Residential Income Property with
New
For Sale
$808,900
400 E 56TH Street 18R, Manhattan, NY 10022
The apartment combines a flexible living and dining area with a private outdoor space and separate kitchen.
Property Size1,098 SF
Price / SF$736.70
Days on Market3
Property Features for 400 E 56TH Street 18R
General Information
Standard status
Active
Size
1,098 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
24-hour doorman
fitness center
yoga studio
laundry
bicycle storage
concierge
package room
rooftop pool
party room
game room
playroom
Building Details
Building Size
1,098 SF
Year Built
1969
Listing Agency:
Next Stop NY
Listed By:
Jeffrey Cohen
(914) 489-1450
Source:
Carytamura
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 3:47PM
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
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Investment Insights
Based on property information with market context.
This 1,098-square-foot co-op apartment at Plaza 400 has a living and dining area with a dedicated alcove that can serve as a second bedroom or enclosed office. The primary bedroom accommodates a king-sized bed and workspace. Five closets, one full bathroom, a powder room, a separate kitchen with a west-facing window, and a private balcony complete the layout. The apartment was built in 1969 and is being sold in as-is condition. South and southwest exposures provide views of the East River and Manhattan landmarks, including the Empire State Building, Chrysler Building, and One Vanderbilt.
Building services and shared facilities include a 24-hour doorman, concierge, fitness center, yoga and stretching studio, laundry, bicycle storage, and staffed package room. The rooftop has a heated outdoor pool, a party or game room, and a playroom. Nearby destinations include Sutton Place Park and the East River Greenway, each approximately 0.2 miles away. Subway service includes the E, M, 6, and Q lines, with bus service on First Avenue, Second Avenue, and the M57 route.
Building services and shared facilities include a 24-hour doorman, concierge, fitness center, yoga and stretching studio, laundry, bicycle storage, and staffed package room. The rooftop has a heated outdoor pool, a party or game room, and a playroom. Nearby destinations include Sutton Place Park and the East River Greenway, each approximately 0.2 miles away. Subway service includes the E, M, 6, and Q lines, with bus service on First Avenue, Second Avenue, and the M57 route.
Key Highlights
- 1,098‑square‑foot co‑op apartment with a private balcony
- Living and dining area includes an alcove that can be configured as a second bedroom or enclosed office
- Five closets, one full bathroom, and a powder room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,353
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$687,060
$687.1K
Cap Rate 7%
$490,757
$490.8K
Cap Rate 9%
$381,700
$381.7K
Market Conditions
NOI Build-Up for 1,098 SF
Gross rent
$65.7K $59.88/SF
− Vacancy
−$3.3K −$2.99/SF
EGI
$62.5K $56.89/SF
− OpEx
−$28.1K −$25.60/SF
NOI
$34.4K $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%
$687,060
Cap Rate 7%
$490,757
Cap Rate 9%
$381,700
Alternative Uses
Best Use
Apartment 5plus
$490.8K
$429.4K – $572.6K
NOI $34,353 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,316 @ 7.0% cap · market cap 23.65%
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 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 - The apartment combines a flexible living and dining area with a private outdoor space and separate kitchen.
Where is this residential income property located?
The property is located at 400 E 56TH Street 18R Manhattan, NY.
What is the asking price?
The asking price for this property is $808,900.
What are key features of this property?
This property features: 1,098‑square‑foot co‑op apartment with a private balcony; Living and dining area includes an alcove that can be configured as a second bedroom or enclosed office; Five closets, one full bathroom, and a powder room
