Residential Income Property with
For Sale
$710,000
500 W 43RD Street 5G, New York City, NY 10036
One-bedroom residence in a 42-story condominium with walnut flooring, updated solar shades, and extensive building amenities.
Property Size675 SF
Price / SF$1,051
Days on Market223
Property Features for 500 W 43RD Street 5G
General Information
Standard status
Active
Size
675 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
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
675 SF
Year Built
1988
Stories
42
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Candice L Milano
(212) 381-2639
Source:
Carytamura
Added: Jan 26
Changed: Aug 31
Last Checked: Sep 5 at 4:43AM
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 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 = 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
$21,119
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
2.97%
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%
$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
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
$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 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%
$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
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,612 @ 7.0% cap · market cap 16.57%
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
2,460
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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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
