Renovated One-Bedroom Cooperative
16 PARK Avenue 12C, Manhattan, NY 10016
For Sale
$650,000
A high-floor corner home pairs prewar architectural details with updated kitchen and bathroom finishes.
Property Size750 SF
Price / SF$866.67
Days on Market149
Property Features for 16 PARK Avenue 12C
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Amenities
attended lobby
live-in super
landscaped garden
central laundry
storage
bike room
Building Details
Building Size
Year Built
Listing Agency:
Corcoran Group
Listed By:
Daniel Sholomon · License #10401308685 (NY)
(516) 376-7111
Source:
Blackandwhiteresidential
Added: Jun 12
Changed: Nov 3
Last Checked: Nov 7 at 6:50AM
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
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Investment Insights
Based on property information with market context.
Residence 12C is a renovated one-bedroom, one-bathroom corner apartment in a prewar cooperative building completed in 1924. The 750-square-foot home has a windowed kitchen, a living room with three south-facing windows, and a bedroom with southern and western exposures. Storage includes five closets, among them a walk-in, and the bedroom also has a built-in desk and en-suite bathroom. High beamed ceilings and custom millwork retain architectural character, while updated kitchen and bath fixtures provide contemporary finishes.
Building amenities include an attended lobby, live-in superintendent, landscaped garden, central laundry, storage, and bike room. The building is near Grand Central and Penn Station and offers access to the 4/5/6, B/D/F/M, N/Q/R/W, and 7/S subway lines. Pets, pied-à-terres, and co-purchasing are allowed.
Building amenities include an attended lobby, live-in superintendent, landscaped garden, central laundry, storage, and bike room. The building is near Grand Central and Penn Station and offers access to the 4/5/6, B/D/F/M, N/Q/R/W, and 7/S subway lines. Pets, pied-à-terres, and co-purchasing are allowed.
Key Highlights
- 750‑square‑foot, one‑bedroom, one‑bathroom corner apartment
- Windowed kitchen and living room with three south‑facing windows
- Bedroom has southern and western exposures, three closets, and a built‑in desk
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,465
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,300
$469.3K
Cap Rate 7%
$335,214
$335.2K
Cap Rate 9%
$260,722
$260.7K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$44.9K $59.88/SF
− Vacancy
−$2.2K −$2.99/SF
EGI
$42.7K $56.89/SF
− OpEx
−$19.2K −$25.60/SF
NOI
$23.5K $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 Rate 5%
$469,300
Cap Rate 7%
$335,214
Cap Rate 9%
$260,722
Alternative Uses
Best Use
Apartment 5plus
$335.2K
$293.3K – $391.1K
NOI $23,465 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,680 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
46,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - A high-floor corner home pairs prewar architectural details with updated kitchen and bathroom finishes.
Where is this residential income property located?
The property is located at 16 PARK Avenue 12C Manhattan, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 750‑square‑foot, one‑bedroom, one‑bathroom corner apartment; Windowed kitchen and living room with three south‑facing windows; Bedroom has southern and western exposures, three closets, and a built‑in desk
