Residential Income Property with Bonus
For Sale
$1,285,000
Pending
450 E 83rd Street 4H, New York City, NY 10028
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 Market155
Property Features for 450 E 83rd Street 4H
General Information
Standard status
Pending
Size
1,214 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$20,601
Amenities
24/7 lobby attendant
concierge
fitness center
children's playroom
Building Details
Building Size
1,214 SF
Year Built
2005
Listing Agency:
Compass
Listed By:
Bahar Tavakolian
(917) 297-7067
Source:
Carlinwright
Added: May 7
Changed: Sep 25
Last Checked: Oct 7 at 3:32PM
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
Investment Insights
Based on property information with market context.
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
Specialty Retail
$3.02M
$2.64M – $3.53M
NOI $211,527 @ 7.0% cap · market cap 16.46%
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
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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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 New York City, 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
