Studio Residential Income
For Sale
$499,000
1399 Park Avenue 6-G, New York City, NY 10029
Corner living area features floor-to-ceiling sound-attenuating windows with northern and eastern exposures.
Property Size523 SF
Price / SF$954.11
Days on Market519
Property Features for 1399 Park Avenue 6-G
General Information
Standard status
Active
Size
523 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,672
Amenities
washer/dryer
24-hour doorman
playroom
fitness center
residents lounge
outdoor space with built-in grills
library with fireplace
cold and dry storage
bike room
Building Details
Building Size
523 SF
Year Built
2017
Listing Agency:
Lin Pan International Realty LLC
(917) 902-8853
Listed By:
Lin Pan
(917) 902-8853
Source:
Miradorrealestate
Added: Mar 25, 2025
Changed: Aug 22
Last Checked: Aug 24 at 2:37PM
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 combines a corner living area with floor-to-ceiling sound-attenuating windows oriented north and east. Interior finishes include wide-plank oak flooring, high ceilings, a walk-in closet, and an in-home Bosch washer and dryer. The kitchen is appointed with Athens Silver Cream countertops, custom oak cabinetry, a Thermador range, an Elica hood, and Bosch refrigeration and dishwashing appliances. The bathroom includes limestone surfaces, Watermark brass fixtures, and a deep soaking tub.
Completed in 2017, the 23-story building contains 72 units and presents a contemporary lobby with a double-height ceiling and Honey Onyx feature wall. Resident amenities include a 24-hour doorman, fitness center, lounge with 1,300 sq. ft. of outdoor space and Wolf grills, library with fireplace, playroom, cold and dry storage, bike room, and on-site parking. The property is located at 1399 Park Avenue in New York City’s Upper East Side.
Completed in 2017, the 23-story building contains 72 units and presents a contemporary lobby with a double-height ceiling and Honey Onyx feature wall. Resident amenities include a 24-hour doorman, fitness center, lounge with 1,300 sq. ft. of outdoor space and Wolf grills, library with fireplace, playroom, cold and dry storage, bike room, and on-site parking. The property is located at 1399 Park Avenue in New York City’s Upper East Side.
Key Highlights
- Studio residence with north- and east‑facing corner exposures
- Floor‑to‑ceiling sound‑attenuating windows
- Custom kitchen with Thermador, Elica, and Bosch 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
$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 living area features floor-to-ceiling sound-attenuating windows with northern and eastern exposures.
Where is this residential income property located?
The property is located at 1399 Park Avenue 6-G New York City, 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 residence with north- and east‑facing corner exposures; Floor‑to‑ceiling sound‑attenuating windows; Custom kitchen with Thermador, Elica, and Bosch appliances
