Prewar Studio
400 E 59TH Street 3H, Manhattan, NY 10022
For Sale
$349,000
The corner living area includes an open kitchen, while three walk-in closets add storage to the studio layout.
Property Size525 SF
Price / SF$664.76
Days on Market216
Property Features for 400 E 59TH Street 3H
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Building Details
Building Size
Year Built
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Nicole Sobol · License NY #10401255721
(201) 240-7544
Source:
Bondnyre
Added: Apr 8
Changed: Nov 8
Last Checked: Nov 8 at 12:38PM
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 Douglas Elliman Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 525-square-foot studio is in a full-service cooperative built in 1929. Its corner living area has southern and eastern windows, an open kitchen with a dining bar, and three walk-in closets. The kitchen includes a Miele oven, Summit refrigerator and wine refrigerator, and Fisher & Paykel dishwasher. Interior details include herringbone oak floors, a bathroom with Kohler fixtures, original prewar elements, and through-wall air conditioning. Electricity, heat, and hot water are included.
The apartment is at 400 E 59th Street in Manhattan. Trader Joe’s is on the same block, and Whole Foods is two blocks away. The 4, 5, and 6 subway lines are nearby, with Q and F service also accessible in the area.
The apartment is at 400 E 59th Street in Manhattan. Trader Joe’s is on the same block, and Whole Foods is two blocks away. The 4, 5, and 6 subway lines are nearby, with Q and F service also accessible in the area.
Key Highlights
- 525‑square‑foot studio in a 1929 full‑service cooperative
- Corner living area with southern and eastern windows
- Open kitchen with dining bar, Miele oven, Summit refrigerator and wine refrigerator, and Fisher & Paykel dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,426
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,520
$328.5K
Cap Rate 7%
$234,657
$234.7K
Cap Rate 9%
$182,511
$182.5K
Market Conditions
NOI Build-Up for 525 SF
Gross rent
$31.4K $59.88/SF
− Vacancy
−$1.6K −$2.99/SF
EGI
$29.9K $56.89/SF
− OpEx
−$13.4K −$25.60/SF
NOI
$16.4K $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%
$328,520
Cap Rate 7%
$234,657
Cap Rate 9%
$182,511
Alternative Uses
Best Use
Apartment 5plus
$234.7K
$205.3K – $273.8K
NOI $16,426 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.0K
$321.2K – $428.2K
NOI $25,693 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
29,944
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
$1,116,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - The corner living area includes an open kitchen, while three walk-in closets add storage to the studio layout.
Where is this residential income property located?
The property is located at 400 E 59TH Street 3H Manhattan, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 525‑square‑foot studio in a 1929 full‑service cooperative; Corner living area with southern and eastern windows; Open kitchen with dining bar, Miele oven, Summit refrigerator and wine refrigerator, and Fisher & Paykel dishwasher
