Residential Property with Western
For Sale
$2,395,000
35 PARK Avenue 11D, New York City, NY 10016
A full-service Murray Hill co-op residence features custom-built storage, a private bar, and a wine cellar.
Property Size2,800 SF
Price / SF$855.36
Days on Market8
Property Features for 35 PARK Avenue 11D
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Building Details
Building Size
2,800 SF
Year Built
1955
Listing Agency:
Corcoran Group
Listed By:
Maham Chaudhary · License #10401301377 (NY)
(646) 719-5975
Source:
Miradorrealestate
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 30 at 4:24PM
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.
This Park Avenue co-op residence has a foyer, a living room with western views, and a dining room separated from the kitchen and bar area by etched-glass pocket doors. The eat-in kitchen includes custom cabinetry, a granite island, a Sub-Zero refrigerator, a Miele dishwasher, a countertop stove, two ovens, and a built-in microwave. The residence offers two primary suites, each with a full bathroom, along with a third bedroom currently arranged as a den. That room includes a wet bar, beverage refrigerator, walk-in closet, and built-ins. The first suite has two full bathrooms; the second has a walk-in closet and one full bathroom. The home also has a private wine cellar, seven-zone heating and cooling, seven closets, and additional custom storage throughout.
The building is a full-service co-op in Murray Hill. The property was built in 1955, and showings require 24 hours’ notice.
The building is a full-service co-op in Murray Hill. The property was built in 1955, and showings require 24 hours’ notice.
Key Highlights
- Full‑service co‑op residence in Murray Hill
- Two primary suites and a third bedroom currently used as a den
- Seven‑zone heating and cooling
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
$87,604
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
3.66%
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%
$1,752,080
$1.8M
Cap Rate 7%
$1,251,486
$1.3M
Cap Rate 9%
$973,378
$973.4K
Market Conditions
NOI Build-Up for 2,800 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
$167.7K $59.88/SF
− Vacancy
−$8.4K −$2.99/SF
EGI
$159.3K $56.89/SF
− OpEx
−$71.7K −$25.60/SF
NOI
$87.6K $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%
$1,752,080
Cap Rate 7%
$1,251,486
Cap Rate 9%
$973,378
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,604 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.97M
$6.10M – $8.13M
NOI $487,872 @ 7.0% cap · market cap 20.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
46,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A full-service Murray Hill co-op residence features custom-built storage, a private bar, and a wine cellar.
Where is this residential income property located?
The property is located at 35 PARK Avenue 11D New York City, NY.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Full‑service co‑op residence in Murray Hill; Two primary suites and a third bedroom currently used as a den; Seven‑zone heating and cooling
