Residential Income Property with
For Sale
$650,000
66 MADISON Avenue 4A, New York City, NY 10016
Pre-war co-op residence offering an open layout, generous storage, and full-service building amenities.
Property Size800 SF
Price / SF$812.50
Days on Market132
Property Features for 66 MADISON Avenue 4A
General Information
Standard status
Active
Size
800 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
doorman
marble lobby
laundry on every floor
bike storage
private basement storage
Building Details
Building Size
800 SF
Year Built
1918
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(917) 476-4941
Listed By:
SORANGEL FERSOBE
(917) 476-4941
Source:
Thethomas
Added: Apr 1
Changed: Aug 9
Last Checked: Aug 10 at 9:30AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
Located at 66 Madison Avenue 4A in New York City, this 800-square-foot residential income property is a bright one-bedroom residence within the Madison Parq co-op. The home features 10-foot ceilings, hardwood flooring, an expansive living area, a kitchen with substantial cabinetry and a dishwasher, a king-sized bedroom, multiple closets, and a walk-in closet. Laundry is located on the floor, directly outside the residence.
Built in 1918, the full-service pre-war building provides a 24-hour doorman, marble lobby, updated elevators, bike storage, and private basement storage. A rooftop terrace is planned. Ownership provisions include co-purchasing, parental purchasing, gifting, pied-à-terre use, and international buyers. Subletting is permitted without a stated limit after two years. Whole Foods is directly across the street, while Madison Square Park and the 6 train are one block away; the R and W trains are two blocks away.
Built in 1918, the full-service pre-war building provides a 24-hour doorman, marble lobby, updated elevators, bike storage, and private basement storage. A rooftop terrace is planned. Ownership provisions include co-purchasing, parental purchasing, gifting, pied-à-terre use, and international buyers. Subletting is permitted without a stated limit after two years. Whole Foods is directly across the street, while Madison Square Park and the 6 train are one block away; the R and W trains are two blocks away.
Key Highlights
- 800‑square‑foot one‑bedroom residence with 10‑foot ceilings
- Full‑service pre‑war co‑op built in 1918
- 24‑hour doorman, marble lobby, and updated elevators
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
$25,030
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
3.85%
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%
$500,600
$500.6K
Cap Rate 7%
$357,571
$357.6K
Cap Rate 9%
$278,111
$278.1K
Market Conditions
NOI Build-Up for 800 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
$47.9K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$45.5K $56.89/SF
− OpEx
−$20.5K −$25.60/SF
NOI
$25.0K $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%
$500,600
Cap Rate 7%
$357,571
Cap Rate 9%
$278,111
Alternative Uses
Best Use
Apartment 5plus
$357.6K
$312.9K – $417.2K
NOI $25,030 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,392 @ 7.0% cap · market cap 21.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
46,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Pre-war co-op residence offering an open layout, generous storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 66 MADISON Avenue 4A New York City, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 800‑square‑foot one‑bedroom residence with 10‑foot ceilings; Full‑service pre‑war co‑op built in 1918; 24‑hour doorman, marble lobby, and updated elevators
