Loft-Style Residential Income
421 W 54TH Street 5F, Manhattan, NY 10019
For Sale
$1,095,000
Pending
Flexible home with abundant natural light, two full bathrooms, premium appliances, and access to full-service building amenities.
Property Size1,021 SF
Days on Market166
Property Features for 421 W 54TH Street 5F
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
part-time daily doorman
windowed gym
furnished rooftop deck
Building Details
Building Size
Year Built
Listing Agency:
Christies International Real Estate New York
Listed By:
Nancy Lorraine Baker
(917) 689-3737
Source:
Carlinwright
Added: May 28
Changed: Nov 7
Last Checked: Nov 8 at 1:40PM
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 Christies International Real Estate New York
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Investment Insights
Based on property information with market context.
Apartment 5F is a loft-like residence offering 1,021 SF with one formal bedroom, a separate flex room, and two full bathrooms. Ceilings exceeding 10 feet and large windows create an airy interior with partial views toward Midtown and Columbus Circle. The open kitchen includes a Sub-Zero refrigerator, Bosch and Miele stainless steel appliances, gray stone counters, and a breakfast bar. The primary suite features two closets and an ensuite bath with marble counters, double sinks, a soaking tub, and separate shower. An in-unit washer and dryer, additional storage, and a private storage unit add practical utility.
The Hit Factory Condominiums is a converted 1890 building with 27 residences. Building amenities include a part-time daily doorman, windowed gym, and furnished rooftop deck with northern and southern views. Nearby parking garages, retail, services, restaurants along Ninth Avenue, Columbus Circle, Central Park, Lincoln Center, and the Theater District complement the property’s Manhattan setting.
The Hit Factory Condominiums is a converted 1890 building with 27 residences. Building amenities include a part-time daily doorman, windowed gym, and furnished rooftop deck with northern and southern views. Nearby parking garages, retail, services, restaurants along Ninth Avenue, Columbus Circle, Central Park, Lincoln Center, and the Theater District complement the property’s Manhattan setting.
Key Highlights
- 1,021 SF loft‑like residence with one bedroom, separate flex room, and two full bathrooms
- Ceilings over 10 feet and large windows with partial Midtown and Columbus Circle views
- Open kitchen with Sub‑Zero, Bosch, and Miele appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,944
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,880
$638.9K
Cap Rate 7%
$456,343
$456.3K
Cap Rate 9%
$354,933
$354.9K
Market Conditions
NOI Build-Up for 1,021 SF
Gross rent
$61.1K $59.88/SF
− Vacancy
−$3.1K −$2.99/SF
EGI
$58.1K $56.89/SF
− OpEx
−$26.1K −$25.60/SF
NOI
$31.9K $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 Rate 5%
$638,880
Cap Rate 7%
$456,343
Cap Rate 9%
$354,933
Alternative Uses
Best Use
Apartment 5plus
$456.3K
$399.3K – $532.4K
NOI $31,944 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$713.8K
$624.6K – $832.8K
NOI $49,966 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
23,121
Businesses Nearby
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Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Flexible home with abundant natural light, two full bathrooms, premium appliances, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 421 W 54TH Street 5F Manhattan, NY.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 1,021 SF loft‑like residence with one bedroom, separate flex room, and two full bathrooms; Ceilings over 10 feet and large windows with partial Midtown and Columbus Circle views; Open kitchen with Sub‑Zero, Bosch, and Miele appliances
