Loft Co-Op Residence with
For Sale
$1,199,000
521 W 47th Street 3B, New York City, NY 10036
1,125 SF one-bedroom loft co-op with 12-foot ceilings, wood-burning fireplace, and in-unit washer and dryer.
Property Size1,125 SF
Price / SF$1,065
Days on Market151
Property Features for 521 W 47th Street 3B
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Amenities
fireplace
chef's kitchen
wine refrigerator
in-unit washer/dryer
smart home integration
hardwood floors
custom millwork
renovated lobby
virtual doorman
package room
bicycle storage
pet-friendly
Building Details
Building Size
1,125 SF
Year Built
1910
Listing Agency:
Compass
(917) 232-4458
Listed By:
Gregory D Mire
(917) 232-4458
Source:
Carlinwright
Added: Mar 13
Changed: Aug 10
Last Checked: Aug 10 at 9:38AM
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 Compass
Investment Insights
Based on property information with market context.
This one-bedroom loft co-op residence offers a rare, voluminous layout totaling 1,125 square feet. The home features 12-foot ceilings, a wood-burning fireplace, and one-and-a-half bathrooms, with a moody entry foyer and a walk-in coat closet. The great room opens through the living, dining, and kitchen areas, anchored by the fireplace and defined by soaring beamed ceilings. The chef’s kitchen includes a quartz-clad island and appliances such as a Sub-Zero refrigerator and Wolf range, plus a Cove dishwasher. A dedicated wine refrigerator and a sleek bar add to the entertaining flow.
The primary suite provides king-sized proportions and a massive walk-in closet with integrated storage. The spa-like primary bath includes heated floors, Italian tile finishes, a rainfall shower with a glass enclosure, and an oversized sink. Additional features include wide-plank hardwood floors, custom millwork, and smart home integration with Lutron lighting and motorized shades, as well as an in-unit washer and dryer and a discreet yet expansive attic for extra storage.
The residence is in The Bakery, a pet-friendly 16-unit co-op building originally built in 1910 as an automobile garage and commercial bakery. Building amenities include a newly renovated lobby, virtual doorman, package room, and bicycle storage, along with flexible ownership that allows subletting, gifting, and pied a terre use. International owners are welcome.
The primary suite provides king-sized proportions and a massive walk-in closet with integrated storage. The spa-like primary bath includes heated floors, Italian tile finishes, a rainfall shower with a glass enclosure, and an oversized sink. Additional features include wide-plank hardwood floors, custom millwork, and smart home integration with Lutron lighting and motorized shades, as well as an in-unit washer and dryer and a discreet yet expansive attic for extra storage.
The residence is in The Bakery, a pet-friendly 16-unit co-op building originally built in 1910 as an automobile garage and commercial bakery. Building amenities include a newly renovated lobby, virtual doorman, package room, and bicycle storage, along with flexible ownership that allows subletting, gifting, and pied a terre use. International owners are welcome.
Key Highlights
- 1,125 SF one‑bedroom loft with 12‑foot ceilings and beamed great room volume
- Wood‑burning fireplace plus one‑and‑a‑half bathrooms
- Chef’s kitchen with quartz‑clad island, Sub‑Zero refrigerator, and Wolf range
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
$35,198
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
2.94%
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%
$703,960
$704.0K
Cap Rate 7%
$502,829
$502.8K
Cap Rate 9%
$391,089
$391.1K
Market Conditions
NOI Build-Up for 1,125 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
$67.4K $59.88/SF
− Vacancy
−$3.4K −$2.99/SF
EGI
$64.0K $56.89/SF
− OpEx
−$28.8K −$25.60/SF
NOI
$35.2K $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%
$703,960
Cap Rate 7%
$502,829
Cap Rate 9%
$391,089
Alternative Uses
Best Use
Apartment 5plus
$502.8K
$440.0K – $586.6K
NOI $35,198 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.80M
$2.45M – $3.27M
NOI $196,020 @ 7.0% cap · market cap 16.35%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1,125 SF one-bedroom loft co-op with 12-foot ceilings, wood-burning fireplace, and in-unit washer and dryer.
Where is this residential income property located?
The property is located at 521 W 47th Street 3B New York City, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 1,125 SF one‑bedroom loft with 12‑foot ceilings and beamed great room volume; Wood‑burning fireplace plus one‑and‑a‑half bathrooms; Chef’s kitchen with quartz‑clad island, Sub‑Zero refrigerator, and Wolf range
