Two-Bedroom Residential Income
For Sale
$1,949,000
1280 5th Avenue 10A, New York City, NY 10029
Two-bedroom, two-bath home with open kitchen, dining area, in-unit laundry, and full-service building amenities.
Property Size1,705 SF
Price / SF$1,143
Days on Market96
Property Features for 1280 5th Avenue 10A
General Information
Standard status
Active
Size
1,705 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$23,124
Amenities
24-hour doorman
concierge
gym
children's playroom
teen game room
residents' lounge
live-in superintendent
rooftop pool
in-unit washer/dryer
Building Details
Building Size
1,705 SF
Year Built
2012
Listing Agency:
Compass
(917) 543-0005
Listed By:
THOMAS POSTILIO
(917) 543-0005
Source:
Howardhannanyc
Added: May 7
Changed: Aug 10
Last Checked: Aug 10 at 9:46AM
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 Compass
Investment Insights
Based on property information with market context.
This 1,705-square-foot residential income property at One Museum Mile includes two bedrooms, a dining area, and two bathrooms. The living and dining spaces connect with an open kitchen, while the primary suite offers extensive closet storage and a windowed five-fixture bath with a Zuma soaking tub. A Bosch washer and dryer are included in the residence. West- and north-facing exposures provide Central Park and skyline views from every room.
Built in 2012, One Museum Mile is located at 1280 5th Avenue in New York City. Building services and amenities include a 24-hour doorman, concierge, gym, children's playroom, teen game room, residents' lounge, live-in superintendent, and rooftop pool. The building was designed by Robert A. M. Stern and extends along Fifth Avenue near Central Park.
Built in 2012, One Museum Mile is located at 1280 5th Avenue in New York City. Building services and amenities include a 24-hour doorman, concierge, gym, children's playroom, teen game room, residents' lounge, live-in superintendent, and rooftop pool. The building was designed by Robert A. M. Stern and extends along Fifth Avenue near Central Park.
Key Highlights
- Two‑bedroom, two‑bath residence with 1,705 square feet
- West- and north‑facing exposures with Central Park and skyline views
- Open kitchen integrated with living and dining areas
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
$65,020
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
3.34%
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%
$1,300,400
$1.3M
Cap Rate 7%
$928,857
$928.9K
Cap Rate 9%
$722,444
$722.4K
Market Conditions
NOI Build-Up for 1,705 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
$122.8K $72.00/SF
− Vacancy
−$4.5K −$2.66/SF
EGI
$118.2K $69.34/SF
− OpEx
−$53.2K −$31.20/SF
NOI
$65.0K $38.13/SF
Area
ZIP 10029
Vacancy
3.70%
Lease Rate
$72.00 /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%
$1,300,400
Cap Rate 7%
$928,857
Cap Rate 9%
$722,444
Alternative Uses
Best Use
Apartment 5plus
$928.9K
$812.8K – $1.08M
NOI $65,020 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.08M
$5.32M – $7.10M
NOI $425,824 @ 7.0% cap · market cap 21.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
10,309
Businesses Nearby
Explore this area
Business Placement
Demographics for 10029, NY
78,141
Population
36,955
Households
2.1
Avg Household Size
36
Median Age
36%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
65,118
Density / Sq Mi
$38,308
Median Household Income
$41,951
Median Earnings
$1,183
Median Rent
$818,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath home with open kitchen, dining area, in-unit laundry, and full-service building amenities.
Where is this residential income property located?
The property is located at 1280 5th Avenue 10A New York City, NY.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence with 1,705 square feet; West- and north‑facing exposures with Central Park and skyline views; Open kitchen integrated with living and dining areas
