Residential Income Property with
48 E 132nd Street #1C, New York City, NY 10037
For Sale
$699,000
The multi-level condominium includes a private patio, a flexible lower level, and separate access to each floor.
Property Size1,047 SF
Days on Market18
Property Features for 48 E 132nd Street #1C
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Amenities
virtual doorman
resident lounge
24-hour fitness center
yoga area
bike storage
pet spa
private storage for purchase
landscaped garden
Building Details
Building Size
Year Built
Stories
Listing Agency:
Compass
Listed By:
Gregory D Mire · License NY 30MI1000085
(917) 232-4458
Source:
Moravilla.kw
Added: Oct 23
Changed: Nov 8
Last Checked: Oct 30 at 10:54AM
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 2015-built, two-bedroom, 1.5-bath condominium spans more than 1,000 square feet, with an additional 200 square feet of private outdoor space. The main level has wide-plank oak floors, an open kitchen with Summit, Blomberg, GE, and Bosch appliances, and a living area that opens onto the patio. Upstairs, the south-facing primary bedroom includes a walk-in closet. The lower level, updated with custom molding, is arranged as a media room and home office, with a separate entrance, Bosch washer/dryer, and a bathroom roughed in for a tub or shower. The layout also allows the lower space to serve as a second bedroom, guest suite, playroom, or fitness area.
The Style is a 31-unit condominium across two connected buildings. Shared amenities include a landscaped garden, resident lounge, 24-hour fitness center and yoga area, bike storage, pet spa, and virtual doorman service for packages. The residence is minutes from the 2, 3, 4, 5, and 6 trains. Musette, Red Rooster, Whole Foods, Trader Joe’s, and Target are within walking distance. A nearby 24-hour parking garage offers monthly rates. Monthly taxes reflect a 17.5% tax abatement.
The Style is a 31-unit condominium across two connected buildings. Shared amenities include a landscaped garden, resident lounge, 24-hour fitness center and yoga area, bike storage, pet spa, and virtual doorman service for packages. The residence is minutes from the 2, 3, 4, 5, and 6 trains. Musette, Red Rooster, Whole Foods, Trader Joe’s, and Target are within walking distance. A nearby 24-hour parking garage offers monthly rates. Monthly taxes reflect a 17.5% tax abatement.
Key Highlights
- Two‑bedroom, 1.5‑bath condominium with more than 1,000 square feet of interior space
- Private patio and lower outdoor area provide 200 square feet of outdoor space
- Lower level has a separate entrance, Bosch washer/dryer, and bathroom rough‑in for a tub or shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,758
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,160
$655.2K
Cap Rate 7%
$467,971
$468.0K
Cap Rate 9%
$363,978
$364.0K
Market Conditions
NOI Build-Up for 1,047 SF
Gross rent
$62.7K $59.88/SF
− Vacancy
−$3.1K −$2.99/SF
EGI
$59.6K $56.89/SF
− OpEx
−$26.8K −$25.60/SF
NOI
$32.8K $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%
$655,160
Cap Rate 7%
$467,971
Cap Rate 9%
$363,978
Alternative Uses
Best Use
Apartment 5plus
$468.0K
$409.5K – $546.0K
NOI $32,758 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.0K
$640.5K – $854.0K
NOI $51,239 @ 7.0% cap · market cap 7.33%
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
7,266
Businesses Nearby
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Business Placement
Demographics for 10037, NY
19,670
Population
11,218
Households
1.8
Avg Household Size
39
Median Age
43%
College-Educated
86%
High-School Grad
0.2 sq mi
ZIP Area
98,350
Density / Sq Mi
$51,250
Median Household Income
$54,349
Median Earnings
$1,406
Median Rent
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - The multi-level condominium includes a private patio, a flexible lower level, and separate access to each floor.
Where is this residential income property located?
The property is located at 48 E 132nd Street #1C New York City, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath condominium with more than 1,000 square feet of interior space; Private patio and lower outdoor area provide 200 square feet of outdoor space; Lower level has a separate entrance, Bosch washer/dryer, and bathroom rough‑in for a tub or shower
