UPDATED:
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 820 sqft
Price per Sqft $1,402
Subdivision Tribeca
MLS Listing ID RLS20094453
Bedrooms 2
Full Baths 2
HOA Fees $989/mo
HOA Y/N Yes
Year Built 1988
Annual Tax Amount $12,168
Property Sub-Type Condo
Property Description
$79,200 Annual Gross Rent | Approx. $56,700 NOI | Approx. 4.9% Cap Rate | Low Carrying Costs
Welcome to 376 Broadway #3F, a spacious true 2-bedroom, 1.5-bathroom corner residence filled with natural light, offering an exceptional opportunity to own a high-income-generating investment property in Tribeca with an established tenant already in place.
The residence is currently leased at $6,600 per month through July 2027, generating $79,200 in annual gross rental income and providing immediate cash flow from day one.
The property benefits from low monthly carrying costs, with common charges of approximately $989 per month and real estate taxes of approximately $802 per month, supporting an estimated $56,700 annual NOI. At the current asking price of $1,150,000, the property offers an estimated 4.9% cap rate.
Tribeca is one of Manhattan's most prestigious and sought-after neighborhoods, renowned for its historic architecture, luxury residences, world-class dining, boutique shopping, acclaimed art galleries, and distinctive cobblestone streets. The property is conveniently located near Hudson River Park, SoHo, the Financial District, and many of Downtown Manhattan's most celebrated restaurants and cultural destinations.
Excellent transportation options provide convenient access to the 1, 2, 3, 6, A, C, E, J, M, Z, N, Q, R, and W subway lines.
Investment Highlights
True 2-bedroom, 1.5-bathroom layout
Corner residence with abundant natural light
Approximately 820 SF
Established tenant in place at $6,600/month
$79,200 annual gross rental income
Approximately $56,700 estimated NOI
Approximately 4.9% cap rate at asking
Low carrying costs
Common charges approximately $989/month
Real estate taxes approximately $802/month
Immediate rental income from day one
Full-service condominium
24-hour doorman
Elevator
Laundry
Prime Downtown Manhattan location
Tenant occupied
Sold in as-is condition
Location. Income. Value.
A compelling opportunity for an investor seeking strong rental income, immediate cash flow, low carrying costs, and ownership in one of Downtown TRIBECA Manhattan's most desirable neighborhoods.
Asking: $1,150,000
Location
Interior
Cooling Other
Fireplace No
Laundry Building Washer Dryer Install Allowed, Common Area
Exterior
Exterior Feature Building Storage, Building Courtyard
Private Pool No
Building
Dwelling Type High Rise
Story 25
New Construction No
Others
Tax ID 0172-1014
Ownership Condominium
Monthly Total Fees $2, 003
Special Listing Condition Standard
Pets Allowed Building No, No
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716