Duplex Residential Income Property with
For Sale
$1,999,999
1485 5th Avenue 18/19H, New York City, NY 10035
Two-level condominium home features three bedrooms, three bathrooms, open kitchen, private laundry, and expansive city views.
Property Size1,953 SF
Price / SF$1,024
Days on Market343
Property Features for 1485 5th Avenue 18/19H
General Information
Standard status
Active
Size
1,953 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$240
Amenities
private terrace
24-hour attended atrium lobby
state-of-the-art gym
heated lap pool
sun deck
community room with free Wi-Fi
catering kitchen
sun/dining deck
gas grills
playroom
attended parking
Building Details
Building Size
1,953 SF
Year Built
2007
Stories
28
Listing Agency:
Compass
Listed By:
Mitchell H Simmons
(917) 531-5193
Source:
Serhant
Added: Sep 30, 2025
Changed: Sep 4
Last Checked: Sep 7 at 6:22AM
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 two-level condominium residence combines 1,953 square feet with three bedrooms, three bathrooms, and a 210 square foot private terrace. The lower floor provides connected living, dining, and entertaining areas, while the upper level contains the bedrooms, including a primary suite with an ensuite bath. Wide-plank cherry flooring, 10.5-foot ceilings, and an open kitchen with stainless steel appliances, black granite counters, dual ovens, a five-burner gas range, dishwasher, pantry, and home office add functional detail. A separate laundry room and generous closet storage support daily use.
The home occupies the 18th and 19th floors of Fifth on the Park, a 28-story condominium tower completed in 2007. Building amenities include a 24-hour attended atrium lobby, gym, heated lap pool with sun deck, community room, catering kitchen, outdoor dining deck, gas grills, playroom, and attended parking. The property is located at 1485 Fifth Avenue in New York City, adjacent to Mount Morris Park and within walking distance of transportation, Whole Foods, and restaurants. A 421A tax abatement has 12 years remaining.
The home occupies the 18th and 19th floors of Fifth on the Park, a 28-story condominium tower completed in 2007. Building amenities include a 24-hour attended atrium lobby, gym, heated lap pool with sun deck, community room, catering kitchen, outdoor dining deck, gas grills, playroom, and attended parking. The property is located at 1485 Fifth Avenue in New York City, adjacent to Mount Morris Park and within walking distance of transportation, Whole Foods, and restaurants. A 421A tax abatement has 12 years remaining.
Key Highlights
- 1,953 square foot duplex residence with access from the 18th and 19th floors
- 210 square foot private terrace with views toward Central Park and Midtown
- Three bedrooms and three bathrooms, including a primary ensuite
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
$61,104
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
3.06%
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%
$1,222,080
$1.2M
Cap Rate 7%
$872,914
$872.9K
Cap Rate 9%
$678,933
$678.9K
Market Conditions
NOI Build-Up for 1,953 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
$116.9K $59.88/SF
− Vacancy
−$5.8K −$2.99/SF
EGI
$111.1K $56.89/SF
− OpEx
−$50.0K −$25.60/SF
NOI
$61.1K $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%
$1,222,080
Cap Rate 7%
$872,914
Cap Rate 9%
$678,933
Alternative Uses
Best Use
Apartment 5plus
$872.9K
$763.8K – $1.02M
NOI $61,104 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.86M
$4.25M – $5.67M
NOI $340,291 @ 7.0% cap · market cap 17.01%
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 - Two-level condominium home features three bedrooms, three bathrooms, open kitchen, private laundry, and expansive city views.
Where is this residential income property located?
The property is located at 1485 5th Avenue 18/19H New York City, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 1,953 square foot duplex residence with access from the 18th and 19th floors; 210 square foot private terrace with views toward Central Park and Midtown; Three bedrooms and three bathrooms, including a primary ensuite
