High-Floor One-Bedroom Co-Op
For Sale
$1,450,000
425 E 58th Street 21F, New York City, NY 10022
High-floor one-bedroom, one-and-a-half-bath home with north and east exposures, central air, and a windowed kitchen.
Property Size1,400 SF
Days on Market349
Property Features for 425 E 58th Street 21F
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Apartment
Amenities
24/7 doorman
on-site resident manager
fitness center
personalized concierge mail service
on-site covered garage with 24/7 valet parking including EV chargers
large outdoor park and plaza
Building Details
Building Size
1,400 SF
Year Built
1974
Stories
48
Listing Agency:
Sothebys International Realty
(212) 606-7660
Listed By:
Maria Bazo
(212) 606-7660
Source:
Serhant
Added: Aug 28, 2025
Changed: Aug 8
Last Checked: Aug 10 at 9:36AM
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.
Perched on the 21st floor of The Sovereign co-op at Sutton Place, this sophisticated one-bedroom, one-and-a-half-bath residence features a gracious foyer gallery with custom bookcases and an expansive living and dining area. Walls of brand-new tilt-and-turn windows frame open north and east exposures, creating an exceptionally bright interior. Ceilings rise to nine feet for added volume and scale.
A windowed kitchen sits just off the living room for an easy flow while keeping the spaces distinct. The generously scaled bedroom is accessed through pocket doors and includes abundant closet space, plus an en-suite marble bath with a soaking tub and separate stall shower. A powder room is currently configured as a storage closet, retaining its original plumbing for straightforward restoration.
The home also includes a Bosch washer/dryer in the kitchen and central air-conditioning with individual thermostats in every room. The Sovereign offers full-time 24/7 doorman service, an on-site resident manager and management team, a fitness center, personalized concierge mail service, and an on-site covered garage with 24/7 valet parking including EV chargers. The building sits among a large outdoor park and plaza and has 348 residences in a 48-story tower.
A windowed kitchen sits just off the living room for an easy flow while keeping the spaces distinct. The generously scaled bedroom is accessed through pocket doors and includes abundant closet space, plus an en-suite marble bath with a soaking tub and separate stall shower. A powder room is currently configured as a storage closet, retaining its original plumbing for straightforward restoration.
The home also includes a Bosch washer/dryer in the kitchen and central air-conditioning with individual thermostats in every room. The Sovereign offers full-time 24/7 doorman service, an on-site resident manager and management team, a fitness center, personalized concierge mail service, and an on-site covered garage with 24/7 valet parking including EV chargers. The building sits among a large outdoor park and plaza and has 348 residences in a 48-story tower.
Key Highlights
- 21st‑floor one‑bedroom, one‑and‑a‑half‑bath layout in The Sovereign co‑op
- North and east exposures with brand‑new tilt‑and‑turn windows
- Nine‑foot ceilings in an expansive living and dining area
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
$43,802
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
3.02%
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%
$876,040
$876.0K
Cap Rate 7%
$625,743
$625.7K
Cap Rate 9%
$486,689
$486.7K
Market Conditions
NOI Build-Up for 1,400 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
$83.8K $59.88/SF
− Vacancy
−$4.2K −$2.99/SF
EGI
$79.6K $56.89/SF
− OpEx
−$35.8K −$25.60/SF
NOI
$43.8K $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%
$876,040
Cap Rate 7%
$625,743
Cap Rate 9%
$486,689
Alternative Uses
Best Use
Apartment 5plus
$625.7K
$547.5K – $730.0K
NOI $43,802 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.48M
$3.05M – $4.07M
NOI $243,936 @ 7.0% cap · market cap 16.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 one-bedroom, one-and-a-half-bath home with north and east exposures, central air, and a windowed kitchen.
Where is this residential income property located?
The property is located at 425 E 58th Street 21F New York City, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 21st‑floor one‑bedroom, one‑and‑a‑half‑bath layout in The Sovereign co‑op; North and east exposures with brand‑new tilt‑and‑turn windows; Nine‑foot ceilings in an expansive living and dining area
