Renovated Junior 4 Residential Income
For Sale
$885,000
400 E 56TH Street 25F, New York City, NY 10022
One-bedroom layout includes a flexible additional room, updated finishes, and extensive storage.
Property Size948 SF
Price / SF$933.54
Days on Market10
Property Features for 400 E 56TH Street 25F
General Information
Standard status
Active
Size
948 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman
concierge
security desk
package room
fitness center
yoga/stretching studio
laundry room
bicycle storage
rooftop heated pool
party/game room
playroom
wine refrigerator
Building Details
Building Size
948 SF
Year Built
1969
Listing Agency:
Next Stop NY
Listed By:
Jeffrey Cohen
(914) 489-1450
Source:
Howardhannanyc
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 22 at 10:36PM
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 Next Stop NY
Investment Insights
Based on property information with market context.
Residence 25F is a renovated 948-square-foot one-bedroom, 1.5-bath home arranged in a Junior 4 configuration. The additional room can serve as an office or sleeping area. Engineered hardwood floors, custom closets, a wine refrigerator, updated kitchen and bathrooms, and substantial storage are included. North- and west-facing windows bring open city and skyline outlooks to the living areas and king-sized bedroom.
Plaza 400 is a 1969-built, full-service co-op with a renovated lobby, 24-hour doorman, concierge, security desk, staffed package room, fitness center, yoga and stretching studio, laundry room, and bicycle storage. Building operations include a live-in superintendent and assistant superintendent. The rooftop offers a heated outdoor pool, panoramic city views, a party or game room, playroom, tables, and lounge seating.
Utilities are included in maintenance. The building permits pets, pieds-à-terre, guarantors, co-purchasing, and parents purchasing for children. Sutton Place Park, the East Midtown Greenway, retail, restaurants, and multiple subway and bus routes are nearby.
Plaza 400 is a 1969-built, full-service co-op with a renovated lobby, 24-hour doorman, concierge, security desk, staffed package room, fitness center, yoga and stretching studio, laundry room, and bicycle storage. Building operations include a live-in superintendent and assistant superintendent. The rooftop offers a heated outdoor pool, panoramic city views, a party or game room, playroom, tables, and lounge seating.
Utilities are included in maintenance. The building permits pets, pieds-à-terre, guarantors, co-purchasing, and parents purchasing for children. Sutton Place Park, the East Midtown Greenway, retail, restaurants, and multiple subway and bus routes are nearby.
Key Highlights
- 948 SF one‑bedroom, 1.5‑bath Junior 4 residence
- Flexible additional room for office or sleeping area
- North and west exposures with open city and skyline views
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
$29,660
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
3.35%
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%
$593,200
$593.2K
Cap Rate 7%
$423,714
$423.7K
Cap Rate 9%
$329,556
$329.6K
Market Conditions
NOI Build-Up for 948 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
$56.8K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$53.9K $56.89/SF
− OpEx
−$24.3K −$25.60/SF
NOI
$29.7K $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%
$593,200
Cap Rate 7%
$423,714
Cap Rate 9%
$329,556
Alternative Uses
Best Use
Apartment 5plus
$423.7K
$370.8K – $494.3K
NOI $29,660 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $165,180 @ 7.0% cap · market cap 18.66%
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
27,619
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
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom layout includes a flexible additional room, updated finishes, and extensive storage.
Where is this residential income property located?
The property is located at 400 E 56TH Street 25F New York City, NY.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 948 SF one‑bedroom, 1.5‑bath Junior 4 residence; Flexible additional room for office or sleeping area; North and west exposures with open city and skyline views
