Residential Income Property with City
For Sale
$2,400,000
425 E 58th Street 20E, New York City, NY 10022
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 Market349
Property Features for 425 E 58th Street 20E
General Information
Standard status
Active
Size
2,750 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
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
2,750 SF
Year Built
1974
Stories
48
Listing Agency:
Sothebys International Realty
(212) 606-7660
Listed By:
Maria Bazo
(212) 606-7660
Source:
Howardhannanyc
Added: Aug 28, 2025
Changed: Aug 3
Last Checked: Aug 10 at 9:43AM
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.
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 = 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
$86,040
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
3.59%
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%
$1,720,800
$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
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
$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 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%
$1,720,800
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.
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 - 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 New York City, 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
