Residential Income Property with City
For Sale
$2,350,000
425 E 58th Street 21E, New York City, NY 10022
High-floor residence offers three bedroom suites, flexible office space, and a balcony.
Property Size2,750 SF
Days on Market378
Property Features for 425 E 58th Street 21E
General Information
Standard status
Active
Size
2,750 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/4BA
Multifamily Units
1
Amenities
full-time 24/7 doorman
on-site resident manager and management team
fitness center
personalized concierge mail service
on-site covered garage with 24/7 valet parking including EV chargers
large outdoor park and plaza
bicycle storage room
central a/c
herringbone hardwood floors
Building Details
Building Size
2,750 SF
Year Built
1974
Stories
48
Listing Agency:
Sothebys International Realty
Listed By:
Maria Bazo
(212) 606-7660
Source:
Tricialee
Added: Aug 28, 2025
Changed: Sep 8
Last Checked: Sep 8 at 11:05AM
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 21st-floor residence features three bedroom suites, each with an ensuite marble bath, along with a windowed staff room or home office and a fourth full bathroom. A gallery leads to a 65-foot interior expanse connecting the formal dining room and living room, while the living room opens to a balcony and an adjacent bedroom currently configured as part of the living space. The home also includes a windowed kitchen, laundry area, herringbone hardwood floors, central a/c with separate thermostats, custom closets, and southern, northern, and western exposures.
The building rises 48 stories and contains 348 residences. Services and amenities include a full-time 24/7 doorman, resident manager, concierge mail service, fitness center, covered garage with 24/7 valet parking and EV chargers, outdoor park and plaza, bicycle storage, and on-site management. The neighboring apartment, 21F, is also available and shares the semi-private landing.
The building rises 48 stories and contains 348 residences. Services and amenities include a full-time 24/7 doorman, resident manager, concierge mail service, fitness center, covered garage with 24/7 valet parking and EV chargers, outdoor park and plaza, bicycle storage, and on-site management. The neighboring apartment, 21F, is also available and shares the semi-private landing.
Key Highlights
- 21st‑floor residence with southern, northern, and western exposures
- Three bedroom suites with ensuite marble baths
- 65‑foot interior expanse connecting formal dining and living rooms
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
3.66%
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 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.85M
$5.99M – $7.99M
NOI $479,160 @ 7.0% cap · market cap 20.39%
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 - High-floor residence offers three bedroom suites, flexible office space, and a balcony.
Where is this residential income property located?
The property is located at 425 E 58th Street 21E New York City, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 21st‑floor residence with southern, northern, and western exposures; Three bedroom suites with ensuite marble baths; 65‑foot interior expanse connecting formal dining and living rooms
