Prewar Studio
For Sale
$349,000
400 E 59TH Street 3H, New York City, NY 10022
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 Market184
Property Features for 400 E 59TH Street 3H
General Information
Standard status
Active
Size
525 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Building Details
Building Size
525 SF
Year Built
1929
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Nicole Sobol · License #10401255721
(201) 240-7544
Source:
Bondnyre
Added: Apr 8
Changed: Oct 3
Last Checked: Oct 7 at 3:20PM
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
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
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,476 @ 7.0% cap · market cap 26.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 New York City, 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
