Renovated Residential Income
For Sale
$550,000
20 E 88TH Street 4B, New York City, NY 10128
Renovated cooperative apartment with elevator access, high ceilings, and a windowed kitchen and bathroom.
Property Size650 SF
Days on Market140
Property Features for 20 E 88TH Street 4B
General Information
Standard status
Active
Size
650 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
laundry in the building
Building Details
Building Size
650 SF
Year Built
1923
Construction
prewar
Listing Agency:
Corcoran Group
(917) 783-2041
Listed By:
Nena M Marlo · License #40MA0418973 (NY)
(917) 783-2041
Source:
Serhant
Added: Apr 8
Changed: Aug 24
Last Checked: Aug 24 at 2:53PM
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
Investment Insights
Based on property information with market context.
This renovated one-bedroom, one-bath cooperative apartment is located in a prewar building constructed in 1923. The home features north and south exposures, high ceilings, a windowed kitchen, and a windowed bathroom. Elevator service and laundry facilities are available within the building, and the apartment is presented in move-in condition.
The property is positioned between Fifth and Madison Avenues, approximately half a block from Central Park and near Museum Mile, the Guggenheim Museum, The Met, Madison Avenue shops, restaurants, gourmet stores, schools, art galleries, and transportation. Pied-à-terre use, guarantors, and subletting are permitted subject to approval.
The property is positioned between Fifth and Madison Avenues, approximately half a block from Central Park and near Museum Mile, the Guggenheim Museum, The Met, Madison Avenue shops, restaurants, gourmet stores, schools, art galleries, and transportation. Pied-à-terre use, guarantors, and subletting are permitted subject to approval.
Key Highlights
- One‑bedroom, one‑bath cooperative apartment
- Renovated and described as move‑in condition
- Prewar building constructed in 1923
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
$20,294
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
3.69%
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%
$405,880
$405.9K
Cap Rate 7%
$289,914
$289.9K
Cap Rate 9%
$225,489
$225.5K
Market Conditions
NOI Build-Up for 650 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
$38.9K $59.88/SF
− Vacancy
−$2.0K −$3.11/SF
EGI
$36.9K $56.77/SF
− OpEx
−$16.6K −$25.54/SF
NOI
$20.3K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
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%
$405,880
Cap Rate 7%
$289,914
Cap Rate 9%
$225,489
Alternative Uses
Best Use
Apartment 5plus
$289.9K
$253.7K – $338.2K
NOI $20,294 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.2K
$404.4K – $539.2K
NOI $32,351 @ 7.0% cap · market cap 5.88%
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
10,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated cooperative apartment with elevator access, high ceilings, and a windowed kitchen and bathroom.
Where is this residential income property located?
The property is located at 20 E 88TH Street 4B New York City, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath cooperative apartment; Renovated and described as move‑in condition; Prewar building constructed in 1923
