Renovated Two-Family
For Sale
$2,785,000
425 CONVENT Avenue, Manhattan, NY 10031
A separate garden-level residence adds rental flexibility, while the upper floors provide a substantial primary residence.
Property Size3,740 SF
Price / SF$744.65
Days on Market50
Property Features for 425 CONVENT Avenue
General Information
Standard status
Active
Size
3,740 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$38,400
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,400
Amenities
chef's kitchen
dining deck
marble spa bath
washer/dryer
walk-in closets
decorative fireplace
private garden
Building Details
Building Size
3,740 SF
Year Built
1901
Year Renovated
2017
Buildings
1
Construction
brownstone
Tenancy
Single
Listing Agency:
Corcoran Group
Listed By:
Christopher V Cavorti · License #10301206385
(914) 804-7091
Source:
Miradorrealestate
Added: Sep 18
Changed: Nov 4
Last Checked: Nov 4 at 1:23PM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
This 3,740-square-foot, two-family brownstone dates to 1901 and received renovations in 2013 and 2017. The main residence spans the upper floors, with a parlor level featuring ceilings over 11 feet, original woodwork, a kitchen with Thermador Professional appliances, and access to a dining deck and private garden. The second floor contains a primary suite with a marble bath, walk-in closets, washer and dryer, and decorative fireplace; two more bedrooms and a renovated bath occupy the level above.
At garden level, a one-bedroom apartment of approximately 800 square feet has its own private garden, decorative fireplace, storage, and high ceilings. The property is on Convent Avenue in the Hamilton Heights/Sugar Hill Historic District. Nearby transit includes the A, B, C, and D trains at 145th Street and the 1 train along Broadway.
At garden level, a one-bedroom apartment of approximately 800 square feet has its own private garden, decorative fireplace, storage, and high ceilings. The property is on Convent Avenue in the Hamilton Heights/Sugar Hill Historic District. Nearby transit includes the A, B, C, and D trains at 145th Street and the 1 train along Broadway.
Key Highlights
- 3,740‑square‑foot two‑family brownstone built in 1901
- Renovations completed in 2013 and 2017
- Parlor‑level ceilings measure more than 11 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,575
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,500
$2.5M
Cap Rate 7%
$1,808,214
$1.8M
Cap Rate 9%
$1,406,389
$1.4M
Market Conditions
NOI Build-Up for 3,740 SF
Gross rent
$190.7K $51.00/SF
− Vacancy
−$9.9K −$2.65/SF
EGI
$180.8K $48.35/SF
− OpEx
−$54.2K −$14.50/SF
NOI
$126.6K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,500
Cap Rate 7%
$1,808,214
Cap Rate 9%
$1,406,389
Alternative Uses
Best Use
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,575 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $117,015 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$9.31M
$8.15M – $10.86M
NOI $651,658 @ 7.0% cap · market cap 23.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,132
Businesses Nearby
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Business Placement
Demographics for 10031, NY
56,363
Population
24,110
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
79%
High-School Grad
0.7 sq mi
ZIP Area
80,519
Density / Sq Mi
$65,067
Median Household Income
$41,149
Median Earnings
$1,787
Median Rent
$678,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate garden-level residence adds rental flexibility, while the upper floors provide a substantial primary residence.
Where is this duplex located?
The property is located at 425 CONVENT Avenue Manhattan, NY.
What is the asking price?
The asking price for this property is $2,785,000.
What are key features of this property?
This property features: 3,740‑square‑foot two‑family brownstone built in 1901; Renovations completed in 2013 and 2017; Parlor‑level ceilings measure more than 11 feet
