High-Floor Residential Income
For Sale
$1,350,000
425 58TH ST, New York, NY 10022
One-bedroom cooperative residence with skyline and East River views, custom storage, central air, and a windowed kitchen.
Property Size1,400 SF
Price / SF$964.29
Days on Market455
Property Features for 425 58TH ST
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Apartment
Amenities
Central Air
Hardwood
Dryer, Stacked Washer/Dryer, Dishwasher, Washer
3
Elevator
Balcony
Water, City
386.67 x 200.83
Garden.
Building Details
Year Built
1974
Listing Agency:
Sothebys International Realty
(212) 606-7660
Listed By:
Maria Bazo
Source:
Xome
Added: Jun 11, 2025
Changed: Sep 2
Last Checked: Sep 8 at 4:27AM
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.
Residence 20F occupies the 20th floor of The Sovereign, a 48-story cooperative building in Sutton Place. The one-bedroom, one-and-a-half-bath layout includes a foyer gallery with custom bookcases, a large living and dining area, a separate windowed kitchen, and a bedroom with custom closets, built-in vanity, and en-suite marble bath with soaking tub. Nine-foot ceilings, new tilt-and-turn windows, central air-conditioning with individual room thermostats, a Bosch washer/dryer, hardwood, and extensive storage are among the interior features.
Building amenities include a full-time 24/7 doorman, resident manager, fitness center, concierge mail service, covered garage with 24/7 valet parking and EV chargers, outdoor park and plaza, and bicycle storage. Pets, trusts, guarantors, and pied-à-terre use are permitted, while LLCs are considered case by case. The property is near the 59th Street Bridge, dining, shopping, Trader Joe’s, and Home Depot. Apartment 20E across the hall is also offered for sale and may be combined with this residence.
Building amenities include a full-time 24/7 doorman, resident manager, fitness center, concierge mail service, covered garage with 24/7 valet parking and EV chargers, outdoor park and plaza, and bicycle storage. Pets, trusts, guarantors, and pied-à-terre use are permitted, while LLCs are considered case by case. The property is near the 59th Street Bridge, dining, shopping, Trader Joe’s, and Home Depot. Apartment 20E across the hall is also offered for sale and may be combined with this residence.
Key Highlights
- 20th‑floor residence with Manhattan skyline, East River, and Queensboro Bridge views
- One‑bedroom, one‑and‑a‑half‑bath cooperative layout with 1,400 property size
- Nine‑foot ceilings and brand‑new tilt‑and‑turn windows with North and East 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
$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
3.24%
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 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.48M
$3.05M – $4.07M
NOI $243,936 @ 7.0% cap · market cap 18.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27,950
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 - One-bedroom cooperative residence with skyline and East River views, custom storage, central air, and a windowed kitchen.
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 $1,350,000.
What are key features of this property?
This property features: 20th‑floor residence with Manhattan skyline, East River, and Queensboro Bridge views; One‑bedroom, one‑and‑a‑half‑bath cooperative layout with 1,400 property size; Nine‑foot ceilings and brand‑new tilt‑and‑turn windows with North and East exposures
