231 W 16th Street #2WRER
About This Property
Just one flight up, you are greeted with an elegant entry gallery perfect for hanging art flows into a stunning open-concept living room, dining room, and kitchen. The living and dining areas possess backlit tray ceilings, while the windowed kitchen is equipped with an eat-in peninsula, sleek countertops, custom cabinets, and a suite of high-end appliances from Wolf, LG and Fisher & Paykel. The large second bedroom that is currently being used as a home office sits just off the living area.
The remaining two bedrooms enjoy a wonderful sense of privacy thanks to a split-wing layout. The primary bedroom boasts a huge walk-in closet and en-suite bathroom, the additional bedroom is fitted with a murphy bed, can be used for guests or home office and easy access to a second full bathroom.
231 West 16th Street is a charming prewar co-op located in Chelsea. The building has a voice intercom system, a live-in super, and it is close to the High Line, Meatpacking District, and Flatiron. It is steps from dozens of restaurants, cafes, bars, and shops. Nearby subway lines include the 1/2/3/A/C/E/L. Pets and pieds-a-terre are welcome.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
You can learn more about cap rate here .
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Feb 27, 2021 | No longer available | - | |
No longer available | |||
Feb 24, 2021 | Sold to Gerhard Summerer, Loretta S... | $1,225,000 | |
Sold to Gerhard Summerer, Loretta S... | |||
Dec 12, 2020 | In contract | - | |
In contract | |||
Dec 9, 2020 | Price Decreased |
$1,350,000
↓ $150K
(10%)
|
|
Price Decreased | |||
Sep 30, 2020 | Listed by Corcoran Group | $1,500,000 | |
Listed by Corcoran Group |
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
10/07/2020
|
1 Bed
|
1 Bath
|
1200 ft²
|
$1,450,000
1 Bed
1 Bath
1200 ft²
|
$1,450,000
08/12/2021
|
-
|
Anthony Barillo
Prudential Douglas Elliman Real Estate
|
|
09/30/2020
|
3 Bed
|
2 Bath
|
1200 ft²
|
$1,500,000
3 Bed
2 Bath
1200 ft²
|
$1,225,000
-18.33%
02/24/2021
|
-
|
Steven Markowicz
CORE Group Marketing, LLC
|
|
09/02/2020
|
2 Bed
|
1 Bath
|
930 ft²
|
$1,395,000
2 Bed
1 Bath
930 ft²
|
$1,395,000
05/08/2021
|
-
|
Barbara Helms
The Corcoran Group
|
|
04/08/2019
|
2 Bed
|
2 Bath
|
-
|
$1,395,000
2 Bed
2 Bath
|
$1,380,000
-1.08%
03/18/2020
|
-
|
Courtney Hopper
Cooper & Cooper Real Estate LLC
|
|
03/04/2019
|
1 Bed
|
1 Bath
|
700 ft²
|
$699,000
1 Bed
1 Bath
700 ft²
|
$550,000
-21.32%
07/29/2019
|
-
|
Brunt Van
Bank Neary Inc
|
|
07/12/2016
|
2 Bed
|
1 Bath
|
1000 ft²
|
$1,149,950
2 Bed
1 Bath
1000 ft²
|
$1,080,000
-6.08%
02/05/2021
|
-
|
Steven S Van Brunt
DG Neary Realty Ltd.
|
|
11/02/2015
|
1 Bed
|
1 Bath
|
1200 ft²
|
$1,499,000
1 Bed
1 Bath
1200 ft²
|
-
-
|
-
|
Julie Rupprecht
Corcoran Group
|
|
06/11/2015
|
1 Bed
|
2 Bath
|
950 ft²
|
$760,000
1 Bed
2 Bath
950 ft²
|
$760,000
12/03/2015
|
-
|
Kerry McAleer
Corcoran Group
|
|
10/21/2014
|
2 Bed
|
1 Bath
|
930 ft²
|
$1,240,000
2 Bed
1 Bath
930 ft²
|
$1,240,000
03/16/2015
|
-
|
Evan Church
Corcoran
|
|
01/28/2014
|
1 Bed
|
1 Bath
|
-
|
$450,000
1 Bed
1 Bath
|
$503,000
+11.78%
04/25/2014
|
-
|
Gregory McHale
Compass
|
|
02/10/2012
|
2 Bed
|
2 Bath
|
1200 ft²
|
$1,395,000
2 Bed
2 Bath
1200 ft²
|
$1,395,000
08/29/2012
|
-
|
Erik Ternon
Prudential Douglas Elliman Real Estate
|