Residence with Two Private
For Sale
$1,675,000
300 E 59th Street 705, New York City, NY 10022
Spacious three-to-four bedroom layout with two private balconies, two and a half baths, and in-building laundry on every floor.
Property Size2,006 SF
Price / SF$834
Days on Market137
Property Features for 300 E 59th Street 705
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Apartment
Building Details
Building Size
2,006 SF
Year Built
1974
Listing Agency:
Compass
(347) 463-8128
Listed By:
Eileen M Foy · License #30FO0888086
(347) 463-8128
Source:
Howardhannanyc
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 10 at 9:31AM
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 Compass
Investment Insights
Based on property information with market context.
Apartment 705 at 300 E 59th Street is a very spacious home created by combining the 04 and 05 lines, delivering the feel and flexibility of a true three-to-four bedroom residence with two and a half bathrooms. The layout is organized into distinct living, dining, and private quarters, starting with a gracious foyer that opens to an oversized living room designed for both everyday comfort and entertaining. Expansive, oversized windows bring in natural light from western and northern exposures and highlight open city views.
The entertaining area flows into a dedicated dining space, with a windowed kitchen positioned just off the dining area. Two private balconies extend the indoor-outdoor experience, and the bedroom wing is separated to maximize privacy. The primary suite offers ample space, strong closet capacity, and an en-suite bathroom, while additional bedrooms provide flexibility for guest rooms, home offices, or other uses. Washer and dryer are conveniently located on the same floor.
The building offers a full-service lifestyle, including a roof terrace with sweeping 360deg skyline views, attentive staff with doormen, swift elevators, and an on-site garage. Laundry is available on every floor, and there is a live-in superintendent. Pet-friendly and no flip tax are noted, and up to 70% financing is allowed. Built in 1974, the location is moments from the N, Q, R, W, 4, 5, and 6 trains and within walking distance of Bloomingdale’s, Trader Joe’s, Whole Foods, and Katagiri Japanese Grocery.
The entertaining area flows into a dedicated dining space, with a windowed kitchen positioned just off the dining area. Two private balconies extend the indoor-outdoor experience, and the bedroom wing is separated to maximize privacy. The primary suite offers ample space, strong closet capacity, and an en-suite bathroom, while additional bedrooms provide flexibility for guest rooms, home offices, or other uses. Washer and dryer are conveniently located on the same floor.
The building offers a full-service lifestyle, including a roof terrace with sweeping 360deg skyline views, attentive staff with doormen, swift elevators, and an on-site garage. Laundry is available on every floor, and there is a live-in superintendent. Pet-friendly and no flip tax are noted, and up to 70% financing is allowed. Built in 1974, the location is moments from the N, Q, R, W, 4, 5, and 6 trains and within walking distance of Bloomingdale’s, Trader Joe’s, Whole Foods, and Katagiri Japanese Grocery.
Key Highlights
- Combined 04 and 05 lines create a flexible three‑to‑four bedroom layout
- Two private balconies with open city views
- Oversized windows with western and northern exposures for bright entertaining spaces
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
$62,762
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
3.75%
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%
$1,255,240
$1.3M
Cap Rate 7%
$896,600
$896.6K
Cap Rate 9%
$697,356
$697.4K
Market Conditions
NOI Build-Up for 2,006 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
$120.1K $59.88/SF
− Vacancy
−$6.0K −$2.99/SF
EGI
$114.1K $56.89/SF
− OpEx
−$51.4K −$25.60/SF
NOI
$62.8K $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%
$1,255,240
Cap Rate 7%
$896,600
Cap Rate 9%
$697,356
Alternative Uses
Best Use
Apartment 5plus
$896.6K
$784.5K – $1.05M
NOI $62,762 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.99M
$4.37M – $5.83M
NOI $349,525 @ 7.0% cap · market cap 20.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
40,089
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Spacious three-to-four bedroom layout with two private balconies, two and a half baths, and in-building laundry on every floor.
Where is this residential income property located?
The property is located at 300 E 59th Street 705 New York City, NY.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Combined 04 and 05 lines create a flexible three‑to‑four bedroom layout; Two private balconies with open city views; Oversized windows with western and northern exposures for bright entertaining spaces
