Prewar Residential Income
For Sale
$1,350,000
439 E 51ST Street 7B, New York City, NY 10022
Flexible seven-room residence with two bedrooms, a home office, study, and two full baths.
Property Size1,800 SF
Price / SF$750
Days on Market8
Property Features for 439 E 51ST Street 7B
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Apartment
Amenities
wood-burning fireplace
24-hour doorman
live-in superintendent
fitness room
central laundry
hand-delivered mail
private storage
Building Details
Building Size
1,800 SF
Year Built
1925
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Ghislaine Absy
(212) 906-9243
Source:
Cbwarburg
Added: Aug 28
Changed: Sep 2
Last Checked: Sep 2 at 1:24AM
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.
Apartment 7B is an approximately 1,800-square-foot, seven-room residence in a 1925 prewar cooperative. The layout includes two full bedrooms, a separate home office, a study or TV room that can provide additional bedroom flexibility, a formal dining room, windowed kitchen, and two full baths. Herringbone floors, a wood-burning fireplace, and fresh paint add to the apartment’s architectural character, while views extend toward the East River and Beekman Place.
The building occupies a quiet cul-de-sac in the Beekman Place enclave and offers a 24-hour doorman, live-in superintendent, fitness room, central laundry, hand-delivered mail, and private storage. Peter Detmold Park and the East River waterfront are nearby, with the East Midtown Greenway a few blocks away. Pets and pied-à-terres are permitted, and financing of up to 65% is allowed. The seller pays a 2% flip tax.
The building occupies a quiet cul-de-sac in the Beekman Place enclave and offers a 24-hour doorman, live-in superintendent, fitness room, central laundry, hand-delivered mail, and private storage. Peter Detmold Park and the East River waterfront are nearby, with the East Midtown Greenway a few blocks away. Pets and pied-à-terres are permitted, and financing of up to 65% is allowed. The seller pays a 2% flip tax.
Key Highlights
- Approximately 1,800‑square‑foot seven‑room residence
- Two full bedrooms plus a separate home office and study/TV room
- Herringbone floors and wood‑burning fireplace
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
$56,317
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
4.17%
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%
$1,126,340
$1.1M
Cap Rate 7%
$804,529
$804.5K
Cap Rate 9%
$625,744
$625.7K
Market Conditions
NOI Build-Up for 1,800 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
$107.8K $59.88/SF
− Vacancy
−$5.4K −$2.99/SF
EGI
$102.4K $56.89/SF
− OpEx
−$46.1K −$25.60/SF
NOI
$56.3K $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%
$1,126,340
Cap Rate 7%
$804,529
Cap Rate 9%
$625,744
Alternative Uses
Best Use
Apartment 5plus
$804.5K
$704.0K – $938.6K
NOI $56,317 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.48M
$3.92M – $5.23M
NOI $313,632 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,011
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 - Flexible seven-room residence with two bedrooms, a home office, study, and two full baths.
Where is this residential income property located?
The property is located at 439 E 51ST Street 7B New York City, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 1,800‑square‑foot seven‑room residence; Two full bedrooms plus a separate home office and study/TV room; Herringbone floors and wood‑burning fireplace
