Renovated Residential Income
For Sale
$1,299,000
211 E 53rd Street 4K, New York City, NY 10022
Gut-renovated two-bedroom residence in a full-service, pet-friendly condop with flexible subletting policies.
Property Size1,250 SF
Price / SF$1,039
Days on Market22
Property Features for 211 E 53rd Street 4K
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman
live-in superintendent
furnished roof deck
bike room
laundry facilities
Building Details
Building Size
1,250 SF
Year Built
1959
Listing Agency:
Keller Williams NYC
Listed By:
Harjot Nayar · License #10401291584
(646) 598-8598
Source:
Miradorrealestate
Added: Sep 10
Changed: Sep 25
Last Checked: Sep 30 at 5:47PM
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 Keller Williams NYC
Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condop at The Hawthorne has undergone a comprehensive renovation with updated electrical and plumbing systems, recessed lighting, new flooring, remodeled kitchen and baths, and custom storage. The corner residence includes an entry foyer, a large living and dining area, wide-plank hardwood floors, and bedrooms positioned away from the street. Its open kitchen features custom cabinetry, stone countersplash, a walk-in pantry, Thermador and Fisher & Paykel appliances, a professional-grade gas range, pot filler, and breakfast bar.
The Hawthorne is a full-service, pet-friendly condop completed in 1959. Building amenities include a 24-hour doorman, live-in superintendent, furnished roof deck, bike room, laundry facilities, rentable storage, and an attached third-party garage. The property is near the E, M, and 6 trains, Whole Foods, Trader Joe's, Equinox, SoulCycle, restaurants, shopping, offices, and crosstown transportation.
The Hawthorne is a full-service, pet-friendly condop completed in 1959. Building amenities include a 24-hour doorman, live-in superintendent, furnished roof deck, bike room, laundry facilities, rentable storage, and an attached third-party garage. The property is near the E, M, and 6 trains, Whole Foods, Trader Joe's, Equinox, SoulCycle, restaurants, shopping, offices, and crosstown transportation.
Key Highlights
- Two‑bedroom, two‑bathroom corner condop at The Hawthorne
- Comprehensive renovation includes new electrical, plumbing, flooring, kitchen, and bathrooms
- Open kitchen with Thermador and Fisher & Paykel appliances, professional‑grade gas range, and walk‑in pantry
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
$39,109
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%
$782,180
$782.2K
Cap Rate 7%
$558,700
$558.7K
Cap Rate 9%
$434,544
$434.5K
Market Conditions
NOI Build-Up for 1,250 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
$74.9K $59.88/SF
− Vacancy
−$3.7K −$2.99/SF
EGI
$71.1K $56.89/SF
− OpEx
−$32.0K −$25.60/SF
NOI
$39.1K $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%
$782,180
Cap Rate 7%
$558,700
Cap Rate 9%
$434,544
Alternative Uses
Best Use
Apartment 5plus
$558.7K
$488.9K – $651.8K
NOI $39,109 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.11M
$2.72M – $3.63M
NOI $217,800 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
57,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 10022, NY
36,708
Population
25,686
Households
1.4
Avg Household Size
45
Median Age
84%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
91,770
Density / Sq Mi
$171,038
Median Household Income
$119,657
Median Earnings
$2,928
Median Rent
$1,116,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Gut-renovated two-bedroom residence in a full-service, pet-friendly condop with flexible subletting policies.
Where is this residential income property located?
The property is located at 211 E 53rd Street 4K New York City, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom corner condop at The Hawthorne; Comprehensive renovation includes new electrical, plumbing, flooring, kitchen, and bathrooms; Open kitchen with Thermador and Fisher & Paykel appliances, professional‑grade gas range, and walk‑in pantry
