Luxury Co-op One-Bedroom
For Sale
$750,000
475 PARK AVE, New York, NY 10022
Move-in ready one-bedroom co-op with renovated kitchen, large closets, and a fireplace in a full-service building.
Property Size897 SF
Price / SF$836.12
Days on Market198
Property Features for 475 PARK AVE
General Information
Standard status
Active
Size
897 SF
Property subtype
Apartment
Amenities
Hardwood
Dishwasher
Elevator, Unfurnished, High Ceiling
3
120.420000x92.000000
Building Details
Year Built
1908
Listing Agency:
(212) 913-9058
Listed By:
Compass
(914) 715-6802
Source:
Xome
Added: Jan 25
Changed: Aug 8
Last Checked: Aug 10 at 2:57AM
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.
Move-in ready one-bedroom, one-bath co-op residence offered in a full-service luxury building. The apartment features a renovated kitchen and a well-laid-out interior with a gracious entryway, generous closet space, and a decorative fireplace that can accommodate an electric fireplace. The home is described as oversized and is approximately 900 square feet.
The building is directly located on Park Avenue and is about two blocks from Central Park. Built in 1908 and reimagined in 1959 with simplex units, 475 Park is managed by a team that includes a 24-hour doorman, live-in resident manager, porter, handyman, and elevator person.
A storage unit conveys with the apartment. The remarks state up to 50% financing is allowed, and there is a 2% flip tax paid by the purchaser.
The building is directly located on Park Avenue and is about two blocks from Central Park. Built in 1908 and reimagined in 1959 with simplex units, 475 Park is managed by a team that includes a 24-hour doorman, live-in resident manager, porter, handyman, and elevator person.
A storage unit conveys with the apartment. The remarks state up to 50% financing is allowed, and there is a 2% flip tax paid by the purchaser.
Key Highlights
- Move‑in ready one‑bedroom, one‑bath co‑op on Park Avenue (approx. 900 SF).
- Brand new renovated kitchen with dishwasher; hardwood flooring throughout.
- Large closets and a gracious entryway; decorative fireplace that can accommodate an electric fireplace.
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
$28,065
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
3.74%
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%
$561,300
$561.3K
Cap Rate 7%
$400,929
$400.9K
Cap Rate 9%
$311,833
$311.8K
Market Conditions
NOI Build-Up for 897 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
$53.7K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$51.0K $56.89/SF
− OpEx
−$23.0K −$25.60/SF
NOI
$28.1K $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%
$561,300
Cap Rate 7%
$400,929
Cap Rate 9%
$311,833
Alternative Uses
Best Use
Apartment 5plus
$400.9K
$350.8K – $467.8K
NOI $28,065 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,293 @ 7.0% cap · market cap 20.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
52,828
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Move-in ready one-bedroom co-op with renovated kitchen, large closets, and a fireplace in a full-service building.
Where is this residential income property located?
The property is located at 475 PARK AVE New York, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Move‑in ready one‑bedroom, one‑bath co‑op on Park Avenue (approx. 900 SF).; Brand new renovated kitchen with dishwasher; hardwood flooring throughout.; Large closets and a gracious entryway; decorative fireplace that can accommodate an electric fireplace.
