Three-Bedroom Residential Income
For Sale
$1,600,000
Pending
1485 5TH Avenue 13A, New York City, NY 10035
High-floor residence with natural light, hardwood floors, modern finishes, and extensive building amenities near Marcus Garvey Park.
Property Size1,436 SF
Days on Market377
Property Features for 1485 5TH Avenue 13A
General Information
Standard status
Pending
Size
1,436 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Amenities
indoor heated pool
fitness room
sundeck
lounge
children's playroom
cold storage
24/7 attended lobby
doorman
concierge
live-in management
valet parking
bicycle room
outdoor space with gas grills
Building Details
Building Size
1,436 SF
Year Built
2007
Listing Agency:
CHERYL RODRIGUES REAL ESTATE LLC
Listed By:
Cheryl Rodrigues
(646) 823-7690
Source:
Serhant
Added: Aug 29, 2025
Changed: Sep 4
Last Checked: Sep 8 at 10:57AM
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 CHERYL RODRIGUES REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This 1,436-square-foot residential income property occupies a high floor at 5th on the Park Condominium. The three-bedroom, two-bath layout includes an open kitchen with stainless-steel appliances, custom cabinetry, and a built-in washer/dryer. Floor-to-ceiling windows, high ceilings, hardwood flooring, smart thermostats, and blackout shades are complemented by generous closet and storage space. The primary suite includes two floor-to-ceiling closets.
Completed in 2007, the condominium provides a 55-inch indoor heated pool, fitness room, community sundeck and lounge, children's playroom, cold storage, bicycle room, and 24/7 attended lobby service with a doorman, concierge, and live-in management. On-site valet parking is available through the 24/7 car and motorbike garage.
The property is at 1485 5th Avenue, between 119th and 120th Street, adjacent to Marcus Garvey Park. Nearby destinations include Whole Foods, Settapani, Red Rooster, Shake Shack, and Bed Bath & Beyond. Subway access includes the 4, 5, and 6 lines at 125th and 116th Lex, along with the 2 and 3 lines at 116th Lenox.
Completed in 2007, the condominium provides a 55-inch indoor heated pool, fitness room, community sundeck and lounge, children's playroom, cold storage, bicycle room, and 24/7 attended lobby service with a doorman, concierge, and live-in management. On-site valet parking is available through the 24/7 car and motorbike garage.
The property is at 1485 5th Avenue, between 119th and 120th Street, adjacent to Marcus Garvey Park. Nearby destinations include Whole Foods, Settapani, Red Rooster, Shake Shack, and Bed Bath & Beyond. Subway access includes the 4, 5, and 6 lines at 125th and 116th Lex, along with the 2 and 3 lines at 116th Lenox.
Key Highlights
- 1,436 SF three‑bedroom, two‑bath residence
- Floor‑to‑ceiling windows, hardwood floors, and high ceilings
- Open kitchen with stainless‑steel appliances and custom cabinetry
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
$44,929
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
2.81%
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%
$898,580
$898.6K
Cap Rate 7%
$641,843
$641.8K
Cap Rate 9%
$499,211
$499.2K
Market Conditions
NOI Build-Up for 1,436 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
$86.0K $59.88/SF
− Vacancy
−$4.3K −$2.99/SF
EGI
$81.7K $56.89/SF
− OpEx
−$36.8K −$25.60/SF
NOI
$44.9K $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%
$898,580
Cap Rate 7%
$641,843
Cap Rate 9%
$499,211
Alternative Uses
Best Use
Apartment 5plus
$641.8K
$561.6K – $748.8K
NOI $44,929 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.57M
$3.13M – $4.17M
NOI $250,209 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
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 - High-floor residence with natural light, hardwood floors, modern finishes, and extensive building amenities near Marcus Garvey Park.
Where is this residential income property located?
The property is located at 1485 5TH Avenue 13A New York City, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 1,436 SF three‑bedroom, two‑bath residence; Floor‑to‑ceiling windows, hardwood floors, and high ceilings; Open kitchen with stainless‑steel appliances and custom cabinetry
