Residential Income Property with
For Sale
$379,000
48 E 132ND Street 5E, New York City, NY 10037
Oversized studio residence with a separated sleeping area, in-unit laundry, and access to full-service building amenities.
Property Size444 SF
Price / SF$853.60
Days on Market86
Property Features for 48 E 132ND Street 5E
General Information
Standard status
Active
Size
444 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
virtual doorman
package room
fitness center
landscaped courtyard
in-unit laundry
private terrace
Building Details
Building Size
444 SF
Year Built
2016
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-2560
Listed By:
Whitney S Osentoski · License #40OS1071061
(212) 381-2560
Source:
Howardhannanyc
Added: Jun 1
Changed: Aug 23
Last Checked: Aug 24 at 2:19PM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This 444-square-foot studio residence, completed in 2016, is arranged with a distinct king-sized sleeping alcove and separate areas for living and entertaining. A private balcony extends the usable living space, while the kitchen includes stainless steel appliances, a dishwasher, paneled cabinetry, and quartz countertops. Bosch in-unit laundry adds everyday convenience.
The Style provides a 24-hour monitored virtual doorman, package room, fitness center, and landscaped courtyard furnished for resident use. The property is in East Harlem, with restaurants, cafés, shopping, and multiple transportation options nearby. The residence is positioned for use as a primary home or investment property.
The Style provides a 24-hour monitored virtual doorman, package room, fitness center, and landscaped courtyard furnished for resident use. The property is in East Harlem, with restaurants, cafés, shopping, and multiple transportation options nearby. The residence is positioned for use as a primary home or investment property.
Key Highlights
- 444‑square‑foot oversized studio residence
- Separated king‑sized sleeping alcove creates distinct living and sleeping areas
- Private balcony and Bosch in‑unit laundry
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
$13,892
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
3.67%
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%
$277,840
$277.8K
Cap Rate 7%
$198,457
$198.5K
Cap Rate 9%
$154,356
$154.4K
Market Conditions
NOI Build-Up for 444 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
$26.6K $59.88/SF
− Vacancy
−$1.3K −$2.99/SF
EGI
$25.3K $56.89/SF
− OpEx
−$11.4K −$25.60/SF
NOI
$13.9K $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%
$277,840
Cap Rate 7%
$198,457
Cap Rate 9%
$154,356
Alternative Uses
Best Use
Apartment 5plus
$198.5K
$173.7K – $231.5K
NOI $13,892 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.11M
$967.0K – $1.29M
NOI $77,363 @ 7.0% cap · market cap 20.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,266
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Oversized studio residence with a separated sleeping area, in-unit laundry, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 48 E 132ND Street 5E New York City, NY.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 444‑square‑foot oversized studio residence; Separated king‑sized sleeping alcove creates distinct living and sleeping areas; Private balcony and Bosch in‑unit laundry
