High-Floor Residential Income
For Sale
$1,450,000
425 E 58th Street 21F, New York City, NY 10022
One-bedroom, one-and-a-half-bath residence with skyline views, updated windows, central air, and in-unit laundry.
Property Size1,400 SF
Price / SF$1,035
Days on Market349
Property Features for 425 E 58th Street 21F
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Amenities
24/7 doorman
on-site resident manager
fitness center
concierge mail service
covered garage with valet parking
EV charging
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:
Howardhannanyc
Added: Aug 28, 2025
Changed: Aug 5
Last Checked: Aug 5 at 6:05AM
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 1,400-square-foot residence occupies the 21st floor of a 48-story cooperative completed in 1974. The one-bedroom, one-and-a-half-bath layout includes a foyer gallery with custom bookcases, a large living and dining area, a windowed kitchen, and a bedroom with generous closet space. The en-suite marble bathroom offers both a soaking tub and separate stall shower. Nine-foot ceilings, new tilt-and-turn windows, central air-conditioning with individual room thermostats, a Bosch washer/dryer, and extensive storage add to the apartment’s functionality. The powder room is currently used as a storage closet and retains its original plumbing.
Building amenities include a full-time 24/7 doorman, resident manager, fitness center, concierge mail service, and covered garage parking with 24/7 valet service and EV chargers. The property also includes an outdoor park and plaza. The residence features North and East exposures with views toward the Manhattan skyline, East River, and Queensboro Bridge. The building contains 348 residences and provides access to the 59th Street Bridge, dining, shopping, Trader Joe’s, and Home Depot.
Building amenities include a full-time 24/7 doorman, resident manager, fitness center, concierge mail service, and covered garage parking with 24/7 valet service and EV chargers. The property also includes an outdoor park and plaza. The residence features North and East exposures with views toward the Manhattan skyline, East River, and Queensboro Bridge. The building contains 348 residences and provides access to the 59th Street Bridge, dining, shopping, Trader Joe’s, and Home Depot.
Key Highlights
- 21st‑floor residence with North and East exposures
- 1,400‑square‑foot one‑bedroom, one‑and‑a‑half‑bath layout
- Views of the Manhattan skyline, East River, and Queensboro Bridge
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
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 - One-bedroom, one-and-a-half-bath residence with skyline views, updated windows, central air, and in-unit laundry.
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 residence with North and East exposures; 1,400‑square‑foot one‑bedroom, one‑and‑a‑half‑bath layout; Views of the Manhattan skyline, East River, and Queensboro Bridge
