Full-Floor Potential Apartment
For Sale
$2,400,000
425 58th St, New York, NY 10022
High-floor residence with nine-foot ceilings, central air, and three bedrooms plus a staff room.
Property Size2,750 SF
Price / SF$872.73
Days on Market441
Property Features for 425 58th St
General Information
Standard status
Active
Size
2,750 SF
Property subtype
Apartment
Additional Details
Clear Height
9 ft
Multifamily Units
348
Amenities
Central Air
Hardwood
Dryer, Washer, Stacked Washer/Dryer, Dishwasher
3
Elevator
Balcony
Water, City
386.67 x 200.83
Garden.
Building Details
Year Built
1974
Stories
48
Listing Agency:
Sothebys International Realty
(212) 606-7660
Listed By:
Maria Bazo
(212) 606-7660
Source:
Xome
Added: May 28, 2025
Changed: Aug 8
Last Checked: Aug 10 at 3:19AM
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.
This high-floor apartment is positioned on the 20th level and features nine-foot ceilings and an expansive interior layout. The home includes three bedrooms plus a staff room, with the current configuration offering two oversized bedrooms. The primary suite features recently installed windows, a large custom walk-in closet, and a newly renovated double marble bathroom, along with a contiguous bedroom that has been adapted into a private sitting room. A second bedroom offers a large walk-in closet and an ensuite bath. The windowed kitchen includes an adjacent laundry area, and a powder room currently used as a walk-in closet has plumbing intact to restore it as a bathroom. Light wide-plank floors, recessed lighting, and central air conditioning with individual thermostats support a warm, contemporary feel.
The building dates to 1975 and rises 48 stories, with 348 residences and a semi-private landing. Amenities include a full-time 24/7 doorman, an on-site resident manager and management team, a fitness center, concierge services, and an on-site covered garage with 24/7 valet parking, including EV chargers. Outdoors, the property offers a large park and plaza, along with bicycle storage and a pet-friendly policy.
The neighboring 20F apartment, which shares the semi-private landing, is also available for sale, creating the possibility of combining into a full-floor residence.
The building dates to 1975 and rises 48 stories, with 348 residences and a semi-private landing. Amenities include a full-time 24/7 doorman, an on-site resident manager and management team, a fitness center, concierge services, and an on-site covered garage with 24/7 valet parking, including EV chargers. Outdoors, the property offers a large park and plaza, along with bicycle storage and a pet-friendly policy.
The neighboring 20F apartment, which shares the semi-private landing, is also available for sale, creating the possibility of combining into a full-floor residence.
Key Highlights
- 20th‑floor residence with panoramic water and city views (south, north, and west) and a balcony
- 9‑foot ceilings and an expansive 65‑foot gallery layout with three bedrooms plus a staff room
- Central air with individual thermostats; wide‑plank light wood floors and recessed lighting 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
$86,040
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
3.59%
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%
$1,720,800
$1.7M
Cap Rate 7%
$1,229,143
$1.2M
Cap Rate 9%
$956,000
$956.0K
Market Conditions
NOI Build-Up for 2,750 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
$164.7K $59.88/SF
− Vacancy
−$8.2K −$2.99/SF
EGI
$156.4K $56.89/SF
− OpEx
−$70.4K −$25.60/SF
NOI
$86.0K $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%
$1,720,800
Cap Rate 7%
$1,229,143
Cap Rate 9%
$956,000
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,040 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.85M
$5.99M – $7.99M
NOI $479,160 @ 7.0% cap · market cap 19.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
348
Residential units
Location Intelligence
Trade Area within ½ mile
7,042
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 - High-floor residence with nine-foot ceilings, central air, and three bedrooms plus a staff room.
Where is this residential income property located?
The property is located at 425 58th St New York, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 20th‑floor residence with panoramic water and city views (south, north, and west) and a balcony; 9‑foot ceilings and an expansive 65‑foot gallery layout with three bedrooms plus a staff room; Central air with individual thermostats; wide‑plank light wood floors and recessed lighting throughout
