One-Bedroom Residential Income
New
For Sale
$625,000
118 E 60TH Street 19F, New York City, NY 10022
Renovated cooperative residence with an open kitchen, custom storage, hardwood floors, and full-service building amenities.
Property Size640 SF
Price / SF$976.56
Days on Market6
Property Features for 118 E 60TH Street 19F
General Information
Standard status
Active
Size
640 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman
concierge
live-in building manager
covered circular driveway
laundry
storage
bike rooms
valet parking garage
landscaped garden
roofdeck
Building Details
Building Size
640 SF
Year Built
1964
Listing Agency:
Douglas Elliman Real Estate
(917) 721-7853
Listed By:
Lydia H Sussek · License #40SU1173761
(917) 721-7853
Source:
Carlinwright
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 11:45AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Residence 19F at Plaza Tower is a 640-square-foot, south-facing one-bedroom cooperative apartment completed in 1964. The home includes a 15-by-22-foot living room with a full wall of windows, hardwood floors, custom millwork, generous closets, and two HVAC units. Its open kitchen features quartz countertops, stainless steel appliances, custom storage, and a breakfast bar. The bathroom is fully tiled and includes a built-in makeup area and additional storage.
Plaza Tower provides 24-hour doorman and concierge coverage, a live-in building manager, and a covered circular driveway. Building amenities include laundry, storage and bike rooms subject to availability, an adjacent valet parking garage, a landscaped garden with fountain, and a roof deck with Central Park views. The property is located at 118 E 60TH Street in New York City, half a block from Bloomingdales and major transit, with Central Park 2 1/2 blocks away. Pied-à-terres are permitted.
Plaza Tower provides 24-hour doorman and concierge coverage, a live-in building manager, and a covered circular driveway. Building amenities include laundry, storage and bike rooms subject to availability, an adjacent valet parking garage, a landscaped garden with fountain, and a roof deck with Central Park views. The property is located at 118 E 60TH Street in New York City, half a block from Bloomingdales and major transit, with Central Park 2 1/2 blocks away. Pied-à-terres are permitted.
Key Highlights
- 640 SF south‑facing one‑bedroom cooperative apartment
- 15' x 22' living room with full‑wall windows
- Open kitchen with quartz counters, stainless steel appliances, storage, and breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,024
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$400,480
$400.5K
Cap Rate 7%
$286,057
$286.1K
Cap Rate 9%
$222,489
$222.5K
Market Conditions
NOI Build-Up for 640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.3K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$36.4K $56.89/SF
− OpEx
−$16.4K −$25.60/SF
NOI
$20.0K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$400,480
Cap Rate 7%
$286,057
Cap Rate 9%
$222,489
Alternative Uses
Best Use
Apartment 5plus
$286.1K
$250.3K – $333.7K
NOI $20,024 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,514 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
42,557
Businesses Nearby
Explore this area
Business Placement
Demographics for 10022, NY
36,708
Population
25,686
Households
1.4
Avg Household Size
45
Median Age
84%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
91,770
Density / Sq Mi
$171,038
Median Household Income
$119,657
Median Earnings
$2,928
Median Rent
$1,116,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated cooperative residence with an open kitchen, custom storage, hardwood floors, and full-service building amenities.
Where is this residential income property located?
The property is located at 118 E 60TH Street 19F New York City, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 640 SF south‑facing one‑bedroom cooperative apartment; 15' x 22' living room with full‑wall windows; Open kitchen with quartz counters, stainless steel appliances, storage, and breakfast bar
