Flexible Cooperative Apartment
For Sale
$600,000
410 57TH ST, New York, NY 10022
Single unit accessed via private street entrance and vestibule, offering four rooms and 9'3" ceilings in a cooperative.
Property Size826 SF
Price / SF$726.39
Days on Market212
Property Features for 410 57TH ST
General Information
Standard status
Active
Size
826 SF
Property subtype
Apartment
Additional Details
Clear Height
9 ft
Amenities
Hardwood
3
Unfurnished, Elevator
117.25 x 100.42
Building Details
Year Built
1929
Listing Agency:
Sothebys International Realty
(212) 606-7660
Listed By:
Lawrence Treglia
(212) 606-7660
Source:
Xome
Added: Jan 10
Changed: Aug 8
Last Checked: Aug 10 at 2:48AM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
Offered for the first time in over 40 years, this cooperative unit features a private street entrance through a vestibule and a flexible interior layout. The space includes four well-proportioned rooms, with soaring 9'3" ceilings that add a sense of openness throughout. At present it can be accessed as a standalone unit, with the option to combine with the adjacent apartment to create a residence with two private entrances.
The property is part of a well-established, full-service cooperative known for its strong sense of community. Co-op financing allows up to 50% financing, and the cooperative applies a 2% flip tax on the purchase price, payable by either party.
The unit is listed as approximately 826 square feet and is identified as Unit 1A at 410 E 57th St.
The property is part of a well-established, full-service cooperative known for its strong sense of community. Co-op financing allows up to 50% financing, and the cooperative applies a 2% flip tax on the purchase price, payable by either party.
The unit is listed as approximately 826 square feet and is identified as Unit 1A at 410 E 57th St.
Key Highlights
- Single co‑op unit accessed via a private street entrance through a vestibule
- 4‑room layout with approximately 826 sq ft and 9'3" ceilings
- Hardwood flooring throughout
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
$25,843
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
4.31%
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%
$516,860
$516.9K
Cap Rate 7%
$369,186
$369.2K
Cap Rate 9%
$287,144
$287.1K
Market Conditions
NOI Build-Up for 826 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
$49.5K $59.88/SF
− Vacancy
−$2.5K −$2.99/SF
EGI
$47.0K $56.89/SF
− OpEx
−$21.1K −$25.60/SF
NOI
$25.8K $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%
$516,860
Cap Rate 7%
$369,186
Cap Rate 9%
$287,144
Alternative Uses
Best Use
Apartment 5plus
$369.2K
$323.0K – $430.7K
NOI $25,843 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $143,922 @ 7.0% cap · market cap 23.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
Location Intelligence
Trade Area within ½ mile
39,600
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 - Single unit accessed via private street entrance and vestibule, offering four rooms and 9'3" ceilings in a cooperative.
Where is this residential income property located?
The property is located at 410 57TH ST New York, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Single co‑op unit accessed via a private street entrance through a vestibule; 4‑room layout with approximately 826 sq ft and 9'3" ceilings; Hardwood flooring throughout
