One-Bedroom Residential Income
For Sale
$1,200,000
425 E 58TH Street 8F, New York City, NY 10022
Full-service cooperative residence with renovated windowed kitchen, abundant closets, and north- and east-facing exposures.
Property Size1,400 SF
Price / SF$857.14
Days on Market559
Property Features for 425 E 58TH Street 8F
General Information
Standard status
Active
Size
1,400 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Amenities
24-hour doorman
concierge
on-site management
valet parking garage with Tesla charging stations
fitness center
park-like gardens
pet-friendly
washer/dryer
Building Details
Year Built
1975
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 906-9325
Listed By:
Jessica G Ushan
(212) 906-9325
Source:
Howardhannanyc
Added: Jan 29, 2025
Changed: Aug 10
Last Checked: Aug 10 at 8:33AM
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.
This residential income property is a one-bedroom, one-and-a-half-bath cooperative residence at The Sovereign. The approximately 1400 sq. ft. home includes an entry gallery, living room, windowed dining area, renovated windowed kitchen, primary suite, powder room, and separate service entrance. Granite countertops, custom cabinetry, a washer and dryer, multiple closets, and an en-suite marble bath with both a tub and stall shower are part of the interior. Brand new tilt-and-turn windows, 9-foot ceilings, and northern and eastern exposures bring natural light throughout the residence.
The Sovereign is a full-service cooperative with two apartments per floor, 24-hour doorman and concierge coverage, attended elevators, on-site management, valet parking, Tesla charging stations, a windowed fitness center, and surrounding gardens. The building also permits up to two dogs and allows trust, LLC, and guarantor purchases with board approval. Its address is 425 E 58TH Street 8F, New York City, NY 10022, near the East River Promenade, parks, Whole Foods, and Trader Joe's.
The Sovereign is a full-service cooperative with two apartments per floor, 24-hour doorman and concierge coverage, attended elevators, on-site management, valet parking, Tesla charging stations, a windowed fitness center, and surrounding gardens. The building also permits up to two dogs and allows trust, LLC, and guarantor purchases with board approval. Its address is 425 E 58TH Street 8F, New York City, NY 10022, near the East River Promenade, parks, Whole Foods, and Trader Joe's.
Key Highlights
- Approximately 1400 sq. ft. one‑bedroom, one‑and‑a‑half‑bath cooperative residence
- Renovated windowed kitchen with granite counters, custom cabinetry, washer and dryer
- 9‑foot ceilings with north and east exposures
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
3.65%
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 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.48M
$3.05M – $4.07M
NOI $243,936 @ 7.0% cap · market cap 20.33%
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 - Full-service cooperative residence with renovated windowed kitchen, abundant closets, and north- and east-facing exposures.
Where is this residential income property located?
The property is located at 425 E 58TH Street 8F New York City, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 1400 sq. ft. one‑bedroom, one‑and‑a‑half‑bath cooperative residence; Renovated windowed kitchen with granite counters, custom cabinetry, washer and dryer; 9‑foot ceilings with north and east exposures
