Studio Residential Income
For Sale
$595,000
420 Central Park W 3-A, New York City, NY 10025
Studio condominium with flexible living zones, generous storage, and investor-friendly rental eligibility.
Property Size534 SF
Price / SF$1,114
Days on Market194
Property Features for 420 Central Park W 3-A
General Information
Standard status
Active
Size
534 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,061
Amenities
24-hr doorman
live-in super
laundry
bike room
private storage
pet friendly
Building Details
Building Size
534 SF
Year Built
1938
Listing Agency:
EXP Realty NYC
(917) 346-7511
Listed By:
MELODY SWEENEY
(917) 346-7511
Source:
Miradorrealestate
Added: Feb 11
Changed: Aug 23
Last Checked: Aug 24 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 EXP Realty NYC
Investment Insights
Based on property information with market context.
This studio condominium offers 534 square feet with a practical arrangement that separates living, sleeping, and home office areas. South-facing windows bring natural light into the residence, while abundant closet space includes a walk-in closet. An elevated dining area with wrought iron handrails adds definition to the interior layout.
The property is at 420 Central Park W in New York City, directly along Central Park and one block from C/B subway and bus service. Whole Foods Market, Starbucks, Bareburger, Chipotle, and additional shops are nearby. Building services and amenities include a 24-hour doorman, live-in superintendent, laundry facilities, bike room, private storage, and a pet-friendly policy. Immediate rentals are permitted subject to condo approval, with no rental restrictions stated.
The property is at 420 Central Park W in New York City, directly along Central Park and one block from C/B subway and bus service. Whole Foods Market, Starbucks, Bareburger, Chipotle, and additional shops are nearby. Building services and amenities include a 24-hour doorman, live-in superintendent, laundry facilities, bike room, private storage, and a pet-friendly policy. Immediate rentals are permitted subject to condo approval, with no rental restrictions stated.
Key Highlights
- 534 SF studio condominium with separated living, sleeping, and home office areas
- South‑facing windows and abundant closet space, including a walk‑in closet
- Elevated dining area with wrought iron handrails
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
$17,578
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
2.95%
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%
$351,560
$351.6K
Cap Rate 7%
$251,114
$251.1K
Cap Rate 9%
$195,311
$195.3K
Market Conditions
NOI Build-Up for 534 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
$33.6K $63.00/SF
− Vacancy
−$1.7K −$3.15/SF
EGI
$32.0K $59.85/SF
− OpEx
−$14.4K −$26.93/SF
NOI
$17.6K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /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%
$351,560
Cap Rate 7%
$251,114
Cap Rate 9%
$195,311
Alternative Uses
Best Use
Apartment 5plus
$251.1K
$219.7K – $293.0K
NOI $17,578 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,640 @ 7.0% cap · market cap 24.81%
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
11,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Studio condominium with flexible living zones, generous storage, and investor-friendly rental eligibility.
Where is this residential income property located?
The property is located at 420 Central Park W 3-A New York City, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 534 SF studio condominium with separated living, sleeping, and home office areas; South‑facing windows and abundant closet space, including a walk‑in closet; Elevated dining area with wrought iron handrails
