Residential Income Property with City
425 E 58th Street 20E, Manhattan, NY 10022
For Sale
$2,400,000
Flexible layout includes a primary suite, private sitting room, and windowed kitchen with adjacent laundry area.
Property Size2,750 SF
Price / SF$872.73
Days on Market98
Property Features for 425 E 58th Street 20E
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Amenities
full-time 24/7 doorman
on-site resident manager
fitness center
personalized concierge mail service
on-site covered garage with 24/7 valet parking
EV chargers
large outdoor park and plaza
bicycle storage room
central air conditioning
pets welcome
Building Details
Building Size
Year Built
Stories
Listing Agency:
Sothebys International Realty
Listed By:
Maria Bazo
(212) 606-7660
Source:
Howardhannanyc
Added: Aug 2
Changed: Nov 5
Last Checked: Nov 6 at 6:00PM
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
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Investment Insights
Based on property information with market context.
This 2,750-square-foot residence occupies the 20th floor of The Sovereign and offers a flexible three-bedroom-plus-staff-room layout, currently arranged with two oversized bedrooms and a private sitting room. A 65-foot interior sequence connects the north-facing living room and balcony with the south-facing dining room. Custom bookcases, built-in cabinetry, wide-plank floors, recessed lighting, central air conditioning, individual thermostats, and extensive closet space are incorporated throughout. The primary suite includes a custom walk-in closet and renovated double marble bath, while the second bedroom has an ensuite bath. A windowed kitchen sits beside the laundry area, and the powder room retains plumbing for restoration as a bathroom.
The Sutton Place building rises 48 stories and contains 348 residences. Services and 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-a-terre use are permitted, with LLCs considered case by case.
The Sutton Place building rises 48 stories and contains 348 residences. Services and 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-a-terre use are permitted, with LLCs considered case by case.
Key Highlights
- 2,750 SF residence on the 20th floor of The Sovereign
- Flexible three‑bedroom‑plus‑staff‑room layout currently configured with two oversized bedrooms
- 65‑foot sequence from north‑facing living room and balcony to south‑facing dining room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,040
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
27,950
Businesses Nearby
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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
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - Flexible layout includes a primary suite, private sitting room, and windowed kitchen with adjacent laundry area.
Where is this residential income property located?
The property is located at 425 E 58th Street 20E Manhattan, 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: 2,750 SF residence on the 20th floor of The Sovereign; Flexible three‑bedroom‑plus‑staff‑room layout currently configured with two oversized bedrooms; 65‑foot sequence from north‑facing living room and balcony to south‑facing dining room
