Top-Floor Corner Residential Income
448 E 88TH Street 5A, Manhattan, NY 10128
For Sale
$535,000
Renovated one-bedroom co-op with in-unit laundry, pre-war character, and subletting permitted after two years of occupancy.
Property Size550 SF
Price / SF$972.73
Days on Market61
Property Features for 448 E 88TH Street 5A
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Amenities
hardwood floors
decorative fireplace
stainless-steel appliances
microwave
in-unit washer/dryer
laminated closets
remodeled bathroom
high ceilings
windows in every room
Building Details
Building Size
Year Built
Listing Agency:
Corcoran Group
Listed By:
Santiago J Steele · License #30ST1047700 (NY)
(917) 686-2023
Source:
Carytamura
Added: Sep 8
Changed: Nov 7
Last Checked: Nov 6 at 3:36PM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
Apartment 5A is a 550-square-foot, top-floor corner residence in a 15-unit co-op completed in 1920. The one-bedroom layout includes north- and east-facing exposures, windows in each room, hardwood flooring, and a living room with a decorative fireplace. A separate updated kitchen contains stainless-steel appliances and a microwave, while the apartment also offers an in-unit washer/dryer, two bedroom closets, and a remodeled full bathroom. High ceilings and pre-war details complement the renovations.
The property is located on a quiet Yorkville block between First and York Avenues, near neighborhood restaurants and cafés, Carl Schurz Park, the East River Esplanade, Whole Foods, and the Q, 4, 5, and 6 trains. A tenant is in place through December 31, 2026. Co-op rules allow unlimited subletting after two years of occupancy.
The property is located on a quiet Yorkville block between First and York Avenues, near neighborhood restaurants and cafés, Carl Schurz Park, the East River Esplanade, Whole Foods, and the Q, 4, 5, and 6 trains. A tenant is in place through December 31, 2026. Co-op rules allow unlimited subletting after two years of occupancy.
Key Highlights
- 550 SF top‑floor corner one‑bedroom co‑op
- North and east exposures with windows in every room
- Renovated separate kitchen with stainless‑steel appliances and microwave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,172
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,440
$343.4K
Cap Rate 7%
$245,314
$245.3K
Cap Rate 9%
$190,800
$190.8K
Market Conditions
NOI Build-Up for 550 SF
Gross rent
$32.9K $59.88/SF
− Vacancy
−$1.7K −$3.11/SF
EGI
$31.2K $56.77/SF
− OpEx
−$14.0K −$25.54/SF
NOI
$17.2K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,440
Cap Rate 7%
$245,314
Cap Rate 9%
$190,800
Alternative Uses
Best Use
Apartment 5plus
$245.3K
$214.7K – $286.2K
NOI $17,172 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$391.1K
$342.2K – $456.2K
NOI $27,374 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
13,422
Businesses Nearby
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Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated one-bedroom co-op with in-unit laundry, pre-war character, and subletting permitted after two years of occupancy.
Where is this residential income property located?
The property is located at 448 E 88TH Street 5A Manhattan, NY.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 550 SF top‑floor corner one‑bedroom co‑op; North and east exposures with windows in every room; Renovated separate kitchen with stainless‑steel appliances and microwave
