Full-Service Cooperative
For Sale
$1,200,000
425 58TH ST, New York, NY 10022
Oversized one-bedroom with 1.5 baths, renovated kitchen, in-unit washer and dryer, and wraparound north/east light.
Property Size1,400 SF
Price / SF$857.14
Days on Market568
Property Features for 425 58TH ST
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Apartment
Additional Details
Clear Height
9 ft
Amenities
A/C - Other
3
River, City, Bridge View
Building Details
Year Built
1975
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 906-9234
Listed By:
Jessica Ushan
(212) 906-9325
Source:
Xome
Added: Jan 20, 2025
Changed: Aug 8
Last Checked: Aug 10 at 3:10AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
Residence 8F is a spacious one-bedroom, one-and-a-half-bath cooperative home at The Sovereign, featuring wraparound exposures to the north and east and soaring 9-foot ceilings. The apartment includes recently outfitted brand new tilt-and-turn windows and an entry gallery flowing into a generous living room and adjacent windowed dining area. The renovated windowed kitchen offers granite countertops, custom cabinetry, a washer and dryer, and a separate service entrance with an attended service elevator.
The expansive primary bedroom provides open views and multiple closets, including a large walk-in, plus an en-suite marble bath with a separate tub and stall shower. A well-proportioned powder room off the gallery adds guest convenience.
The Sovereign is a mid-century Emery Roth & Sons building with privacy and two apartments per floor, supported by 24-hour doorman, concierge, and sentry service and on-site management. Amenities include valet parking with Tesla charging, a windowed fitness center, manicured park-like gardens, and a pet-friendly policy (up to two dogs permitted). The building permits Trust, LLC, and guarantor purchases with board approval.
The expansive primary bedroom provides open views and multiple closets, including a large walk-in, plus an en-suite marble bath with a separate tub and stall shower. A well-proportioned powder room off the gallery adds guest convenience.
The Sovereign is a mid-century Emery Roth & Sons building with privacy and two apartments per floor, supported by 24-hour doorman, concierge, and sentry service and on-site management. Amenities include valet parking with Tesla charging, a windowed fitness center, manicured park-like gardens, and a pet-friendly policy (up to two dogs permitted). The building permits Trust, LLC, and guarantor purchases with board approval.
Key Highlights
- Oversized approx 1,400 SF 1‑bedroom with 1.5 baths at The Sovereign cooperative
- Renovated windowed kitchen with granite countertops, custom cabinetry, and in‑unit washer/dryer
- Wraparound north and east exposures with 9‑foot ceilings for abundant natural light
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
$43,802
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
3.65%
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%
$876,040
$876.0K
Cap Rate 7%
$625,743
$625.7K
Cap Rate 9%
$486,689
$486.7K
Market Conditions
NOI Build-Up for 1,400 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
$83.8K $59.88/SF
− Vacancy
−$4.2K −$2.99/SF
EGI
$79.6K $56.89/SF
− OpEx
−$35.8K −$25.60/SF
NOI
$43.8K $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%
$876,040
Cap Rate 7%
$625,743
Cap Rate 9%
$486,689
Alternative Uses
Best Use
Apartment 5plus
$625.7K
$547.5K – $730.0K
NOI $43,802 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.48M
$3.05M – $4.07M
NOI $243,936 @ 7.0% cap · market cap 20.33%
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
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 - Oversized one-bedroom with 1.5 baths, renovated kitchen, in-unit washer and dryer, and wraparound north/east light.
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 $1,200,000.
What are key features of this property?
This property features: Oversized approx 1,400 SF 1‑bedroom with 1.5 baths at The Sovereign cooperative; Renovated windowed kitchen with granite countertops, custom cabinetry, and in‑unit washer/dryer; Wraparound north and east exposures with 9‑foot ceilings for abundant natural light
