Duplex Residential Income
For Sale
$5,000,000
435 E 52nd Street 2/3F, New York City, NY 10022
Expansive duplex residence with a separately accessed studio and East River outlooks within River House.
Property Size5,300 SF
Price / SF$943.40
Days on Market817
Property Features for 435 E 52nd Street 2/3F
General Information
Standard status
Active
Size
5,300 SF
Property subtype
Apartment
Units
Unit Mix
1 x duplex, 1 x studio
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
private elevator
wood-burning fireplaces
balconies
doormen
concierge
resident manager
private storage
Building Details
Building Size
5,300 SF
Year Built
1931
Buildings
1
Construction
art deco
Listing Agency:
Sothebys International Realty
(212) 606-7611
Listed By:
Serena Boardman
(212) 606-7611
Source:
Carytamura
Added: May 16, 2024
Changed: Aug 8
Last Checked: Aug 10 at 9:56AM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
Set within River House, this approximately 5,300-square-foot duplex residence combines formal entertaining areas with extensive private quarters. The layout includes a central gallery, living room, library, dining room, kitchen, butler’s pantry, breakfast room, staff room, additional bedroom, and multiple bathrooms. Two fireplaces, tall ceilings, river-facing balconies, and southern exposures add distinctive architectural and residential features. The primary suite includes a bedroom, sitting room, corner fireplace, balconies, generous closets, and two full bathrooms. Two additional bedrooms have ensuite baths.
A separate studio apartment has its own East 53rd Street entrance and connects to the duplex by private internal elevator. The self-contained space includes a bathroom, kitchenette, closets, and a step-down living area. River House is an Art Deco building designed by William L. Bottomley in 1931, with a gated entrance court, gardens, doormen, concierge, resident manager, and private storage. Shareholders may also be eligible to join The River Club, which offers tennis, squash, a swimming pool, golf simulator, dining, guest rooms, and social programs.
A separate studio apartment has its own East 53rd Street entrance and connects to the duplex by private internal elevator. The self-contained space includes a bathroom, kitchenette, closets, and a step-down living area. River House is an Art Deco building designed by William L. Bottomley in 1931, with a gated entrance court, gardens, doormen, concierge, resident manager, and private storage. Shareholders may also be eligible to join The River Club, which offers tennis, squash, a swimming pool, golf simulator, dining, guest rooms, and social programs.
Key Highlights
- Approximately 5,300 square feet arranged as a twelve‑room duplex
- Separate studio apartment with private East 53rd Street entrance
- Private internal elevator links the studio with the duplex
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
$165,823
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
3.32%
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%
$3,316,460
$3.3M
Cap Rate 7%
$2,368,900
$2.4M
Cap Rate 9%
$1,842,478
$1.8M
Market Conditions
NOI Build-Up for 5,300 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
$317.4K $59.88/SF
− Vacancy
−$15.9K −$2.99/SF
EGI
$301.5K $56.89/SF
− OpEx
−$135.7K −$25.60/SF
NOI
$165.8K $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%
$3,316,460
Cap Rate 7%
$2,368,900
Cap Rate 9%
$1,842,478
Alternative Uses
Best Use
Apartment 5plus
$2.37M
$2.07M – $2.76M
NOI $165,823 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.19M
$11.54M – $15.39M
NOI $923,472 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,245
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 - Expansive duplex residence with a separately accessed studio and East River outlooks within River House.
Where is this residential income property located?
The property is located at 435 E 52nd Street 2/3F New York City, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Approximately 5,300 square feet arranged as a twelve‑room duplex; Separate studio apartment with private East 53rd Street entrance; Private internal elevator links the studio with the duplex
