Two-Bedroom Residential Income
For Sale
$895,000
436 W 47TH Street 1B, New York City, NY 10036
Floor-through apartment with two full bathrooms, a private backyard, pre-war character, and a flexible home-office option.
Property Size1,050 SF
Price / SF$852.38
Days on Market20
Property Features for 436 W 47TH Street 1B
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private garden
bike storage
storage units
full-time super
pet-friendly
in-unit laundry
Building Details
Building Size
1,050 SF
Year Built
1901
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Siim M Hanja · License #30HA0955568
(917) 743-6786
Source:
Bondnyre
Added: Sep 5
Changed: Sep 23
Last Checked: Sep 22 at 10:43PM
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 floor-through two-bedroom apartment includes two full bathrooms and a split-bedroom arrangement. The front primary suite has an en-suite bath and walk-in closet, while the rear bedroom or home office faces south and includes a laundry closet. Interior details include high ceilings, refinished hardwood floors, decorative fireplaces, exposed brick, and a living room with direct backyard access.
The central kitchen is equipped with stainless steel appliances, granite countertops, and substantial cabinet storage. A second bath includes a deep soaking tub. The residence is part of a well-maintained, pet-friendly co-op comprising two buildings and 20 units, with bike storage, individual storage units, and a full-time superintendent. The property is located between 9th and 10th Avenues in Hell’s Kitchen, near restaurants, bars, shopping, the Theatre District, Times Square, the Hudson River, and public transportation.
The central kitchen is equipped with stainless steel appliances, granite countertops, and substantial cabinet storage. A second bath includes a deep soaking tub. The residence is part of a well-maintained, pet-friendly co-op comprising two buildings and 20 units, with bike storage, individual storage units, and a full-time superintendent. The property is located between 9th and 10th Avenues in Hell’s Kitchen, near restaurants, bars, shopping, the Theatre District, Times Square, the Hudson River, and public transportation.
Key Highlights
- Two‑bedroom floor‑through apartment with two full bathrooms
- Private backyard accessed directly from the living room
- Primary bedroom includes en‑suite bath and walk‑in closet
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
$32,852
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
3.67%
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%
$657,040
$657.0K
Cap Rate 7%
$469,314
$469.3K
Cap Rate 9%
$365,022
$365.0K
Market Conditions
NOI Build-Up for 1,050 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
$62.9K $59.88/SF
− Vacancy
−$3.1K −$2.99/SF
EGI
$59.7K $56.89/SF
− OpEx
−$26.9K −$25.60/SF
NOI
$32.9K $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%
$657,040
Cap Rate 7%
$469,314
Cap Rate 9%
$365,022
Alternative Uses
Best Use
Apartment 5plus
$469.3K
$410.7K – $547.5K
NOI $32,852 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.61M
$2.29M – $3.05M
NOI $182,952 @ 7.0% cap · market cap 20.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
28,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 10036, NY
33,868
Population
22,473
Households
1.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
84,670
Density / Sq Mi
$100,225
Median Household Income
$86,122
Median Earnings
$2,301
Median Rent
$988,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Floor-through apartment with two full bathrooms, a private backyard, pre-war character, and a flexible home-office option.
Where is this residential income property located?
The property is located at 436 W 47TH Street 1B New York City, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two‑bedroom floor‑through apartment with two full bathrooms; Private backyard accessed directly from the living room; Primary bedroom includes en‑suite bath and walk‑in closet
