Residential Income Property with Concierge
465 Park Avenue 9F, New York City, NY 10022
For Sale
$625,500
Turnkey one-bedroom residence with entertaining space, custom storage, and full-service cooperative amenities.
Property Size850 SF
Price / SF$735.88
Days on Market60
Property Features for 465 Park Avenue 9F
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Compass
Listed By:
Anna Gula · License #10401276797
(917) 853-1750
Source:
Carlinwright
Added: Sep 11
Changed: Oct 31
Last Checked: Nov 8 at 12:20PM
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
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 / Yr
$26,594
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
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
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 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
Office A
$594.3K
$520.0K – $693.3K
NOI $41,598 @ 7.0% cap · market cap 6.65%
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
49,964
Businesses Nearby
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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
$1,116,700
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
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
