Residential Income Property with Home
For Sale
$917,000
505 W 47TH Street 2DN, New York City, NY 10036
Floor-through residence combines a one-bedroom layout with a flexible home office and full-service building amenities.
Property Size841 SF
Price / SF$1,090
Days on Market456
Property Features for 505 W 47TH Street 2DN
General Information
Standard status
Active
Size
841 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR+home office
Multifamily Units
1
Amenities
24-hour fitness center
two landscaped roof decks
serene central garden
bike storage
laundry room
full-time doorman service
in-unit washer/dryer
Building Details
Building Size
841 SF
Year Built
2008
Tenancy
Single
Listing Agency:
The Agency Brokerage
Listed By:
Jon Amundsen
(917) 536-6672
Source:
Carytamura
Added: Jun 26, 2025
Changed: Sep 23
Last Checked: Sep 24 at 5:29PM
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.
This 841-square-foot floor-through residence offers one bedroom plus a home office within The 505 Condominium, a full-service building completed in 2008. The layout includes a spacious living area, central dining room or office, modern kitchen, and spa-style bathroom. Kitchen features include Fisher & Paykel and Bosch appliances, marble countertops, custom cabinetry, and an in-unit washer/dryer. The bathroom includes Zebrano wall tiles, Rocky River marble counters, Kohler fixtures, a rain shower, and Wenge cabinetry.
Building amenities include a 24-hour fitness center, two landscaped roof decks, a central garden, bike storage, laundry room, and full-time doorman service. The residence is located at 505 W 47th Street in New York City, NY 10036.
Building amenities include a 24-hour fitness center, two landscaped roof decks, a central garden, bike storage, laundry room, and full-time doorman service. The residence is located at 505 W 47th Street in New York City, NY 10036.
Key Highlights
- 841‑square‑foot floor‑through residence
- One‑bedroom layout with a home office
- Kitchen with Fisher & Paykel refrigerator, Bosch appliances, marble countertops, and custom cabinetry
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
$26,313
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
2.87%
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%
$526,260
$526.3K
Cap Rate 7%
$375,900
$375.9K
Cap Rate 9%
$292,367
$292.4K
Market Conditions
NOI Build-Up for 841 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
$50.4K $59.88/SF
− Vacancy
−$2.5K −$2.99/SF
EGI
$47.8K $56.89/SF
− OpEx
−$21.5K −$25.60/SF
NOI
$26.3K $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%
$526,260
Cap Rate 7%
$375,900
Cap Rate 9%
$292,367
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
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Floor-through residence combines a one-bedroom layout with a flexible home office 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: 841‑square‑foot floor‑through residence; One‑bedroom layout with a home office; Kitchen with Fisher & Paykel refrigerator, Bosch appliances, marble countertops, and custom cabinetry
