High-Floor Residential Income
For Sale
$795,000
Pending
1485 5th Avenue 22C, New York City, NY 10035
One-bedroom residence with open kitchen, hardwood floors, and in-unit laundry in a full-service building.
Property Size803 SF
Days on Market41
Property Features for 1485 5th Avenue 22C
General Information
Standard status
Pending
Size
803 SF
Property subtype
Apartment
Additional Details
HOA Fee
$568.43
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$288
Amenities
24-hour attended lobby with doorman and concierge
valet parking garage
indoor swimming pool
fully equipped fitness center
residents' lounge with catering kitchen
children's playroom
beautifully furnished rooftop
in-unit washer/dryer
Building Details
Building Size
803 SF
Year Built
2007
Stories
28
Listing Agency:
Sothebys International Realty
(212) 606-4152
Listed By:
Nicole A Ramos Beauchamp
(212) 606-4152
Source:
Miradorrealestate
Added: Jul 16
Changed: Aug 16
Last Checked: Aug 15 at 11:41AM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
Residence 22C is an 803-square-foot, one-bedroom, one-bath home positioned on the 22nd floor of a 28-story building completed in 2007. The layout includes an open kitchen with stainless-steel appliances, substantial cabinetry, and a breakfast bar, along with hardwood flooring and an in-unit washer/dryer located in the foyer. The home receives natural light and overlooks city views.
Building amenities include a 24-hour attended lobby with doorman and concierge services, valet parking garage, indoor swimming pool, fitness center, residents’ lounge with catering kitchen, children’s playroom, and furnished rooftop. The property is near Mount Morris Park, Metro-North, and subway lines 2, 3, 4, 5, and 6. The surrounding area includes restaurants, cafes, boutiques, and cultural destinations.
Building amenities include a 24-hour attended lobby with doorman and concierge services, valet parking garage, indoor swimming pool, fitness center, residents’ lounge with catering kitchen, children’s playroom, and furnished rooftop. The property is near Mount Morris Park, Metro-North, and subway lines 2, 3, 4, 5, and 6. The surrounding area includes restaurants, cafes, boutiques, and cultural destinations.
Key Highlights
- 803‑square‑foot one‑bedroom, one‑bath residence
- Located on the 22nd floor of a 28‑story building completed in 2007
- Open kitchen with stainless‑steel appliances, cabinetry, and breakfast bar
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
$25,124
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
3.16%
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%
$502,480
$502.5K
Cap Rate 7%
$358,914
$358.9K
Cap Rate 9%
$279,156
$279.2K
Market Conditions
NOI Build-Up for 803 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
$48.1K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$45.7K $56.89/SF
− OpEx
−$20.6K −$25.60/SF
NOI
$25.1K $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%
$502,480
Cap Rate 7%
$358,914
Cap Rate 9%
$279,156
Alternative Uses
Best Use
Apartment 5plus
$358.9K
$314.1K – $418.7K
NOI $25,124 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.00M
$1.75M – $2.33M
NOI $139,915 @ 7.0% cap · market cap 17.60%
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 - One-bedroom residence with open kitchen, hardwood floors, and in-unit laundry in a full-service building.
Where is this residential income property located?
The property is located at 1485 5th Avenue 22C New York City, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 803‑square‑foot one‑bedroom, one‑bath residence; Located on the 22nd floor of a 28‑story building completed in 2007; Open kitchen with stainless‑steel appliances, cabinetry, and breakfast bar
