Residential Income Property with Private
For Sale
$2,000,000
425 E 58TH Street 14D, New York City, NY 10022
South-facing living room opens to a private balcony; unit includes in-unit washer/dryer and zone-controlled HVAC.
Property Size2,400 SF
Price / SF$833.33
Days on Market676
Property Features for 425 E 58TH Street 14D
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Apartment
Units
Unit Mix
1 x Classic 6
Multifamily Units
1
Amenities
balcony
in-unit washer/dryer
year-round zone-controlled HVAC
gallery with built-in wet bar
24-hour doorman
concierge
sentry
on-site management
valet parking with Tesla charging stations
windowed fitness center
manicured gardens
pet-friendly policy
Building Details
Building Size
2,400 SF
Year Built
1975
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 906-9325
Listed By:
Jessica G Ushan
(212) 906-9325
Source:
Tricialee
Added: Oct 6, 2024
Changed: Aug 8
Last Checked: Aug 11 at 12:43PM
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.
This Classic 6 cooperative apartment offers approximately 2,400 square feet of sophisticated living with a grand, oversized foyer and a sweeping 65-foot expanse designed for entertaining. The south-facing living room features a private balcony, and the home includes a formal dining room. Nine-foot ceilings and gallery walls provide an art-friendly setting.
The windowed, eat-in kitchen is equipped with top-tier appliances, including a Viking range and hood, Sub-Zero refrigerator, and Bosch dishwasher, plus in-unit washer/dryer. A versatile staff room with its own bath adds flexibility as a third bedroom, home office, den, or gym. The primary suite is filled with natural light from corner windows facing North and East and includes an en-suite marble bath and generous closet space.
Year-round, zone-controlled HVAC supports comfortable living throughout the home. The Sovereign building is described as designed by Emery Roth & Sons, with only two apartments per floor, and amenities including 24-hour doorman, concierge, and sentry, on-site management, valet parking with Tesla charging stations, and a state-of-the-art windowed fitness center. Year built is 1975.
The windowed, eat-in kitchen is equipped with top-tier appliances, including a Viking range and hood, Sub-Zero refrigerator, and Bosch dishwasher, plus in-unit washer/dryer. A versatile staff room with its own bath adds flexibility as a third bedroom, home office, den, or gym. The primary suite is filled with natural light from corner windows facing North and East and includes an en-suite marble bath and generous closet space.
Year-round, zone-controlled HVAC supports comfortable living throughout the home. The Sovereign building is described as designed by Emery Roth & Sons, with only two apartments per floor, and amenities including 24-hour doorman, concierge, and sentry, on-site management, valet parking with Tesla charging stations, and a state-of-the-art windowed fitness center. Year built is 1975.
Key Highlights
- Approximately 2,400 square feet Classic 6 cooperative residence
- Sweeping 65‑foot expanse with south‑facing living room and private balcony
- Nine‑foot ceilings and gallery walls
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
$75,090
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
3.75%
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%
$1,501,800
$1.5M
Cap Rate 7%
$1,072,714
$1.1M
Cap Rate 9%
$834,333
$834.3K
Market Conditions
NOI Build-Up for 2,400 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
$143.7K $59.88/SF
− Vacancy
−$7.2K −$2.99/SF
EGI
$136.5K $56.89/SF
− OpEx
−$61.4K −$25.60/SF
NOI
$75.1K $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%
$1,501,800
Cap Rate 7%
$1,072,714
Cap Rate 9%
$834,333
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$938.6K – $1.25M
NOI $75,090 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.97M
$5.23M – $6.97M
NOI $418,176 @ 7.0% cap · market cap 20.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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 - South-facing living room opens to a private balcony; unit includes in-unit washer/dryer and zone-controlled HVAC.
Where is this residential income property located?
The property is located at 425 E 58TH Street 14D New York City, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Approximately 2,400 square feet Classic 6 cooperative residence; Sweeping 65‑foot expanse with south‑facing living room and private balcony; Nine‑foot ceilings and gallery walls
