Two-Bedroom Residential Income
New
For Sale
$860,000
400 E 56TH Street 5R, Manhattan, NY 10022
A flexible floor plan pairs a convertible second bedroom with a private balcony and a windowed kitchen.
Property Size1,098 SF
Price / SF$783.24
Days on Market6
Property Features for 400 E 56TH Street 5R
General Information
Standard status
Active
Size
1,098 SF
Property subtype
Apartment
Building Details
Building Size
1,098 SF
Year Built
1969
Listing Agency:
Coldwell Banker Warburg
Listed By:
Andrea Blumenthal
(917) 224-6999
Source:
Carytamura
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 30 at 8:21PM
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 Coldwell Banker Warburg
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Investment Insights
Based on property information with market context.
This Plaza 400 apartment is arranged as a two-bedroom, one-and-a-half-bath residence, with the option to restore the former dining area. Sliding pocket doors separate that room, which has a closet and a wall of windows. The living and dining area features parquet flooring, crown moldings, soffit lighting, and glass doors opening to a private balcony. A windowed kitchen has stone countertops, a pantry, and stainless steel appliances; the primary bedroom includes a full bath and a large closet. The apartment has south and west exposures and was built in 1969.
Building amenities include a rooftop pool, Sky Top Lounge, fitness center with yoga and stretching studio, laundry facilities, bicycle storage, concierge, and a children's playroom. The building also has a 24-hour doorman, on-site security, and live-in superintendent and assistant superintendents. Pets, pieds-à-terre, co-purchasing, guarantors, and purchases by parents for children are permitted. Monthly maintenance includes utilities.
Building amenities include a rooftop pool, Sky Top Lounge, fitness center with yoga and stretching studio, laundry facilities, bicycle storage, concierge, and a children's playroom. The building also has a 24-hour doorman, on-site security, and live-in superintendent and assistant superintendents. Pets, pieds-à-terre, co-purchasing, guarantors, and purchases by parents for children are permitted. Monthly maintenance includes utilities.
Key Highlights
- Configured with two bedrooms and 1.5 baths; former dining area can be restored
- Private balcony with south and west exposures
- Windowed kitchen with stone counters, pantry, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,353
Cap Rate
3.99%
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 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,316 @ 7.0% cap · market cap 22.25%
Zoning and permitted uses should be independently verified with authorities.
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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 - A flexible floor plan pairs a convertible second bedroom with a private balcony and a windowed kitchen.
Where is this residential income property located?
The property is located at 400 E 56TH Street 5R Manhattan, NY.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Configured with two bedrooms and 1.5 baths; former dining area can be restored; Private balcony with south and west exposures; Windowed kitchen with stone counters, pantry, and stainless steel appliances
