Residential Income Property in Art Deco
227 E 57th Street 3DEF New York City, NY 10022
New
For Sale
$1,100,000
Flexible residence currently configured as three bedrooms with a fourth flexible room and three full bathrooms.
Property Size1,750 SF
Price / SF$628.57
Days on Market4
Property Features for 227 E 57th Street 3DEF
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Apartment
Building Details
Year Built
1931
Listing Agency:
Compass
(917) 405-6336
Listed By:
Fabienne Lecole
(917) 405-6336
Source:
Tricialee
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 5:50AM
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 Compass
Investment Insights
Based on property information with market context.
Approximately 1,750-square-foot residence at 227 East 57th Street offers flexible layout options in an Art Deco co-op. The unit was originally configured as three separate apartments and later combined into one expansive home. It can be restored to three residences, divided into two, or adapted into a single custom home.
Currently configured with three bedrooms plus a fourth room that can serve as a bedroom, home office, den, or formal dining room, the home includes three full bathrooms. It features south, east, and west exposures, an oversized living room, and an existing two-kitchen layout consisting of a full kitchen and a half kitchen. Additional conveniences include an in-unit washer and dryer and eight closets, and all major appliances have been recently purchased.
The building is an intimate, full-service Art Deco cooperative with a 24-hour doorman, live-in superintendent, dedicated staff, and a beautifully maintained lobby. Amenities include private storage, bicycle storage, and central laundry, and the co-op is pet-friendly with a pied-a-terre-friendly policy. Built in 1931, the building serves as a full-service setting for renovation-ready living in Manhattan.
Currently configured with three bedrooms plus a fourth room that can serve as a bedroom, home office, den, or formal dining room, the home includes three full bathrooms. It features south, east, and west exposures, an oversized living room, and an existing two-kitchen layout consisting of a full kitchen and a half kitchen. Additional conveniences include an in-unit washer and dryer and eight closets, and all major appliances have been recently purchased.
The building is an intimate, full-service Art Deco cooperative with a 24-hour doorman, live-in superintendent, dedicated staff, and a beautifully maintained lobby. Amenities include private storage, bicycle storage, and central laundry, and the co-op is pet-friendly with a pied-a-terre-friendly policy. Built in 1931, the building serves as a full-service setting for renovation-ready living in Manhattan.
Key Highlights
- Approximately 1,750‑square‑foot residence in a 1931 Art Deco cooperative
- Originally configured as three apartments; combined into one home with flexible reconfiguration options
- Three bedrooms plus a fourth flexible room for bedroom, office, den, or dining
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.8k | $59.88 |
| − Vacancy | −$5.2k | −$2.99 |
| EGI | $99.6k | $56.89 |
| − OpEx | −$44.8k | −$25.60 |
| NOI | $54.8k | $31.29 |
1,750 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$782.2K
$684.4K – $912.6K
NOI $54,753 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.36M
$3.81M – $5.08M
NOI $304,920 @ 7.0% cap · market cap 27.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Residential income property - Flexible residence currently configured as three bedrooms with a fourth flexible room and three full bathrooms.
Where is this residential income property located?
The property is located at 227 E 57th Street 3DEF New York City, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 1,750‑square‑foot residence in a 1931 Art Deco cooperative; Originally configured as three apartments; combined into one home with flexible reconfiguration options; Three bedrooms plus a fourth flexible room for bedroom, office, den, or dining
