Two-Bedroom Residential Income
For Sale
$870,000
1400 5TH Avenue 8E, New York City, NY 10026
Condominium residence with an open kitchen, private garden access, and full-service building amenities.
Property Size1,010 SF
Price / SF$861.39
Days on Market77
Property Features for 1400 5TH Avenue 8E
General Information
Standard status
Active
Size
1,010 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
pet-friendly
24-hour doorman
concierge
laundry room
private garden
central air conditioning
Building Details
Building Size
1,010 SF
Year Built
2003
Listing Agency:
Corcoran Group
(917) 847-6968
Listed By:
Zach Allen · License #10401309024 (NY)
(917) 847-6968
Source:
Nobleblackandpartners
Added: May 26
Changed: Aug 10
Last Checked: Aug 10 at 9:19AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Residence 8E is a 1,010-square-foot condominium home with two bedrooms and two full bathrooms. The interior centers on an open kitchen with a center island, dishwasher, wine fridge, ample storage, and direct connection to the living and dining areas. The primary bedroom includes built-in closets and an en-suite bathroom, while the second bedroom is served by a separate full bathroom. Central air conditioning is also provided.
The 2003-built condominium offers 24-hour doorman service, concierge support, elevator access, a same-floor laundry room, and a private garden. The building is pet friendly. The property is located at 1400 5TH Avenue 8E in New York City, one block from the 2 and 3 trains and approximately three blocks from the 6 train. Central Park, restaurants, grocery stores, and everyday services are nearby.
The 2003-built condominium offers 24-hour doorman service, concierge support, elevator access, a same-floor laundry room, and a private garden. The building is pet friendly. The property is located at 1400 5TH Avenue 8E in New York City, one block from the 2 and 3 trains and approximately three blocks from the 6 train. Central Park, restaurants, grocery stores, and everyday services are nearby.
Key Highlights
- 1,010‑square‑foot residence with two bedrooms and two full bathrooms
- Open kitchen with center island, dishwasher, wine fridge, and substantial storage
- Primary bedroom offers built‑in closets and an en‑suite bathroom
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
$31,600
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
3.63%
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%
$632,000
$632.0K
Cap Rate 7%
$451,429
$451.4K
Cap Rate 9%
$351,111
$351.1K
Market Conditions
NOI Build-Up for 1,010 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
$60.5K $59.88/SF
− Vacancy
−$3.0K −$2.99/SF
EGI
$57.5K $56.89/SF
− OpEx
−$25.9K −$25.60/SF
NOI
$31.6K $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%
$632,000
Cap Rate 7%
$451,429
Cap Rate 9%
$351,111
Alternative Uses
Best Use
Apartment 5plus
$451.4K
$395.0K – $526.7K
NOI $31,600 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,982 @ 7.0% cap · market cap 20.23%
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
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 - Condominium residence with an open kitchen, private garden access, and full-service building amenities.
Where is this residential income property located?
The property is located at 1400 5TH Avenue 8E New York City, NY.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: 1,010‑square‑foot residence with two bedrooms and two full bathrooms; Open kitchen with center island, dishwasher, wine fridge, and substantial storage; Primary bedroom offers built‑in closets and an en‑suite bathroom
