Residential Income Property with Park
480 CENTRAL Park W 1C, Manhattan, NY 10025
For Sale
$1,649,000
The condominium offers two bedrooms, two bathrooms, renovated interiors, and access to shared building amenities.
Property Size1,417 SF
Price / SF$1,163
Days on Market175
Property Features for 480 CENTRAL Park W 1C
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
fitness room
playroom
bike storage
private storage
shared laundry room
Building Details
Building Size
Year Built
Stories
Listing Agency:
The Agency Brokerage
Listed By:
Jeffrey Steven Spector
(908) 294-8654
Source:
Dallien
Added: May 19
Changed: Nov 8
Last Checked: Nov 8 at 4:11PM
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 The Agency Brokerage
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Investment Insights
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This 1,417-square-foot condominium has two bedrooms and two bathrooms, with living and dining areas that look toward Central Park. The kitchen has a modern design, and the primary bedroom includes an en-suite bath with a shower and soaking tub. The second bedroom can also serve as an office or guest room. The building was constructed in 1910 and has seven stories; its interiors were renovated during the condominium conversion.
Across from Central Park, the building provides a live-in superintendent, part-time doorman, fitness room, playroom, bike storage, private storage, and shared laundry. Pets and subletting are permitted. Nearby transit includes the B and C subway lines, M10 and M7 buses, and the 2, 3, and 1 trains. Whole Foods Market and Columbia University are also nearby.
Across from Central Park, the building provides a live-in superintendent, part-time doorman, fitness room, playroom, bike storage, private storage, and shared laundry. Pets and subletting are permitted. Nearby transit includes the B and C subway lines, M10 and M7 buses, and the 2, 3, and 1 trains. Whole Foods Market and Columbia University are also nearby.
Key Highlights
- 1,417‑square‑foot condominium with two bedrooms and two bathrooms
- Living and dining areas offer views toward Central Park
- Built in 1910; seven‑story condominium building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,644
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,880
$932.9K
Cap Rate 7%
$666,343
$666.3K
Cap Rate 9%
$518,267
$518.3K
Market Conditions
NOI Build-Up for 1,417 SF
Gross rent
$89.3K $63.00/SF
− Vacancy
−$4.5K −$3.15/SF
EGI
$84.8K $59.85/SF
− OpEx
−$38.2K −$26.93/SF
NOI
$46.6K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,880
Cap Rate 7%
$666,343
Cap Rate 9%
$518,267
Alternative Uses
Best Use
Apartment 5plus
$666.3K
$583.1K – $777.4K
NOI $46,644 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$881.6K – $1.18M
NOI $70,525 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
9,390
Businesses Nearby
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Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - The condominium offers two bedrooms, two bathrooms, renovated interiors, and access to shared building amenities.
Where is this residential income property located?
The property is located at 480 CENTRAL Park W 1C Manhattan, NY.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: 1,417‑square‑foot condominium with two bedrooms and two bathrooms; Living and dining areas offer views toward Central Park; Built in 1910; seven‑story condominium building
