Duplex Residential Income
For Sale
$925,000
345 E 50TH Street 5A, New York City, NY 10022
Two-level residence with a private terrace, balcony, luxury kitchen, and access to full-service condominium amenities.
Property Size924 SF
Price / SF$1,001
Days on Market10
Property Features for 345 E 50TH Street 5A
General Information
Standard status
Active
Size
924 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$11,148
Amenities
24-hour doorman
fitness center
yoga room
in-unit washer/dryer
private terrace
private balcony
Building Details
Building Size
924 SF
Year Built
1900
Listing Agency:
Corcoran Group
Listed By:
Jonathan D Schulz · License #10401208840 (NY)
(917) 293-7927
Source:
Carytamura
Added: Sep 15
Changed: Sep 23
Last Checked: Sep 22 at 8:33PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Located at 345 E 50th Street in New York City, this 924-square-foot duplex residential property offers one bedroom and 1.5 bathrooms across two levels. The upper floor contains the bedroom suite, which opens to a private terrace with skyline views. The main level features an open living and dining area, a separate powder room, and a private balcony.
The kitchen includes Sub-Zero, Bosch, Miele, Fisher & Paykel, and wine refrigeration appliances, along with stone counters and custom cabinetry. Additional interior features include an in-unit washer and dryer and Brazilian cherry wood flooring. The property is within M at Beekman, a full-service boutique condominium with a 24-hour doorman, fitness center, and yoga room. Built in 1900, it is situated in Midtown East near the United Nations and Grand Central Terminal.
The kitchen includes Sub-Zero, Bosch, Miele, Fisher & Paykel, and wine refrigeration appliances, along with stone counters and custom cabinetry. Additional interior features include an in-unit washer and dryer and Brazilian cherry wood flooring. The property is within M at Beekman, a full-service boutique condominium with a 24-hour doorman, fitness center, and yoga room. Built in 1900, it is situated in Midtown East near the United Nations and Grand Central Terminal.
Key Highlights
- 924 SF duplex with 1 bedroom and 1.5 bathrooms
- Private terrace with skyline views plus a separate balcony
- Kitchen with Sub‑Zero, Bosch, Miele, and Fisher & Paykel appliances
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
$28,909
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
3.13%
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%
$578,180
$578.2K
Cap Rate 7%
$412,986
$413.0K
Cap Rate 9%
$321,211
$321.2K
Market Conditions
NOI Build-Up for 924 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
$55.3K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$52.6K $56.89/SF
− OpEx
−$23.7K −$25.60/SF
NOI
$28.9K $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%
$578,180
Cap Rate 7%
$412,986
Cap Rate 9%
$321,211
Alternative Uses
Best Use
Apartment 5plus
$413.0K
$361.4K – $481.8K
NOI $28,909 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $160,998 @ 7.0% cap · market cap 17.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
38,138
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 - Two-level residence with a private terrace, balcony, luxury kitchen, and access to full-service condominium amenities.
Where is this residential income property located?
The property is located at 345 E 50TH Street 5A New York City, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 924 SF duplex with 1 bedroom and 1.5 bathrooms; Private terrace with skyline views plus a separate balcony; Kitchen with Sub‑Zero, Bosch, Miele, and Fisher & Paykel appliances
