Residential Income Property with Rooftop
For Sale
$1,650,000
1280 5th Avenue 12C, New York City, NY 10029
Corner residence with park, skyline, and East River views, plus full-service building amenities and private storage.
Property Size1,344 SF
Price / SF$1,227
Days on Market17
Property Features for 1280 5th Avenue 12C
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$18,233
Amenities
heated rooftop pool
gym
resident's lounge with a fireplace
game room
formal dining room
central AC
in-unit washer/dryer
private storage
full-time doorman
concierge
on-site garage
Building Details
Building Size
1,344 SF
Year Built
2012
Listing Agency:
Compass
Listed By:
Elana Schoppmann
(917) 306-9121
Source:
Miradorrealestate
Added: Sep 8
Changed: Sep 18
Last Checked: Sep 22 at 8:57PM
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.
Residence 12C at 1280 5th Avenue offers 1,344 square feet of interior space in a 2012-built building. The corner layout includes a foyer, living area with high ceilings and wide-plank hardwood floors, a windowed kitchen with Zebrano cabinetry, stone countertops, breakfast bar, and Bosch and Thermador appliances. The primary suite has a custom walk-in closet and a bath finished with Jerusalem limestone and Bianco Dolomiti marble. Central AC, an in-unit washer/dryer, and private storage are included.
Oversized windows face Central Park, the skyline, and the East River. Building services and amenities include a full-time doorman, concierge, on-site garage, heated rooftop pool, gym, resident lounge with fireplace, game room, and formal dining room.
Oversized windows face Central Park, the skyline, and the East River. Building services and amenities include a full-time doorman, concierge, on-site garage, heated rooftop pool, gym, resident lounge with fireplace, game room, and formal dining room.
Key Highlights
- 1,344‑square‑foot corner residence in a 2012‑built building
- Oversized windows with views of Central Park, the skyline, and the East River
- Windowed kitchen with Zebrano cabinetry, stone countertops, Bosch, and Thermador appliances
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
$51,253
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
3.11%
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%
$1,025,060
$1.0M
Cap Rate 7%
$732,186
$732.2K
Cap Rate 9%
$569,478
$569.5K
Market Conditions
NOI Build-Up for 1,344 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
$96.8K $72.00/SF
− Vacancy
−$3.6K −$2.66/SF
EGI
$93.2K $69.34/SF
− OpEx
−$41.9K −$31.20/SF
NOI
$51.3K $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%
$1,025,060
Cap Rate 7%
$732,186
Cap Rate 9%
$569,478
Alternative Uses
Best Use
Apartment 5plus
$732.2K
$640.7K – $854.2K
NOI $51,253 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.80M
$4.20M – $5.59M
NOI $335,664 @ 7.0% cap · market cap 20.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with park, skyline, and East River views, plus full-service building amenities and private storage.
Where is this residential income property located?
The property is located at 1280 5th Avenue 12C New York City, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 1,344‑square‑foot corner residence in a 2012‑built building; Oversized windows with views of Central Park, the skyline, and the East River; Windowed kitchen with Zebrano cabinetry, stone countertops, Bosch, and Thermador appliances
