Residential Income Property with Concierge
For Sale
$625,500
465 Park Avenue 9F, New York City, NY 10022
Turnkey one-bedroom residence with entertaining space, custom storage, and full-service cooperative amenities.
Property Size850 SF
Price / SF$735.88
Days on Market14
Property Features for 465 Park Avenue 9F
General Information
Standard status
Active
Size
850 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Building Details
Building Size
850 SF
Year Built
1926
Buildings
1
Listing Agency:
Compass
Listed By:
Anna Gula
(917) 853-1750
Source:
Carlinwright
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 22 at 9:49PM
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.
Residence 9F is an 850-square-foot residential income property at 465 Park Avenue in New York City. The one-bedroom, 1.5-bath layout includes an entry gallery, living room with north-facing windows, decorative fireplace, herringbone hardwood floors, built-in bar, and powder room. A concealed kitchenette provides an under-counter refrigerator, compact dishwasher, and two-burner induction cooktop. The bedroom suite adds a windowed marble bathroom, walk-in closet, and mirrored built-ins.
The property is located at Park Avenue and 57th Street, near Madison Avenue boutiques, Bloomingdale's, Central Park, and several named dining destinations. Ritz Tower services include a private chef, 24-hour concierge, doorman, porters, fitness center, room service, and housekeeping. Utilities, electricity, and water are included in monthly maintenance fees. The cooperative permits pied-a-terre ownership, foreign buyers, and purchases through trusts, LLCs, or corporate entities, subject to board approval.
The property is located at Park Avenue and 57th Street, near Madison Avenue boutiques, Bloomingdale's, Central Park, and several named dining destinations. Ritz Tower services include a private chef, 24-hour concierge, doorman, porters, fitness center, room service, and housekeeping. Utilities, electricity, and water are included in monthly maintenance fees. The cooperative permits pied-a-terre ownership, foreign buyers, and purchases through trusts, LLCs, or corporate entities, subject to board approval.
Key Highlights
- 850 SF one‑bedroom, 1.5‑bath residence at 465 Park Avenue 9F
- North‑facing living room with decorative fireplace and herringbone hardwood floors
- Windowed marble bathroom, walk‑in closet, and additional mirrored built‑ins
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
$26,594
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
4.25%
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%
$531,880
$531.9K
Cap Rate 7%
$379,914
$379.9K
Cap Rate 9%
$295,489
$295.5K
Market Conditions
NOI Build-Up for 850 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
$50.9K $59.88/SF
− Vacancy
−$2.5K −$2.99/SF
EGI
$48.4K $56.89/SF
− OpEx
−$21.8K −$25.60/SF
NOI
$26.6K $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%
$531,880
Cap Rate 7%
$379,914
Cap Rate 9%
$295,489
Alternative Uses
Best Use
Apartment 5plus
$379.9K
$332.4K – $443.2K
NOI $26,594 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,104 @ 7.0% cap · market cap 23.68%
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
49,964
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Turnkey one-bedroom residence with entertaining space, custom storage, and full-service cooperative amenities.
Where is this residential income property located?
The property is located at 465 Park Avenue 9F New York City, NY.
What is the asking price?
The asking price for this property is $625,500.
What are key features of this property?
This property features: 850 SF one‑bedroom, 1.5‑bath residence at 465 Park Avenue 9F; North‑facing living room with decorative fireplace and herringbone hardwood floors; Windowed marble bathroom, walk‑in closet, and additional mirrored built‑ins
