Residential Co-op Apartment with
New
For Sale
$1,395,000
400 E 56TH Street 34P, New York City, NY 10022
A flexible two-bedroom layout includes built-ins, ample storage, and room to configure a third bedroom.
Property Size1,395 SF
Price / SF$1,000
Days on Market5
Property Features for 400 E 56TH Street 34P
General Information
Standard status
Active
Size
1,395 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private balcony
renovated lobby
24-hour doorman
concierge
security desk
staffed package room
fitness center
yoga/stretching studio
laundry room
bicycle storage
live-in super
assistant super
heated outdoor pool
party/game room
playroom
rooftop lounge seating
pet-friendly
Building Details
Building Size
1,395 SF
Year Built
1969
Listing Agency:
Next Stop NY
Listed By:
Jeffrey Cohen
(914) 489-1450
Source:
Howardhannanyc
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 9 at 11:29PM
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.
This 1,395-square-foot co-op residence occupies the 34th floor of Plaza 400. Its two-bedroom, two-bathroom plan includes a large living and dining area that can be reconfigured to add a third bedroom. Southern and eastern exposures, floor-to-ceiling windows, and a private balcony provide views of the city and East River. The windowed galley kitchen has a Sub-Zero refrigerator and Wolf range and oven; the home also offers custom cabinetry, three walk-in closets, and two full bathrooms.
Building services and amenities include a 24-hour doorman, concierge, security desk, fitness center, yoga and stretching studio, laundry room, bicycle storage, and staffed package room. The rooftop includes a heated outdoor pool, city views, party or game room, playroom, and lounge seating. Utilities are included in the maintenance. Sutton Place Park, the East Midtown Greenway, grocery stores, restaurants, subway lines, and bus routes are nearby.
Building services and amenities include a 24-hour doorman, concierge, security desk, fitness center, yoga and stretching studio, laundry room, bicycle storage, and staffed package room. The rooftop includes a heated outdoor pool, city views, party or game room, playroom, and lounge seating. Utilities are included in the maintenance. Sutton Place Park, the East Midtown Greenway, grocery stores, restaurants, subway lines, and bus routes are nearby.
Key Highlights
- 1,395‑square‑foot residence on the 34th floor
- Two bedrooms and two full bathrooms; layout can accommodate a third bedroom
- Private balcony with southern and eastern exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,646
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$872,920
$872.9K
Cap Rate 7%
$623,514
$623.5K
Cap Rate 9%
$484,956
$485.0K
Market Conditions
NOI Build-Up for 1,395 SF
Gross rent
$83.5K $59.88/SF
− Vacancy
−$4.2K −$2.99/SF
EGI
$79.4K $56.89/SF
− OpEx
−$35.7K −$25.60/SF
NOI
$43.6K $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%
$872,920
Cap Rate 7%
$623,514
Cap Rate 9%
$484,956
Alternative Uses
Best Use
Apartment 5plus
$623.5K
$545.6K – $727.4K
NOI $43,646 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.47M
$3.04M – $4.05M
NOI $243,065 @ 7.0% cap · market cap 17.42%
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 - A flexible two-bedroom layout includes built-ins, ample storage, and room to configure a third bedroom.
Where is this residential income property located?
The property is located at 400 E 56TH Street 34P New York City, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 1,395‑square‑foot residence on the 34th floor; Two bedrooms and two full bathrooms; layout can accommodate a third bedroom; Private balcony with southern and eastern exposures
