Residential Income Property with Private
New
For Sale
$2,495,000
410 E 57th Street PHAB, New York City, NY 10022
A one-bedroom layout features a glass-enclosed solarium and direct terrace access from every room.
Property Size3,053 SF
Price / SF$817.23
Days on Market4
Property Features for 410 E 57th Street PHAB
General Information
Standard status
Active
Size
3,053 SF
Property subtype
Apartment
Building Details
Building Size
3,053 SF
Year Built
1929
Listing Agency:
Compass
Listed By:
Robert Varvara
(914) 844-4940
Source:
Bondnyre
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 1:44PM
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 one-bedroom residence includes more than 1,400 square feet of private terrace space. French doors connect each room to the outdoor areas, while a glass-enclosed solarium divides the layout and terrace exposures. The home requires comprehensive renovation. The property is in a full-service prewar cooperative designed in 1928 by Schwartz & Gross and built in 1929.
Building services and amenities include a full-time doorman, elevator operator, live-in resident manager, fitness center, central laundry, and private garden. The address is in Sutton Place, near dining, specialty grocers, and parks.
Building services and amenities include a full-time doorman, elevator operator, live-in resident manager, fitness center, central laundry, and private garden. The address is in Sutton Place, near dining, specialty grocers, and parks.
Key Highlights
- More than 1,400 square feet of private terrace space
- One‑bedroom residence with French doors opening from every room to the terrace
- Glass‑enclosed solarium separates the terrace exposures
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
$95,520
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
3.83%
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%
$1,910,400
$1.9M
Cap Rate 7%
$1,364,571
$1.4M
Cap Rate 9%
$1,061,333
$1.1M
Market Conditions
NOI Build-Up for 3,053 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
$182.8K $59.88/SF
− Vacancy
−$9.1K −$2.99/SF
EGI
$173.7K $56.89/SF
− OpEx
−$78.2K −$25.60/SF
NOI
$95.5K $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%
$1,910,400
Cap Rate 7%
$1,364,571
Cap Rate 9%
$1,061,333
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,520 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.60M
$6.65M – $8.87M
NOI $531,955 @ 7.0% cap · market cap 21.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,733
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
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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom layout features a glass-enclosed solarium and direct terrace access from every room.
Where is this residential income property located?
The property is located at 410 E 57th Street PHAB New York City, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: More than 1,400 square feet of private terrace space; One‑bedroom residence with French doors opening from every room to the terrace; Glass‑enclosed solarium separates the terrace exposures
