High-Floor Residential Income
For Sale
$499,000
1485 5th Avenue 12G, New York City, NY 10035
Studio residence with a full kitchen, in-unit laundry, renovated bath, and extensive building amenities.
Property Size573 SF
Days on Market159
Property Features for 1485 5th Avenue 12G
General Information
Standard status
Active
Size
573 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$72
Amenities
doorman
live-in superintendent
indoor heated lap pool
sundeck
landscaped roof terrace with grill
fitness center
playroom
resident lounge with kitchen
package room
on-site parking
washer/dryer in unit
full-size kitchen
renovated bathroom
built-in Murphy bed
Building Details
Building Size
573 SF
Year Built
2007
Listing Agency:
Compass
(917) 319-2990
Listed By:
Josue Galdos
(917) 319-2990
Source:
Serhant
Added: Mar 20
Changed: Aug 23
Last Checked: Aug 24 at 1:15PM
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 Compass
Investment Insights
Based on property information with market context.
This 12th-floor studio at 1485 5th Avenue includes an open living area, a separate full-size kitchen with room for dining, two large closets, a built-in Murphy bed, and a renovated bathroom. An in-unit washer and dryer add everyday convenience, while west-facing exposure brings abundant natural light and open views. The building was constructed in 2007.
Residents have access to full-time doorman service, a live-in superintendent, an indoor heated lap pool with sundeck, fitness center, playroom, resident lounge with kitchen, landscaped roof terrace with grill, package room, and on-site parking. The property is near Whole Foods, Trader Joe’s, Target, restaurants, and cafés, with access to the 2/3/A/B/C/D/4/5/6 trains and Metro-North.
Residents have access to full-time doorman service, a live-in superintendent, an indoor heated lap pool with sundeck, fitness center, playroom, resident lounge with kitchen, landscaped roof terrace with grill, package room, and on-site parking. The property is near Whole Foods, Trader Joe’s, Target, restaurants, and cafés, with access to the 2/3/A/B/C/D/4/5/6 trains and Metro-North.
Key Highlights
- 12th‑floor studio with open western views and strong natural light
- Full‑size kitchen with dining area, two large closets, and built‑in Murphy bed
- In‑unit washer and dryer plus renovated 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
$17,928
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
3.59%
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%
$358,560
$358.6K
Cap Rate 7%
$256,114
$256.1K
Cap Rate 9%
$199,200
$199.2K
Market Conditions
NOI Build-Up for 573 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
$34.3K $59.88/SF
− Vacancy
−$1.7K −$2.99/SF
EGI
$32.6K $56.89/SF
− OpEx
−$14.7K −$25.60/SF
NOI
$17.9K $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%
$358,560
Cap Rate 7%
$256,114
Cap Rate 9%
$199,200
Alternative Uses
Best Use
Apartment 5plus
$256.1K
$224.1K – $298.8K
NOI $17,928 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.66M
NOI $99,840 @ 7.0% cap · market cap 20.01%
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
8,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Studio residence with a full kitchen, in-unit laundry, renovated bath, and extensive building amenities.
Where is this residential income property located?
The property is located at 1485 5th Avenue 12G 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: 12th‑floor studio with open western views and strong natural light; Full‑size kitchen with dining area, two large closets, and built‑in Murphy bed; In‑unit washer and dryer plus renovated bathroom
