Prewar Residential Income Property with
50 Park Avenue 15H, Manhattan, NY 10016
For Sale
$775,000
Pending
Renovated one-bedroom residence with eastern exposures, generous storage, and a flexible entry foyer.
Property Size875 SF
Days on Market208
Property Features for 50 Park Avenue 15H
General Information
Standard status
Size
Property subtype
Site & Location
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
roof terrace
central laundry room
bike room
live-in superintendent
Building Details
Building Size
Year Built
Stories
Listing Agency:
Compass
Listed By:
Charles C Summers
(917) 376-1648
Source:
Lenasimpson
Added: Apr 16
Changed: Nov 7
Last Checked: Nov 8 at 3:13PM
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.
Located on the 15th floor of a 17-story cooperative completed in 1940, this 875-square-foot one-bedroom apartment combines prewar character with updated interior finishes. The layout includes a welcoming foyer, spacious living room, private bedroom with two closets, dressing or sitting area, and a renovated bathroom. Herringbone floors, 9-foot ceilings, numerous windows, and eastern outlooks toward Park Avenue and Murray Hill add distinctive detail. The renovated kitchen features white cabinetry, stone countertops, a dishwasher, and a glass-front display cabinet.
The full-service building offers a landscaped roof terrace, central laundry room, bike room, live-in superintendent, and pet-friendly policies. Its Park Avenue setting places the property near Grand Central Station, the Union League Club, Morgan Library, Midtown Manhattan, Metro-North and LIRR trains, the #4/5/6/7/S subway lines, and bus service. Financing up to 70% is permitted, along with pied-à-terre, co-purchasing, and gifting arrangements.
The full-service building offers a landscaped roof terrace, central laundry room, bike room, live-in superintendent, and pet-friendly policies. Its Park Avenue setting places the property near Grand Central Station, the Union League Club, Morgan Library, Midtown Manhattan, Metro-North and LIRR trains, the #4/5/6/7/S subway lines, and bus service. Financing up to 70% is permitted, along with pied-à-terre, co-purchasing, and gifting arrangements.
Key Highlights
- 875‑square‑foot one‑bedroom apartment on the 15th floor
- Renovated kitchen and bath with stone countertops and dishwasher
- Prewar cooperative built in 1940 with 17 stories
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,376
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,520
$547.5K
Cap Rate 7%
$391,086
$391.1K
Cap Rate 9%
$304,178
$304.2K
Market Conditions
NOI Build-Up for 875 SF
Gross rent
$52.4K $59.88/SF
− Vacancy
−$2.6K −$2.99/SF
EGI
$49.8K $56.89/SF
− OpEx
−$22.4K −$25.60/SF
NOI
$27.4K $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%
$547,520
Cap Rate 7%
$391,086
Cap Rate 9%
$304,178
Alternative Uses
Best Use
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,376 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$611.7K
$535.3K – $713.7K
NOI $42,821 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46,936
Businesses Nearby
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Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated one-bedroom residence with eastern exposures, generous storage, and a flexible entry foyer.
Where is this residential income property located?
The property is located at 50 Park Avenue 15H Manhattan, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 875‑square‑foot one‑bedroom apartment on the 15th floor; Renovated kitchen and bath with stone countertops and dishwasher; Prewar cooperative built in 1940 with 17 stories
