above grade and 4,700 below grade) building consisting of four floor-thru residential units and one ground floor retail space.
The building contains a recently re-done elevator, new roof, central AC, and has recently been brought fully to code. The ceiling heights in the cellar and sub-cellar are approximately 9’. All residential units are floor-through and have excellent ceiling heights. Three (3) of the four (4) residential units are IMD. The retail space is rented to a doctor’s office until April 2027.
The building contains a recently re-done elevator, new roof, central AC, and has recently been brought fully to code. The ceiling heights in the cellar and sub-cellar are approximately 9’. All residential units are floor-through and have excellent ceiling heights. Three (3) of the four (4) residential units are IMD. The retail space is rented to a doctor’s office until April 2027.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$385,100
|
$31.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$385,100
|
$31.62
|
| Taxes |
$127,888
|
$10.50
|
| Operating Expenses |
$21,000
|
$1.72
|
| Total Expenses |
$148,888
|
$12.22
|
| Net Operating Income |
$236,212
|
$19.39
|
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 1,650 |
1 of 1
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 0134-0021 | Total Assessment | $1,157,098 (2024) |
| Land Assessment | $130,050 (2024) | Annual Taxes | $127,888 ($10.50/SF) |
| Improvements Assessment | $1,070,930 (2024) | Tax Year | 2023 |
ZONING
| Zoning Code | C6-3A/TMU |
