Residential Income Property with Bonus
450 E 83rd Street 4H, Manhattan, NY 10028
For Sale
$1,285,000
Pending
Mint-condition 1-bedroom-plus home features a versatile bonus room, bright east-facing living space, and full condo services.
Property Size1,214 SF
Days on Market187
Property Features for 450 E 83rd Street 4H
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
24/7 lobby attendant
concierge
fitness center
children's playroom
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Bahar Tavakolian · License NY #10301202538
(917) 297-7067
Source:
Carlinwright
Added: May 7
Changed: Oct 31
Last Checked: Nov 8 at 11:54AM
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 Compass
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Investment Insights
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This mint-condition residence is a 1-bedroom plus a large bonus room, designed to function like a second bedroom. At 1,214 square feet, it includes soaring 11-foot ceilings and massive east-facing windows that bring in abundant natural light. The oversized bonus room shares the same ceiling height and proportions and can serve as a den, home office, guest room, or additional sleeping space.
The home’s expansive living room flows from a gracious entry gallery, leading to a chef’s kitchen outfitted with Wolf cooktop and wall ovens, a Sub-Zero refrigerator, Miele dishwasher, and a garbage disposal. The king-sized primary suite includes a large walk-in closet and an en-suite bath with a soaking tub and separate glass shower. A second full bath is finished in stone and tile with a glass shower and vessel sink. Additional features include rich hardwood floors, a full-size washer/dryer, and generous storage.
Set within The Cielo condominium, residents enjoy 24/7 lobby attendant and concierge services, a fitness center, children’s playroom, and an on-site garage with direct residential access. The property was built in 2005.
The home’s expansive living room flows from a gracious entry gallery, leading to a chef’s kitchen outfitted with Wolf cooktop and wall ovens, a Sub-Zero refrigerator, Miele dishwasher, and a garbage disposal. The king-sized primary suite includes a large walk-in closet and an en-suite bath with a soaking tub and separate glass shower. A second full bath is finished in stone and tile with a glass shower and vessel sink. Additional features include rich hardwood floors, a full-size washer/dryer, and generous storage.
Set within The Cielo condominium, residents enjoy 24/7 lobby attendant and concierge services, a fitness center, children’s playroom, and an on-site garage with direct residential access. The property was built in 2005.
Key Highlights
- 1,214 square feet with soaring 11‑foot ceilings and massive east‑facing windows
- Oversized bonus room with the same ceiling height, suited as den, office, guest room, or extra sleeping space
- Chef’s kitchen with Wolf cooktop and wall ovens, Sub‑Zero refrigerator, and Miele dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,983
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,660
$759.7K
Cap Rate 7%
$542,614
$542.6K
Cap Rate 9%
$422,033
$422.0K
Market Conditions
NOI Build-Up for 1,214 SF
Gross rent
$72.7K $59.88/SF
− Vacancy
−$3.6K −$2.99/SF
EGI
$69.1K $56.89/SF
− OpEx
−$31.1K −$25.60/SF
NOI
$38.0K $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 Rate 5%
$759,660
Cap Rate 7%
$542,614
Cap Rate 9%
$422,033
Alternative Uses
Best Use
Apartment 5plus
$542.6K
$474.8K – $633.1K
NOI $37,983 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$848.7K
$742.6K – $990.2K
NOI $59,411 @ 7.0% cap · market cap 4.62%
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
4,763
Businesses Nearby
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Business Placement
Demographics for 10028, NY
48,116
Population
29,535
Households
1.6
Avg Household Size
39
Median Age
83%
College-Educated
98%
High-School Grad
0.3 sq mi
ZIP Area
160,387
Density / Sq Mi
$168,125
Median Household Income
$116,860
Median Earnings
$2,702
Median Rent
$1,600,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Mint-condition 1-bedroom-plus home features a versatile bonus room, bright east-facing living space, and full condo services.
Where is this residential income property located?
The property is located at 450 E 83rd Street 4H Manhattan, NY.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 1,214 square feet with soaring 11‑foot ceilings and massive east‑facing windows; Oversized bonus room with the same ceiling height, suited as den, office, guest room, or extra sleeping space; Chef’s kitchen with Wolf cooktop and wall ovens, Sub‑Zero refrigerator, and Miele dishwasher
