Two-Level Residential Income
500 PARK Avenue PENTHOUS39, Manhattan, NY 10022
For Sale
$9,995,000
Expansive condominium residence with a planted terrace, multiple exposures, and separate entertaining and bedroom levels.
Property Size9,072 SF
Price / SF$1,101
Days on Market61
Property Features for 500 PARK Avenue PENTHOUS39
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
terrace
library
study
fireplaces
media room
breakfast room
full service
Building Details
Building Size
Year Built
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Frances W Katzen · License #30KA1018951
(917) 705-1864
Source:
Carytamura
Added: Sep 8
Changed: Nov 4
Last Checked: Nov 6 at 6:36PM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This 9,072-square-foot condominium residence occupies two full floors within 500 Park Tower, a 1959 full-service building. The lower level combines living and dining rooms with a library, study, kitchen, breakfast room, and media room, while the upper floor provides private bedroom accommodations, including a secluded primary suite with dual dressing rooms and spa-like baths. Four exposures and oversized picture windows bring in varied light and broad city views.
A planted entertaining terrace extends directly from the library and study, creating a substantial outdoor component for the residence. The building is positioned at 500 Park Avenue in New York City, near Central Park and the Upper East Side–Midtown East boundary, with dining and shopping nearby. The property also includes corner bedrooms with fireplaces and south- and east-facing sitting rooms.
A planted entertaining terrace extends directly from the library and study, creating a substantial outdoor component for the residence. The building is positioned at 500 Park Avenue in New York City, near Central Park and the Upper East Side–Midtown East boundary, with dining and shopping nearby. The property also includes corner bedrooms with fireplaces and south- and east-facing sitting rooms.
Key Highlights
- 9,072‑square‑foot residence spanning two full floors
- Planted entertaining terrace connected to the library and study
- Four exposures with north, south, east, and west‑facing views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$283,838
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,676,760
$5.7M
Cap Rate 7%
$4,054,829
$4.1M
Cap Rate 9%
$3,153,756
$3.2M
Market Conditions
NOI Build-Up for 9,072 SF
Gross rent
$543.2K $59.88/SF
− Vacancy
−$27.2K −$2.99/SF
EGI
$516.1K $56.89/SF
− OpEx
−$232.2K −$25.60/SF
NOI
$283.8K $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%
$5,676,760
Cap Rate 7%
$4,054,829
Cap Rate 9%
$3,153,756
Alternative Uses
Best Use
Apartment 5plus
$4.05M
$3.55M – $4.73M
NOI $283,838 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$22.58M
$19.76M – $26.35M
NOI $1,580,705 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
49,964
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
$1,116,700
Median Home Value
Market
Average Price Trend$/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 - Expansive condominium residence with a planted terrace, multiple exposures, and separate entertaining and bedroom levels.
Where is this residential income property located?
The property is located at 500 PARK Avenue PENTHOUS39 Manhattan, NY.
What is the asking price?
The asking price for this property is $9,995,000.
What are key features of this property?
This property features: 9,072‑square‑foot residence spanning two full floors; Planted entertaining terrace connected to the library and study; Four exposures with north, south, east, and west‑facing views
