Residential Income Property with
500 W 43RD Street 5G, New York City, NY 10036
For Sale
$710,000
Pending
One-bedroom residence in a 42-story condominium with walnut flooring, updated solar shades, and extensive building amenities.
Property Size675 SF
Days on Market288
Property Features for 500 W 43RD Street 5G
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
private balcony
walnut floors
solar shades
stainless steel appliances
dishwasher
blackout shades
marble bathroom
concierge
24-hour doorman
live-in super
pool
roof deck
laundry rooms
bike room
fitness center
sauna
steam room
resident lounge
Building Details
Building Size
Year Built
Stories
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Candice L Milano
(212) 381-2639
Source:
Tricialee
Added: Jan 26
Changed: Oct 31
Last Checked: Nov 8 at 3:02PM
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
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium residence occupies the fifth floor of The Strand, a 42-story tower completed in 1988. The 675-square-foot home has North- and East-facing windows, a private balcony, walnut floors, and an open living area suited to both daily use and entertaining. The kitchen includes stainless-steel appliances, storage, and a dishwasher, while the bedroom offers blackout shades and a spacious closet. Marble flooring and walls finish the bathroom, which also includes a large vanity with integrated storage.
Building services and amenities include a concierge, 24-hour doorman, live-in superintendent, pool, roof deck, fitness center, sauna, steam room, resident lounge, bike room, and laundry rooms throughout the property. The condominium also features a landscaped plaza with fountains and a grand lobby. The property is in Hell's Kitchen, near Broadway theaters, dining, the Hudson River, Central Park, and the 1, 2, 3, 7, A, C, E, N, Q, R, and W subway lines.
Building services and amenities include a concierge, 24-hour doorman, live-in superintendent, pool, roof deck, fitness center, sauna, steam room, resident lounge, bike room, and laundry rooms throughout the property. The condominium also features a landscaped plaza with fountains and a grand lobby. The property is in Hell's Kitchen, near Broadway theaters, dining, the Hudson River, Central Park, and the 1, 2, 3, 7, A, C, E, N, Q, R, and W subway lines.
Key Highlights
- 675‑square‑foot one‑bedroom, one‑bath condominium residence
- North- and East‑facing windows plus a private balcony
- Walnut flooring, new solar shades, and marble bathroom finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,119
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,380
$422.4K
Cap Rate 7%
$301,700
$301.7K
Cap Rate 9%
$234,656
$234.7K
Market Conditions
NOI Build-Up for 675 SF
Gross rent
$40.4K $59.88/SF
− Vacancy
−$2.0K −$2.99/SF
EGI
$38.4K $56.89/SF
− OpEx
−$17.3K −$25.60/SF
NOI
$21.1K $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%
$422,380
Cap Rate 7%
$301,700
Cap Rate 9%
$234,656
Alternative Uses
Best Use
Apartment 5plus
$301.7K
$264.0K – $352.0K
NOI $21,119 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$471.9K
$412.9K – $550.6K
NOI $33,033 @ 7.0% cap · market cap 4.65%
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
2,460
Businesses Nearby
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Business Placement
Demographics for 10036, NY
33,868
Population
22,473
Households
1.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
84,670
Density / Sq Mi
$100,225
Median Household Income
$86,122
Median Earnings
$2,301
Median Rent
$988,000
Median Home Value
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence in a 42-story condominium with walnut flooring, updated solar shades, and extensive building amenities.
Where is this residential income property located?
The property is located at 500 W 43RD Street 5G New York City, NY.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 675‑square‑foot one‑bedroom, one‑bath condominium residence; North- and East‑facing windows plus a private balcony; Walnut flooring, new solar shades, and marble bathroom finishes
