Residential Income Property with
505 E 82ND Street 5H, New York City, NY 10028
For Sale
$365,000
A studio co-op offers hardwood floors, high ceilings, generous closet space, and a kitchen with custom cabinetry.
Property Size500 SF
Price / SF$730
Days on Market146
Property Features for 505 E 82ND Street 5H
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
part-time doorman
live-in resident manager
central laundry room
private storage
meeting/party room
landscaped courtyard garden
Building Details
Building Size
Year Built
Listing Agency:
Corcoran Group
Listed By:
Glenn Lawrence · License #10301216599 (NY)
(718) 404-5488
Source:
Decodenyc
Added: Jun 17
Changed: Nov 8
Last Checked: Nov 8 at 8:00PM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
This 500-square-foot studio co-op has hardwood floors, high ceilings, and three closets. Its layout accommodates living, dining, and sleeping areas, with a dressing area beside the bathroom. The kitchen includes custom cabinetry, a storage island, and a gas stove; the bathroom has a window. Built in 1950, the building features an elevator, part-time doorman, live-in resident manager, central laundry, private storage, a meeting and party room, and a landscaped courtyard garden.
The property is one block from Carl Schurz Park and the East River Esplanade. Q train service is three blocks away, with 4, 5, and 6 trains, bus lines, CitiBike stations, the FDR Drive, and the RFK Bridge also cited nearby.
The co-op allows subletting after two years of ownership for up to six years and permits co-purchasing and pied-à-terres. Financing is allowed up to 80%; dogs are not permitted.
The property is one block from Carl Schurz Park and the East River Esplanade. Q train service is three blocks away, with 4, 5, and 6 trains, bus lines, CitiBike stations, the FDR Drive, and the RFK Bridge also cited nearby.
The co-op allows subletting after two years of ownership for up to six years and permits co-purchasing and pied-à-terres. Financing is allowed up to 80%; dogs are not permitted.
Key Highlights
- 500‑square‑foot studio with three closets
- Building constructed in 1950, with elevator and part‑time doorman
- Landscaped courtyard garden, central laundry, private storage, and meeting/party room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,644
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.6K
$305.9K – $407.8K
NOI $24,469 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
17,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 10028, NY
48,116
Population
29,535
Households
1.6
Avg Household Size
39
Median Age
83%
College-Educated
98%
High-School Grad
0.3 sq mi
ZIP Area
160,387
Density / Sq Mi
$168,125
Median Household Income
$116,860
Median Earnings
$2,702
Median Rent
$1,600,400
Median Home Value
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - A studio co-op offers hardwood floors, high ceilings, generous closet space, and a kitchen with custom cabinetry.
Where is this residential income property located?
The property is located at 505 E 82ND Street 5H New York City, NY.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 500‑square‑foot studio with three closets; Building constructed in 1950, with elevator and part‑time doorman; Landscaped courtyard garden, central laundry, private storage, and meeting/party room
