Pre-War Residential Income
357 W 55TH Street 2G, Manhattan, NY 10019
For Sale
$949,000
A two-bedroom residence in a six-story cooperative building with laundry, bike storage, and a part-time doorman.
Property Size976 SF
Price / SF$972.34
Days on Market54
Property Features for 357 W 55TH Street 2G
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
laundry room
storage
bike storage
part-time doorman
live-in superintendent
Building Details
Building Size
Year Built
Stories
Listing Agency:
Corcoran Group
Listed By:
Abra N Nowitz
(718) 564-9829
Source:
Decodenyc
Added: Sep 17
Changed: Nov 9
Last Checked: Nov 8 at 3:43PM
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
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Investment Insights
Based on property information with market context.
This 976-square-foot, two-bedroom, one-bath residence features a sunken living room, coffered ceilings, and wide-plank hardwood floors. The kitchen includes stainless steel appliances, cabinetry, counter space, and a breakfast bar. Both bedrooms have windows; the primary bedroom has a wall of closets, and the second bedroom can also serve as a home office. The home is in a pre-war cooperative building completed in 1935, with 72 units across six stories.
Building amenities and services include a live-in superintendent, part-time doorman, laundry room, storage, and bike storage. The cooperative permits up to 80% financing, gifting, pied-à-terres, and co-purchasing, and has a flexible sublet policy. Pets are permitted.
Building amenities and services include a live-in superintendent, part-time doorman, laundry room, storage, and bike storage. The cooperative permits up to 80% financing, gifting, pied-à-terres, and co-purchasing, and has a flexible sublet policy. Pets are permitted.
Key Highlights
- 976‑square‑foot residence with two bedrooms and one bathroom
- Six‑story pre‑war cooperative building with 72 units; built in 1935
- Sunken living room, coffered ceilings, and wide‑plank hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,536
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,720
$610.7K
Cap Rate 7%
$436,229
$436.2K
Cap Rate 9%
$339,289
$339.3K
Market Conditions
NOI Build-Up for 976 SF
Gross rent
$58.4K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$55.5K $56.89/SF
− OpEx
−$25.0K −$25.60/SF
NOI
$30.5K $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%
$610,720
Cap Rate 7%
$436,229
Cap Rate 9%
$339,289
Alternative Uses
Best Use
Apartment 5plus
$436.2K
$381.7K – $508.9K
NOI $30,536 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$682.3K
$597.1K – $796.1K
NOI $47,764 @ 7.0% cap · market cap 5.03%
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
27,619
Businesses Nearby
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Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom residence in a six-story cooperative building with laundry, bike storage, and a part-time doorman.
Where is this residential income property located?
The property is located at 357 W 55TH Street 2G Manhattan, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 976‑square‑foot residence with two bedrooms and one bathroom; Six‑story pre‑war cooperative building with 72 units; built in 1935; Sunken living room, coffered ceilings, and wide‑plank hardwood floors
