Renovated Residential Income
For Sale
$749,000
401 E 65th Street 13G, New York City, NY 10065
Renovated one-bedroom residence with a private office, updated kitchen, abundant storage, and full-service cooperative amenities.
Property Size958 SF
Price / SF$781.84
Days on Market16
Property Features for 401 E 65th Street 13G
General Information
Standard status
Active
Size
958 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman
live-in superintendent
fitness center
bike room
central laundry
roof deck
Building Details
Building Size
958 SF
Year Built
1962
Listing Agency:
Compass
Listed By:
Stephanie Rummani Rummani
(703) 568-6501
Source:
Nobleblackandpartners
Added: Sep 9
Changed: Sep 20
Last Checked: Sep 22 at 8:45PM
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 Compass
Investment Insights
Based on property information with market context.
This 958-SF one-bedroom residence includes a separate office enclosed by French doors, allowing the space to function as a private workspace or flexible additional room. The layout features an entry foyer, oversized coat closet, open living and dining area, renovated kitchen with white cabinetry, stainless steel appliances and pantry storage, plus a bedroom with a walk-in closet. Eastern and western exposures bring natural light and city views into the home, while the bathroom includes a bathtub and white vanity.
Built in 1962, 401 E 65th Street is a full-service cooperative with 24-hour doorman service, a live-in superintendent, fitness center, bike room, central laundry and updated common areas. The renovated roof deck overlooks the Manhattan skyline and East River. The building permits pets, pied-a-terres, co-purchasing, guarantors, gifting and subletting. Nearby transportation includes the F, Q, N, R, 4, 5 and 6 subway lines and the M66 bus.
Built in 1962, 401 E 65th Street is a full-service cooperative with 24-hour doorman service, a live-in superintendent, fitness center, bike room, central laundry and updated common areas. The renovated roof deck overlooks the Manhattan skyline and East River. The building permits pets, pied-a-terres, co-purchasing, guarantors, gifting and subletting. Nearby transportation includes the F, Q, N, R, 4, 5 and 6 subway lines and the M66 bus.
Key Highlights
- 958 SF one‑bedroom residence with separate French‑door office
- Renovated kitchen with stainless steel appliances and custom pantry storage
- Eastern and western exposures with city and East River views
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
$29,973
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
4.00%
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%
$599,460
$599.5K
Cap Rate 7%
$428,186
$428.2K
Cap Rate 9%
$333,033
$333.0K
Market Conditions
NOI Build-Up for 958 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
$57.4K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$54.5K $56.89/SF
− OpEx
−$24.5K −$25.60/SF
NOI
$30.0K $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%
$599,460
Cap Rate 7%
$428,186
Cap Rate 9%
$333,033
Alternative Uses
Best Use
Apartment 5plus
$428.2K
$374.7K – $499.6K
NOI $29,973 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,922 @ 7.0% cap · market cap 22.29%
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
31,376
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 - Renovated one-bedroom residence with a private office, updated kitchen, abundant storage, and full-service cooperative amenities.
Where is this residential income property located?
The property is located at 401 E 65th Street 13G New York City, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 958 SF one‑bedroom residence with separate French‑door office; Renovated kitchen with stainless steel appliances and custom pantry storage; Eastern and western exposures with city and East River views
