9N Alcove Studio Co-op with
For Sale
$625,000
225 E 57TH Street 4M, New York City, NY 10022
Largest studio line in a 24-hour doorman co-op, overlooking private landscaped patios from the north tower.
Property Size800 SF
Days on Market96
Property Features for 225 E 57TH Street 4M
General Information
Standard status
Active
Size
800 SF
Property subtype
Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Amenities
24-hour doorman
roof deck
central laundry rooms
bike storage
package tracking system
on-site garage
marble and glass lobby
renovated hallways
Building Details
Building Size
800 SF
Year Built
1963
Listing Agency:
Serhant
Listed By:
Nile Lundgren
(917) 453-4526
Source:
Serhant
Added: Jun 5
Changed: Sep 4
Last Checked: Sep 8 at 11:31AM
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 Serhant
Investment Insights
Based on property information with market context.
Residence 9N is a huge alcove studio in the Harridge House, a full-service doorman co-op built in 1963. It’s the largest studio line in the building and can be easily converted into a junior one bedroom. The apartment features a full wall of windows, abundant closets, and gleaming parquet floors. The kitchen and bathroom are in good original condition, with the option to keep them as-is or update with your personal touches.
Located in the building’s north tower, 9N overlooks the building’s private landscaped patios and is insulated from the street, creating a peaceful, quiet setting. Whole Foods is directly across the street, and Trader Joe’s is at 59th Street and First Avenue, with easy access to multiple subway lines and the cross-town bus.
The Harridge House offers a 24-hour doorman, attentive staff, and a live-in building manager, along with a marble and glass lobby. Building amenities include renovated hallways, a roof deck, two central laundry rooms, bike storage, a computerized package tracking system, and an on-site garage with direct building access. Cats are allowed, and emotional support and/or service dogs are permitted with documentation. Pied-a-terre ownership and co-purchasing are permitted.
Located in the building’s north tower, 9N overlooks the building’s private landscaped patios and is insulated from the street, creating a peaceful, quiet setting. Whole Foods is directly across the street, and Trader Joe’s is at 59th Street and First Avenue, with easy access to multiple subway lines and the cross-town bus.
The Harridge House offers a 24-hour doorman, attentive staff, and a live-in building manager, along with a marble and glass lobby. Building amenities include renovated hallways, a roof deck, two central laundry rooms, bike storage, a computerized package tracking system, and an on-site garage with direct building access. Cats are allowed, and emotional support and/or service dogs are permitted with documentation. Pied-a-terre ownership and co-purchasing are permitted.
Key Highlights
- Largest studio line; can be easily converted into a junior one bedroom
- 24‑hour doorman co‑op with attentive staff and live‑in building manager
- North tower views over private landscaped patios; insulated from the street for quiet
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
$25,030
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
4.00%
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%
$500,600
$500.6K
Cap Rate 7%
$357,571
$357.6K
Cap Rate 9%
$278,111
$278.1K
Market Conditions
NOI Build-Up for 800 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
$47.9K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$45.5K $56.89/SF
− OpEx
−$20.5K −$25.60/SF
NOI
$25.0K $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%
$500,600
Cap Rate 7%
$357,571
Cap Rate 9%
$278,111
Alternative Uses
Best Use
Apartment 5plus
$357.6K
$312.9K – $417.2K
NOI $25,030 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,392 @ 7.0% cap · market cap 22.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46,622
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Largest studio line in a 24-hour doorman co-op, overlooking private landscaped patios from the north tower.
Where is this residential income property located?
The property is located at 225 E 57TH Street 4M New York City, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Largest studio line; can be easily converted into a junior one bedroom; 24‑hour doorman co‑op with attentive staff and live‑in building manager; North tower views over private landscaped patios; insulated from the street for quiet
