Residential Income Property with 31A
For Sale
$2,600,000
425 E 58TH Street 31A, New York City, NY 10022
North-facing living room and balcony, plus a totally renovated windowed kitchen with custom cabinetry and porcelain finishes.
Property Size2,400 SF
Price / SF$1,083
Days on Market379
Property Features for 425 E 58TH Street 31A
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
lobby level gym
24 hr. valet garage
bike room
private storage
park like gardens
washer and dryer
year round A/C
Building Details
Building Size
2,400 SF
Year Built
1975
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 906-9325
Listed By:
Jessica G Ushan
(212) 906-9325
Source:
Nobleblackandpartners
Added: Jul 29, 2025
Changed: Jul 30
Last Checked: Aug 10 at 9:46AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
Enter this light-filled residence through a marble gallery leading to a north-facing living room and balcony, and a south-facing formal dining room with views of the city skyline. The windowed kitchen has been totally renovated with blue and white custom cabinetry and porcelain floors and backsplash, including an additional prep sink and a washer and dryer.
The primary bedroom features a luxurious bath with a large walk-in shower, with abundant closets throughout the home. There are two additional bedrooms and baths plus a powder room, and nine-foot ceilings throughout. New tilt and turn windows enhance the move-in ready layout on the 31st floor of The Sovereign.
The building is a renowned post-war cooperative designed by Emery Roth and Sons and offers park-like gardens, seating, and an International Style lobby with original materials and distinctive chandeliers. Building amenities include a lobby level gym, 24-hour valet garage, on-site management, bike room, and private storage. Year-round A/C is provided with individual controls in each room. The Board permits pets (up to two dogs), and pied-a-terre, as well as purchases in a Trust and LLCs, are permitted with Board approval. The Sovereign was built in 1975.
The primary bedroom features a luxurious bath with a large walk-in shower, with abundant closets throughout the home. There are two additional bedrooms and baths plus a powder room, and nine-foot ceilings throughout. New tilt and turn windows enhance the move-in ready layout on the 31st floor of The Sovereign.
The building is a renowned post-war cooperative designed by Emery Roth and Sons and offers park-like gardens, seating, and an International Style lobby with original materials and distinctive chandeliers. Building amenities include a lobby level gym, 24-hour valet garage, on-site management, bike room, and private storage. Year-round A/C is provided with individual controls in each room. The Board permits pets (up to two dogs), and pied-a-terre, as well as purchases in a Trust and LLCs, are permitted with Board approval. The Sovereign was built in 1975.
Key Highlights
- South and north exposures with skyline views, including views of the Chrysler Building
- Totally renovated windowed kitchen with blue and white custom cabinetry plus porcelain floors and backsplash
- Nine‑foot ceilings and new tilt and turn windows
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
$75,090
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
2.89%
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%
$1,501,800
$1.5M
Cap Rate 7%
$1,072,714
$1.1M
Cap Rate 9%
$834,333
$834.3K
Market Conditions
NOI Build-Up for 2,400 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
$143.7K $59.88/SF
− Vacancy
−$7.2K −$2.99/SF
EGI
$136.5K $56.89/SF
− OpEx
−$61.4K −$25.60/SF
NOI
$75.1K $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%
$1,501,800
Cap Rate 7%
$1,072,714
Cap Rate 9%
$834,333
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$938.6K – $1.25M
NOI $75,090 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.97M
$5.23M – $6.97M
NOI $418,176 @ 7.0% cap · market cap 16.08%
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 - North-facing living room and balcony, plus a totally renovated windowed kitchen with custom cabinetry and porcelain finishes.
Where is this residential income property located?
The property is located at 425 E 58TH Street 31A New York City, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: South and north exposures with skyline views, including views of the Chrysler Building; Totally renovated windowed kitchen with blue and white custom cabinetry plus porcelain floors and backsplash; Nine‑foot ceilings and new tilt and turn windows
