Studio Residential Income
For Sale
$499,000
1399 PARK AVE, New York, NY 10029
Corner residence with custom finishes, elevated ceilings, in-home laundry, and expansive windows oriented to North and East.
Property Size523 SF
Price / SF$954.11
Days on Market350
Property Features for 1399 PARK AVE
General Information
Standard status
Active
Size
523 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Amenities
24-hour doorman
playroom
fitness center
residents lounge
outdoor space with grills
library with fireplace
cold and dry storage
bike room
on-site parking
Central Air
Dryer, Washer
Foyer Entry
3
Elevator, Foyer Entry
City
Building Details
Year Built
2017
Construction
glass and architectural-grade concrete tower
Listing Agency:
Lin Pan International Realty LLC
(212) 680-0188
Listed By:
Lin Pan
(917) 902-8853
Source:
Xome
Added: Sep 24, 2025
Changed: Sep 7
Last Checked: Sep 8 at 4:14AM
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 Lin Pan International Realty LLC
Investment Insights
Based on property information with market context.
This studio residence is positioned within the 23-story, 72-unit 1399 Park Avenue tower, completed in 2017. The corner layout receives North and East exposures through floor-to-ceiling sound-attenuated windows. Interior details include wide-plank Oak flooring, high ceilings, a substantial walk-in closet, and a kitchen appointed with Athens Silver Cream Marble, custom Oak cabinetry, and appliances from Thermador, Elica, and Bosch. The bathroom includes Honed Vanilla Marble, Eagle Grey Limestone, Watermark brass fixtures, and a Zuma deep soaking tub. A Bosch washer and dryer are also provided.
Building amenities include a 24-hour doorman, fitness center, residents lounge with 1,300 sq. ft. of outdoor space and built-in Wolf grills, library with fireplace, playroom, cold and dry storage, bike room, elevator, and on-site parking. The property is located at 1399 Park Avenue, New York, NY 10029, near Upper East Side establishments.
Building amenities include a 24-hour doorman, fitness center, residents lounge with 1,300 sq. ft. of outdoor space and built-in Wolf grills, library with fireplace, playroom, cold and dry storage, bike room, elevator, and on-site parking. The property is located at 1399 Park Avenue, New York, NY 10029, near Upper East Side establishments.
Key Highlights
- Studio corner residence with North and East exposures
- Floor‑to‑ceiling sound‑attenuated windows and high ceilings
- Kitchen with Athens Silver Cream Marble and custom Oak cabinetry
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
$19,945
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
4.00%
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%
$398,900
$398.9K
Cap Rate 7%
$284,929
$284.9K
Cap Rate 9%
$221,611
$221.6K
Market Conditions
NOI Build-Up for 523 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
$37.7K $72.00/SF
− Vacancy
−$1.4K −$2.66/SF
EGI
$36.3K $69.34/SF
− OpEx
−$16.3K −$31.20/SF
NOI
$19.9K $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%
$398,900
Cap Rate 7%
$284,929
Cap Rate 9%
$221,611
Alternative Uses
Best Use
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,945 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,619 @ 7.0% cap · market cap 26.18%
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
11,250
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 - Corner residence with custom finishes, elevated ceilings, in-home laundry, and expansive windows oriented to North and East.
Where is this residential income property located?
The property is located at 1399 PARK AVE New York, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Studio corner residence with North and East exposures; Floor‑to‑ceiling sound‑attenuated windows and high ceilings; Kitchen with Athens Silver Cream Marble and custom Oak cabinetry
