561 BROADWAY #4A
About This Property
Ernest Flagg, a Beaux-Arts trained New York architect designed the "Little Singer Building" in 1902. Its construction began in the spring of 1903, five years before he would create the Singer Tower that for a short time was the world's tallest building. The tower came down in 1967, but fortunately the Singer Loft Building at 561 Broadway survived. Since 1979, it has been a co-op with a mixture of residential and commercial uses: 20 offices and 15 live/work units for artists. The airy look of the Little Singer derives from its very wide windows together with the lacy strip balconies across each level. These balconies have delicate wrought iron railing, sophisticated in design and varying from floor to floor. Over the years beginning in 1983, the aging one time factory was restored by the co-op. This included repainting the decorative ironwork the same deep green color that Flagg had used in 1903.
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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%.
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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.
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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 |
---|---|---|---|
Jun 20, 2024 | Sold | ||
Sold | |||
Jan 19, 2024 | In contract | - | |
In contract | |||
Nov 14, 2023 | Price Decreased |
$2,750,000
↓ $150K
(5.2%) | |
Price Decreased | |||
Sep 1, 2023 | Listed by Corcoran Group | $2,900,000 | |
Listed by Corcoran Group | |||
Sep 25, 2013 | Sold to Carlos Zapata | ||
Sold to Carlos Zapata |
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
09/01/2023
|
2 Bed
|
2 Bath
|
2400 ft²
|
$2,900,000
2 Bed
2 Bath
2400 ft²
|
$2,565,000
-11.55%
06/20/2024
|
-
|
Michael Soheil
Corcoran Group
| |
10/17/2022
|
4 Bed
|
3 Bath
|
4500 ft²
|
$9,995,000
4 Bed
3 Bath
4500 ft²
|
$9,995,000
05/16/2023
|
-
|
Philip Scheinfeld
Compass
| |
05/12/2022
|
2 Bed
|
2 Bath
|
971 ft²
|
$675,000
2 Bed
2 Bath
971 ft²
|
$715,000
+5.93%
06/27/2022
|
-
|
Elisee Labrecque
RE/MAX Destiny
| |
02/11/2022
|
2 Bed
|
2 Bath
|
2300 ft²
|
$2,995,000
2 Bed
2 Bath
2300 ft²
|
$3,100,000
+3.51%
06/06/2022
|
-
|
Laurence Carty
Corcoran Group
| |
09/15/2021
|
Studio
|
1 Bath
|
1800 ft²
|
$1,750,000
Studio
1 Bath
1800 ft²
|
$1,625,000
-7.14%
04/11/2022
|
-
|
James Weiss
Compass
| |
04/06/2021
|
2 Bed
|
2 Bath
|
2500 ft²
|
$2,300,000
2 Bed
2 Bath
2500 ft²
|
$2,650,000
+15.22%
06/28/2022
|
-
|
EunAh Kim
Blu Realty Group
| |
09/05/2018
|
1 Bed
|
1 Bath
|
639 ft²
|
$424,900
1 Bed
1 Bath
639 ft²
|
$453,800
+6.80%
10/22/2018
|
-
|
Karen Morgan
Coldwell Banker Realty - Cambridge
| |
09/04/2018
|
2 Bed
|
2 Bath
|
947 ft²
|
$579,000
2 Bed
2 Bath
947 ft²
|
$550,000
-5.01%
11/27/2018
|
-
|
Carol Costello
Century 21 Seaport
| |
03/03/2016
|
2 Bed
|
2 Bath
|
971 ft²
|
$460,000
2 Bed
2 Bath
971 ft²
|
$511,000
+11.09%
04/25/2016
|
-
|
Elisee Labrecque
RE/MAX Destiny
| |
09/03/2015
|
1 Bed
|
1.5 Bath
|
2300 ft²
|
$3,498,000
1 Bed
1.5 Bath
2300 ft²
|
$3,300,000
-5.66%
02/11/2016
|
-
|
Lee Moudiyne-Schweninger
Corcoran Group
| |
02/19/2015
|
2 Bed
|
1 Bath
|
1750 ft²
|
$2,250,000
2 Bed
1 Bath
1750 ft²
|
-
-
|
-
|
JON CAPOBIANCO
Douglas Elliman Real Estate
| |
10/15/2014
|
2 Bed
|
2 Bath
|
2300 ft²
|
$5,390,000
2 Bed
2 Bath
2300 ft²
|
-
-
|
-
|
Lee Moudiyne-Schweninger
Corcoran Group
| |
12/11/2013
|
2 Bed
|
2 Bath
|
2200 ft²
|
$3,695,000
2 Bed
2 Bath
2200 ft²
|
$3,475,000
-5.95%
05/23/2014
|
-
|
Lee Moudiyne-Schweninger
Corcoran Group
| |
06/19/2013
|
1 Bed
|
1 Bath
|
2100 ft²
|
$2,398,000
1 Bed
1 Bath
2100 ft²
|
$2,398,000
09/25/2013
|
-
|
Lee Moudiyne-Schweninger
Corcoran Group
| |
06/07/2012
|
1 Bed
|
1 Bath
|
639 ft²
|
$255,000
1 Bed
1 Bath
639 ft²
|
$255,000
07/23/2012
|
-
|
Elizabeth Robbins
RE/MAX Realty Experts
| |
07/07/2010
|
2 Bed
|
2 Bath
|
933 ft²
|
$319,900
2 Bed
2 Bath
933 ft²
|
$320,000
+0.03%
10/15/2010
|
-
|
Courtney Snyder
RE/MAX Destiny
| |
08/21/2007
|
2 Bed
|
2 Bath
|
961 ft²
|
$339,900
2 Bed
2 Bath
961 ft²
|
$325,000
-4.38%
11/30/2007
|
-
|
Melanie Collard
Compass
| |
07/26/2007
|
1 Bed
|
1 Bath
|
653 ft²
|
$279,000
1 Bed
1 Bath
653 ft²
|
$265,000
-5.02%
08/31/2007
|
-
|
Paul Mydelski
RE/MAX Leading Edge
| |
10/17/2002
|
2 Bed
|
2 Bath
|
965 ft²
|
$319,900
2 Bed
2 Bath
965 ft²
|
$295,000
-7.78%
03/31/2003
|
-
|
Paula Dowd
Dowd Properties
| |
03/26/1996
| |
Loft
|
5 Bath
|
30360 ft²
|
$1,395,000
Loft
5 Bath
30360 ft²
|
$1,300,000
-6.81%
08/29/1996
|
-
|
Rosemary Scalera
Century 21 McLennan and Company
|
Building Info
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