Residential Income Property with Sleeping
For Sale
$475,000
350 E 62nd Street 1N, Manhattan, NY 10065
A renovated studio features an elevated sleeping area, hardwood flooring, and stainless steel kitchen appliances.
Property Size500 SF
Price / SF$950
Days on Market17
Property Features for 350 E 62nd Street 1N
General Information
Standard status
Active
Size
500 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,076
Amenities
full-time security guard/door attendants
live-in super
laundry room
Building Details
Building Size
500 SF
Year Built
1916
Listing Agency:
Compass
Listed By:
Takee M Brockman
(212) 753-7702
Source:
Nobleblackandpartners
Added: Oct 19
Changed: Nov 1
Last Checked: Nov 3 at 2:36PM
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
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Investment Insights
Based on property information with market context.
This studio residence has an open main living area, an elevated sleeping loft, 13-foot ceilings, and oversized windows. Hardwood floors, a renovated bathroom with designer finishes and an oversized vanity, and a kitchen with Caesarstone countertops, generous cabinetry, and stainless steel appliances complete the interior.
The 1916 building has two elevators, a full-time security guard and door attendants, a live-in superintendent, and a laundry room on the sixth floor. Trader Joe’s, Bloomingdale’s, and TJ Maxx are within walking distance, along with neighborhood restaurants. The Second Avenue subway is among the nearby transportation options.
The 1916 building has two elevators, a full-time security guard and door attendants, a live-in superintendent, and a laundry room on the sixth floor. Trader Joe’s, Bloomingdale’s, and TJ Maxx are within walking distance, along with neighborhood restaurants. The Second Avenue subway is among the nearby transportation options.
Key Highlights
- 13‑foot ceilings and oversized windows
- Elevated sleeping loft separates the sleeping area from the open living space
- Kitchen includes Caesarstone countertops, generous cabinetry, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,644
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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 Rate 5%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 18.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
31,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 10065, NY
32,891
Population
22,734
Households
1.4
Avg Household Size
40
Median Age
86%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
82,228
Density / Sq Mi
$160,938
Median Household Income
$121,212
Median Earnings
$2,828
Median Rent
$1,368,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated studio features an elevated sleeping area, hardwood flooring, and stainless steel kitchen appliances.
Where is this residential income property located?
The property is located at 350 E 62nd Street 1N Manhattan, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 13‑foot ceilings and oversized windows; Elevated sleeping loft separates the sleeping area from the open living space; Kitchen includes Caesarstone countertops, generous cabinetry, and stainless steel appliances
