Corner Residential Income
New
For Sale
$990,000
18 W 48TH Street 11B, New York City, NY 10036
One-bedroom condominium residence with floor-to-ceiling windows, 10-foot ceilings, and an in-unit washer/dryer.
Property Size952 SF
Price / SF$1,039
Days on Market4
Property Features for 18 W 48TH Street 11B
General Information
Standard status
Active
Size
952 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
doorman
concierge
live-in resident manager
fitness room
laundry room
resident lounge
catering kitchen
bar
business center
conference rooms
courtyard garden
in-unit washer/dryer
Building Details
Building Size
952 SF
Year Built
2007
Stories
35
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Emma Y Hao
(917) 975-9162
Source:
Nilelundgren
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 2:43PM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This one-bedroom residential income property is a corner condominium residence within The Centria, a 35-story glass building completed in 2007. The home features floor-to-ceiling windows, 10-foot ceilings, a modern Italian stainless steel kitchen, an in-unit washer/dryer, a powder room, and a marble primary bathroom with Waterworks double sinks, a soaking tub, and mosaic-tiled shower.
Building amenities include 24-hour doorman and concierge service, a live-in resident manager, a 1,300-square-foot fitness room, resident laundry facilities, and a lounge overlooking Rockefeller Plaza. Residents also have access to a catering kitchen and bar, Wi-Fi-equipped business center, two conference rooms, and a courtyard garden.
The property is located at 18 W 48th Street in New York City, behind Rockefeller Center and near Fifth Avenue, Broadway theaters, luxury shopping, fine dining, and transportation.
Building amenities include 24-hour doorman and concierge service, a live-in resident manager, a 1,300-square-foot fitness room, resident laundry facilities, and a lounge overlooking Rockefeller Plaza. Residents also have access to a catering kitchen and bar, Wi-Fi-equipped business center, two conference rooms, and a courtyard garden.
The property is located at 18 W 48th Street in New York City, behind Rockefeller Center and near Fifth Avenue, Broadway theaters, luxury shopping, fine dining, and transportation.
Key Highlights
- Corner one‑bedroom residence with floor‑to‑ceiling windows and 10‑foot ceilings
- Located within The Centria, a 35‑story glass condominium completed in 2007
- Modern Italian stainless steel kitchen and in‑unit washer/dryer
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
$29,786
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
3.01%
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%
$595,720
$595.7K
Cap Rate 7%
$425,514
$425.5K
Cap Rate 9%
$330,956
$331.0K
Market Conditions
NOI Build-Up for 952 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
$57.0K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$54.2K $56.89/SF
− OpEx
−$24.4K −$25.60/SF
NOI
$29.8K $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%
$595,720
Cap Rate 7%
$425,514
Cap Rate 9%
$330,956
Alternative Uses
Best Use
Apartment 5plus
$425.5K
$372.3K – $496.4K
NOI $29,786 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.37M
$2.07M – $2.76M
NOI $165,876 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
87,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 10036, NY
33,868
Population
22,473
Households
1.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
84,670
Density / Sq Mi
$100,225
Median Household Income
$86,122
Median Earnings
$2,301
Median Rent
$988,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium residence with floor-to-ceiling windows, 10-foot ceilings, and an in-unit washer/dryer.
Where is this residential income property located?
The property is located at 18 W 48TH Street 11B New York City, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Corner one‑bedroom residence with floor‑to‑ceiling windows and 10‑foot ceilings; Located within The Centria, a 35‑story glass condominium completed in 2007; Modern Italian stainless steel kitchen and in‑unit washer/dryer
