Residential One-Bedroom
For Sale
$975,000
40 E 94th Street 4K, New York City, NY 10128
One-bedroom condo in a post-war building with a landscaped roof deck and 24-hour concierge service.
Property Size1,300 SF
Price / SF$750
Days on Market27
Property Features for 40 E 94th Street 4K
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$13,260
Amenities
landscaped roof deck
gym
garden
bike room
garage
common storage space
24-hour concierge
Building Details
Building Size
1,300 SF
Year Built
1983
Listing Agency:
Howard Hanna NYC
(917) 566-4956
Listed By:
Peter Oliveri
(917) 566-4956
Source:
Howardhannanyc
Added: Jul 15
Changed: Aug 8
Last Checked: Aug 10 at 9:39AM
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 Howard Hanna NYC
Investment Insights
Based on property information with market context.
This one-bedroom condo offers quiet, gracious living with large windows for natural light and substantial closet space. The home has been renovated with a new kitchen featuring a dishwasher, generous counter space, and ample storage, plus wide-plank hardwood floors throughout. The apartment is positioned in a quiet line of the building, creating a more peaceful retreat.
Carnegie Hill Tower is a post-war building with a landscaped roof deck, gym, garden, bike room, common storage space, and a garage. Building service includes 24-hour concierge. Residents enjoy close proximity to Central Park and the Jacqueline Kennedy Onassis Reservoir, with easy access to dining, museums, shops, and entertainment.
Built in 1983, the building supports a full-service lifestyle with shared amenities designed for everyday convenience and comfort.
Carnegie Hill Tower is a post-war building with a landscaped roof deck, gym, garden, bike room, common storage space, and a garage. Building service includes 24-hour concierge. Residents enjoy close proximity to Central Park and the Jacqueline Kennedy Onassis Reservoir, with easy access to dining, museums, shops, and entertainment.
Built in 1983, the building supports a full-service lifestyle with shared amenities designed for everyday convenience and comfort.
Key Highlights
- Post‑war building condo with wide‑plank hardwood floors and a renovated kitchen
- New kitchen includes a dishwasher, generous counter space, and ample storage
- Landscaped roof deck, gym, and garden amenities
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
$40,588
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
4.16%
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%
$811,760
$811.8K
Cap Rate 7%
$579,829
$579.8K
Cap Rate 9%
$450,978
$451.0K
Market Conditions
NOI Build-Up for 1,300 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
$77.8K $59.88/SF
− Vacancy
−$4.0K −$3.11/SF
EGI
$73.8K $56.77/SF
− OpEx
−$33.2K −$25.54/SF
NOI
$40.6K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
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%
$811,760
Cap Rate 7%
$579,829
Cap Rate 9%
$450,978
Alternative Uses
Best Use
Apartment 5plus
$579.8K
$507.4K – $676.5K
NOI $40,588 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$924.3K
$808.8K – $1.08M
NOI $64,702 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16,382
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condo in a post-war building with a landscaped roof deck and 24-hour concierge service.
Where is this residential income property located?
The property is located at 40 E 94th Street 4K New York City, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Post‑war building condo with wide‑plank hardwood floors and a renovated kitchen; New kitchen includes a dishwasher, generous counter space, and ample storage; Landscaped roof deck, gym, and garden amenities
