Residential Income Property with
For Sale
$999,000
321 E 48TH Street 14A, New York City, NY 10017
A renovated two-bedroom layout includes an east-facing outdoor space and an in-unit washer and dryer.
Property Size984 SF
Price / SF$1,015
Days on Market12
Property Features for 321 E 48TH Street 14A
General Information
Standard status
Active
Size
984 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,072
Amenities
private terrace
24-hour doorman
live-in superintendent
storage
bike parking
laundry facilities
in-unit washer/dryer
Building Details
Building Size
984 SF
Year Built
1962
Listing Agency:
Douglas Elliman Real Estate
Listed By:
George Shapiro · License #10301223577
(646) 820-7456
Source:
Philipscheinfeld
Added: Oct 12
Changed: Oct 21
Last Checked: Oct 21 at 6:39AM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
Residence 14A is a renovated condominium with 984 square feet, a two-bedroom, one-bathroom layout, and a private east-facing terrace. The apartment occupies the 14th floor and has east and north exposures. Interior features include white oak flooring, a stainless steel-equipped kitchen, a renovated bathroom, an in-unit washer and dryer, and closet storage. The two-bedroom configuration is a conversion of a legally one-bedroom residence.
The Continental is a full-service condominium at 321 E 48th Street in Midtown East. Building services and amenities include a 24-hour doorman, a live-in superintendent, storage, bicycle parking, and shared laundry facilities. Grand Central Terminal, subway lines, dining, shopping, and entertainment are identified as nearby neighborhood offerings.
The Continental is a full-service condominium at 321 E 48th Street in Midtown East. Building services and amenities include a 24-hour doorman, a live-in superintendent, storage, bicycle parking, and shared laundry facilities. Grand Central Terminal, subway lines, dining, shopping, and entertainment are identified as nearby neighborhood offerings.
Key Highlights
- 984‑square‑foot condominium with a private east‑facing terrace
- Two‑bedroom, one‑bathroom layout converted from a legal one‑bedroom residence
- 14th‑floor residence with east and north exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,787
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,740
$615.7K
Cap Rate 7%
$439,814
$439.8K
Cap Rate 9%
$342,078
$342.1K
Market Conditions
NOI Build-Up for 984 SF
Gross rent
$58.9K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$56.0K $56.89/SF
− OpEx
−$25.2K −$25.60/SF
NOI
$30.8K $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 Rate 5%
$615,740
Cap Rate 7%
$439,814
Cap Rate 9%
$342,078
Alternative Uses
Best Use
Apartment 5plus
$439.8K
$384.8K – $513.1K
NOI $30,787 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.45M
$2.14M – $2.86M
NOI $171,452 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
38,138
Businesses Nearby
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Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated two-bedroom layout includes an east-facing outdoor space and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 321 E 48TH Street 14A New York City, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 984‑square‑foot condominium with a private east‑facing terrace; Two‑bedroom, one‑bathroom layout converted from a legal one‑bedroom residence; 14th‑floor residence with east and north exposures
