Tenant-Occupied Residential Income
For Sale
$917,000
505 W 47TH Street 2DN, New York City, NY 10036
Floor-through one-bedroom residence with home office, designer kitchen, in-unit laundry, and full-service building amenities.
Property Size841 SF
Price / SF$1,090
Days on Market102
Property Features for 505 W 47TH Street 2DN
General Information
Standard status
Active
Size
841 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
24-hour fitness center
two landscaped roof decks
serene central garden
bike storage
laundry room
full-time doorman service
Building Details
Building Size
841 SF
Year Built
2008
Buildings
1
Tenancy
Single
Listing Agency:
The Agency Brokerage
(917) 536-6672
Listed By:
Jon Amundsen
(917) 536-6672
Source:
Cbwarburg
Added: Apr 21
Changed: Jul 31
Last Checked: Jul 31 at 12:26PM
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 The Agency Brokerage
Investment Insights
Based on property information with market context.
Tenant-occupied residential income property at The 505 Condominium, a luxury full-service building completed in 2008. The 841-square-foot, north- and south-facing floor-through residence includes one bedroom plus a home office, a spacious living area, and a central dining room or office space. The flexible layout supports both living and working.
The modern kitchen features Mastri La Cucina cabinetry, a Fisher & Paykel refrigerator, Bosch appliances, marble countertops, and an in-unit washer/dryer. The bathroom includes Zebrano wall tiles, Rocky River marble counters, Kohler fixtures, a rain shower, and custom Wenge cabinetry. Building amenities include a 24-hour fitness center, two landscaped roof decks, a central garden, bike storage, a laundry room, and full-time doorman service. The property is located at 505 W 47th Street in Hell's Kitchen, New York City.
The modern kitchen features Mastri La Cucina cabinetry, a Fisher & Paykel refrigerator, Bosch appliances, marble countertops, and an in-unit washer/dryer. The bathroom includes Zebrano wall tiles, Rocky River marble counters, Kohler fixtures, a rain shower, and custom Wenge cabinetry. Building amenities include a 24-hour fitness center, two landscaped roof decks, a central garden, bike storage, a laundry room, and full-time doorman service. The property is located at 505 W 47th Street in Hell's Kitchen, New York City.
Key Highlights
- Tenant in place at The 505 Condominium
- 841‑square‑foot floor‑through residence with north- and south‑facing exposure
- One‑bedroom layout with a home office and flexible dining or office area
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.4k | $59.88 |
| − Vacancy | −$2.5k | −$2.99 |
| EGI | $47.8k | $56.89 |
| − OpEx | −$21.5k | −$25.60 |
| NOI | $26.3k | $31.29 |
841 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$375.9K
$328.9K – $438.6K
NOI $26,313 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.09M
$1.83M – $2.44M
NOI $146,536 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
28,628
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
Market
Properties on Market for Residential income properties in New York County
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Frequently Asked Questions
What type of property is this?
Residential income property - Floor-through one-bedroom residence with home office, designer kitchen, in-unit laundry, and full-service building amenities.
Where is this residential income property located?
The property is located at 505 W 47TH Street 2DN New York City, NY.
What is the asking price?
The asking price for this property is $917,000.
What are key features of this property?
This property features: Tenant in place at The 505 Condominium; 841‑square‑foot floor‑through residence with north- and south‑facing exposure; One‑bedroom layout with a home office and flexible dining or office area
