Four-Bedroom Residential Income
1399 PARK Avenue PH23, New York City, NY 10029
For Sale
$2,495,000
Corner condominium residence with private parking, skyline views, and full-service building amenities.
Property Size2,846 SF
Price / SF$876.67
Days on Market259
Property Features for 1399 PARK Avenue PH23
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Yair Tavivian · License NY #10301212650
(212) 319-4109
Source:
Decodenyc
Added: Feb 24
Changed: Oct 27
Last Checked: Nov 9 at 8:02AM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
Residence 18B is a 2,209-square-foot corner condominium completed in 2019, configured with four bedrooms, an expansive living and dining area, and a separate bedroom wing. The home includes floor-to-ceiling windows, wide-plank oak flooring, central air conditioning, sound-attenuated windows, and an in-unit Bosch washer and dryer. Its kitchen features marble countertops, custom oak cabinetry, and Thermador and Bosch appliances. The primary suite offers a walk-in closet and spa-inspired bath, while one additional bedroom includes an ensuite bath.
Private parking accompanies the residence. Building amenities at North Park Tower include a 24-hour doorman, fitness center, residents’ lounge with outdoor terrace, children’s playroom, library, bike room, and on-site parking. The property is near Central Park, Museum Mile, neighborhood restaurants, top schools, and transportation.
Private parking accompanies the residence. Building amenities at North Park Tower include a 24-hour doorman, fitness center, residents’ lounge with outdoor terrace, children’s playroom, library, bike room, and on-site parking. The property is near Central Park, Museum Mile, neighborhood restaurants, top schools, and transportation.
Key Highlights
- 2,209‑square‑foot corner condominium residence
- Four‑bedroom layout with separate bedroom wing
- Private parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,532
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,170,640
$2.2M
Cap Rate 7%
$1,550,457
$1.6M
Cap Rate 9%
$1,205,911
$1.2M
Market Conditions
NOI Build-Up for 2,846 SF
Gross rent
$204.9K $72.00/SF
− Vacancy
−$7.6K −$2.66/SF
EGI
$197.3K $69.34/SF
− OpEx
−$88.8K −$31.20/SF
NOI
$108.5K $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 Rate 5%
$2,170,640
Cap Rate 7%
$1,550,457
Cap Rate 9%
$1,205,911
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,532 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,279 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
11,250
Businesses Nearby
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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
$818,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Corner condominium residence with private parking, skyline views, and full-service building amenities.
Where is this residential income property located?
The property is located at 1399 PARK Avenue PH23 New York City, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 2,209‑square‑foot corner condominium residence; Four‑bedroom layout with separate bedroom wing; Private parking included
