One-Bedroom Residential Income
571 Academy Street 1G, Manhattan, NY 10034
For Sale
$355,000
Corner residence with a renovated kitchen, hardwood floors, high ceilings, and central A/C.
Property Size655 SF
Price / SF$541.98
Days on Market59
Property Features for 571 Academy Street 1G
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
gated entry
live-in super
laundry
bike room
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Bizzarro Agency LLC
Listed By:
Matthew J Bizzarro
(917) 979-2259
Source:
Carlinwright
Added: Sep 12
Changed: Nov 3
Last Checked: Nov 8 at 3:29PM
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 Bizzarro Agency LLC
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Investment Insights
Based on property information with market context.
This 655-square-foot, one-bedroom corner condominium residence at 571 Academy Street features a generously proportioned layout with an extended entry foyer, extensive closet storage, hardwood flooring, high ceilings, and central A/C. The living and dining area benefits from exposures on two sides, while the oversized bedroom includes room for additional furnishings, two closets, and large windows. A renovated galley kitchen offers granite counters, tiled backsplash, cabinetry, stainless steel appliances, and natural light. The tiled bathroom completes the interior.
The two-building property includes a landscaped courtyard, gated access, live-in superintendent, laundry facilities, and a bike room. The pet-friendly residence is near Inwood Hill Park, Fort Tryon Park, Sir William's Dog Run, the Cloisters, Broadway, Harlem River Drive, and the A and 1 trains.
The two-building property includes a landscaped courtyard, gated access, live-in superintendent, laundry facilities, and a bike room. The pet-friendly residence is near Inwood Hill Park, Fort Tryon Park, Sir William's Dog Run, the Cloisters, Broadway, Harlem River Drive, and the A and 1 trains.
Key Highlights
- 655 SF one‑bedroom corner condominium residence
- Renovated galley kitchen with granite counters and stainless steel appliances
- Hardwood floors, high ceilings, and central A/C
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,493
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,860
$409.9K
Cap Rate 7%
$292,757
$292.8K
Cap Rate 9%
$227,700
$227.7K
Market Conditions
NOI Build-Up for 655 SF
Gross rent
$39.2K $59.88/SF
− Vacancy
−$2.0K −$2.99/SF
EGI
$37.3K $56.89/SF
− OpEx
−$16.8K −$25.60/SF
NOI
$20.5K $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%
$409,860
Cap Rate 7%
$292,757
Cap Rate 9%
$227,700
Alternative Uses
Best Use
Apartment 5plus
$292.8K
$256.2K – $341.6K
NOI $20,493 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$457.9K
$400.7K – $534.3K
NOI $32,055 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,785
Businesses Nearby
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Business Placement
Demographics for 10034, NY
36,778
Population
16,599
Households
2.2
Avg Household Size
39
Median Age
39%
College-Educated
80%
High-School Grad
1.0 sq mi
ZIP Area
36,778
Density / Sq Mi
$69,786
Median Household Income
$47,553
Median Earnings
$1,621
Median Rent
$518,000
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with a renovated kitchen, hardwood floors, high ceilings, and central A/C.
Where is this residential income property located?
The property is located at 571 Academy Street 1G Manhattan, NY.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 655 SF one‑bedroom corner condominium residence; Renovated galley kitchen with granite counters and stainless steel appliances; Hardwood floors, high ceilings, and central A/C
