Residential Income Property with Park
For Sale
$1,729,000
1280 5TH Avenue 20C, New York City, NY 10029
Two-bedroom apartment with extensive amenities, Central HVAC, and a tenant in place through May 14, 2026.
Property Size1,490 SF
Price / SF$1,160
Days on Market144
Property Features for 1280 5TH Avenue 20C
General Information
Standard status
Active
Size
1,490 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
full gym
children's playroom
teen lounge
meeting room
dining/conference room
landscaped roof
pool
outdoor showers
barbecue availability
central HVAC
washer/dryer
garbage disposal
Building Details
Building Size
1,490 SF
Year Built
2010
Tenancy
Single
Listing Agency:
Coldwell Banker Warburg
(917) 359-2642
Listed By:
Patricia Gilman
(917) 359-2642
Source:
Miradorrealestate
Added: Mar 20
Changed: Aug 5
Last Checked: Aug 10 at 9:34AM
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 Coldwell Banker Warburg
Investment Insights
Based on property information with market context.
This 1,490-square-foot apartment occupies the 20th floor of One Museum Mile, completed in 2010. The split-bedroom layout includes two bedrooms, 2.5 bathrooms, a central living and dining area, wide-plank flooring, and abundant closet space. The open kitchen is equipped with granite counters and Miele, Thermador, and Bosch appliances. Additional features include a primary suite with a walk-in closet and en-suite bathroom, a second bedroom with its own bathroom, a powder room, and an in-unit washer and dryer. Central HVAC and pet permission are also provided.
Residents have access to a full gym, children’s playroom, teen lounge, meeting room, dining and conference room, and a landscaped roof with a pool, outdoor showers, and barbecue availability. The apartment has Central Park views and is near the Conservancy Garden, Davis Center at Harlem Meer, and Gottesman Rink. Nearby subway service includes the 2/3, 6, and B/C trains. A tenant is in place through May 14, 2026.
Residents have access to a full gym, children’s playroom, teen lounge, meeting room, dining and conference room, and a landscaped roof with a pool, outdoor showers, and barbecue availability. The apartment has Central Park views and is near the Conservancy Garden, Davis Center at Harlem Meer, and Gottesman Rink. Nearby subway service includes the 2/3, 6, and B/C trains. A tenant is in place through May 14, 2026.
Key Highlights
- 1,490‑square‑foot apartment on the 20th floor
- Two bedrooms and 2.5 bathrooms in a split‑bedroom layout
- Central Park views from the living area and primary suite
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
$56,821
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
3.29%
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%
$1,136,420
$1.1M
Cap Rate 7%
$811,729
$811.7K
Cap Rate 9%
$631,344
$631.3K
Market Conditions
NOI Build-Up for 1,490 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
$107.3K $72.00/SF
− Vacancy
−$4.0K −$2.66/SF
EGI
$103.3K $69.34/SF
− OpEx
−$46.5K −$31.20/SF
NOI
$56.8K $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%
$1,136,420
Cap Rate 7%
$811,729
Cap Rate 9%
$631,344
Alternative Uses
Best Use
Apartment 5plus
$811.7K
$710.3K – $947.0K
NOI $56,821 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.32M
$4.65M – $6.20M
NOI $372,128 @ 7.0% cap · market cap 21.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
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 apartment with extensive amenities, Central HVAC, and a tenant in place through May 14, 2026.
Where is this residential income property located?
The property is located at 1280 5TH Avenue 20C New York City, NY.
What is the asking price?
The asking price for this property is $1,729,000.
What are key features of this property?
This property features: 1,490‑square‑foot apartment on the 20th floor; Two bedrooms and 2.5 bathrooms in a split‑bedroom layout; Central Park views from the living area and primary suite
