Two-Bedroom Residential Income
New
For Sale
$1,285,000
401 E 60TH Street 4K, New York City, NY 10065
Full-service condominium residence with two bedrooms, two bathrooms, hardwood floors, and in-unit laundry.
Property Size1,215 SF
Price / SF$1,057
Days on Market3
Property Features for 401 E 60TH Street 4K
General Information
Standard status
Active
Size
1,215 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24 hour door staff
on site superintendent
fitness center
playroom
private residents' roof deck
in unit washer/dryer
Building Details
Building Size
1,215 SF
Year Built
1999
Listing Agency:
Corcoran Group
Listed By:
Haley Burns · License #10401349852 (NY)
(646) 689-3002
Source:
Nilelundgren
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:08PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 1,215-square-foot condominium residence at 401 E 60TH Street includes two bedrooms and two bathrooms. The layout features an entry foyer, oversized living and dining area, pass-through kitchen, and hardwood flooring throughout. Stainless steel appliances, granite countertops, windowed bathrooms, and an in-unit washer/dryer add functional detail. The primary bedroom has north and east exposures, while the second bedroom faces south and east.
Built in 1999, Bridge Tower provides full-service condominium amenities including 24-hour door staff, an on-site superintendent, fitness center, playroom, and private residents’ roof deck. The property is across from Trader Joe’s and offers access to Whole Foods, Bloomingdale’s, dining and shopping, multiple subway lines, the East River Esplanade, and Central Park.
Built in 1999, Bridge Tower provides full-service condominium amenities including 24-hour door staff, an on-site superintendent, fitness center, playroom, and private residents’ roof deck. The property is across from Trader Joe’s and offers access to Whole Foods, Bloomingdale’s, dining and shopping, multiple subway lines, the East River Esplanade, and Central Park.
Key Highlights
- 1,215‑square‑foot condominium residence
- Two bedrooms and two bathrooms
- Stainless steel appliances and granite kitchen countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$760,280
$760.3K
Cap Rate 7%
$543,057
$543.1K
Cap Rate 9%
$422,378
$422.4K
Market Conditions
NOI Build-Up for 1,215 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$72.8K $59.88/SF
− Vacancy
−$3.6K −$2.99/SF
EGI
$69.1K $56.89/SF
− OpEx
−$31.1K −$25.60/SF
NOI
$38.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$760,280
Cap Rate 7%
$543,057
Cap Rate 9%
$422,378
Alternative Uses
Best Use
Apartment 5plus
$543.1K
$475.2K – $633.6K
NOI $38,014 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.02M
$2.65M – $3.53M
NOI $211,702 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 10065, NY
32,891
Population
22,734
Households
1.4
Avg Household Size
40
Median Age
86%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
82,228
Density / Sq Mi
$160,938
Median Household Income
$121,212
Median Earnings
$2,828
Median Rent
$1,368,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Full-service condominium residence with two bedrooms, two bathrooms, hardwood floors, and in-unit laundry.
Where is this residential income property located?
The property is located at 401 E 60TH Street 4K New York City, NY.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 1,215‑square‑foot condominium residence; Two bedrooms and two bathrooms; Stainless steel appliances and granite kitchen countertops
