Renovated Residential Income
For Sale
$799,000
1400 5TH Avenue 2D, New York City, NY 10026
Updated condo apartment with marble finishes, stainless steel appliances, doorman service, and convenient transit access.
Property Size978 SF
Price / SF$816.97
Days on Market85
Property Features for 1400 5TH Avenue 2D
General Information
Standard status
Active
Size
978 SF
Property subtype
Apartment
Building Details
Building Size
978 SF
Year Built
2003
Listing Agency:
Douglas Elliman Real Estate
(917) 553-4846
Listed By:
Robert A Glessman · License #10301211152
(917) 553-4846
Source:
Carlinwright
Added: Jun 1
Changed: Aug 23
Last Checked: Aug 23 at 7:34AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This residential income property is a renovated condo apartment in a 2003 building. Interior improvements include marble flooring in the foyer, kitchen, and hallway, Brazilian cherry wood flooring in the living room and bedrooms, recessed lighting, and new stainless steel appliances. The residence faces east toward 5th Avenue and includes access to an inviting lobby with two elevators.
Building services include a 24-hour doorman, live-in superintendent, BuildingLink services, dry cleaning with valet service, and a laundry room on every floor. The property is near multiple subway lines, including 6, 2, 3, B, and C, with access to M1, M7, M102, M116, and M60 bus routes. Metro-North service is also within a short walk.
Building services include a 24-hour doorman, live-in superintendent, BuildingLink services, dry cleaning with valet service, and a laundry room on every floor. The property is near multiple subway lines, including 6, 2, 3, B, and C, with access to M1, M7, M102, M116, and M60 bus routes. Metro-North service is also within a short walk.
Key Highlights
- Renovated condo apartment in a 2003 residential building
- Marble flooring in foyer, kitchen, and hallway
- Brazilian cherry wood flooring in living room and bedrooms
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
$30,599
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
3.83%
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%
$611,980
$612.0K
Cap Rate 7%
$437,129
$437.1K
Cap Rate 9%
$339,989
$340.0K
Market Conditions
NOI Build-Up for 978 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
$58.6K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$55.6K $56.89/SF
− OpEx
−$25.0K −$25.60/SF
NOI
$30.6K $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%
$611,980
Cap Rate 7%
$437,129
Cap Rate 9%
$339,989
Alternative Uses
Best Use
Apartment 5plus
$437.1K
$382.5K – $510.0K
NOI $30,599 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.43M
$2.13M – $2.84M
NOI $170,407 @ 7.0% cap · market cap 21.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo apartment with marble finishes, stainless steel appliances, doorman service, and convenient transit access.
Where is this residential income property located?
The property is located at 1400 5TH Avenue 2D New York City, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Renovated condo apartment in a 2003 residential building; Marble flooring in foyer, kitchen, and hallway; Brazilian cherry wood flooring in living room and bedrooms
