Renovated Residential Income
For Sale
$799,000
710 RIVERSIDE Drive 5A, New York City, NY
Elevator-serviced two-bedroom residence with updated kitchen, two windowed baths, and private storage.
Property Size960 SF
Price / SF$832.29
Days on Market8
Property Features for 710 RIVERSIDE Drive 5A
General Information
Standard status
Active
Size
960 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
in-unit washer/dryer
private storage cage
live-in superintendent
fitness room
outdoor seating area
community room with Wi-Fi
high-capacity washers and dryers
ButterflyMX virtual doorman
storage room with individual cages
bike hooks for bicycle storage
Building Details
Building Size
960 SF
Year Built
1920
Construction
Art Deco
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Sandra Balan
(212) 588-5644
Source:
Bondnyre
Added: Aug 27
Changed: Aug 31
Last Checked: Sep 2 at 9:18PM
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.
This residential income property is a renovated two-bedroom, two-bathroom condominium residence in a 1920 elevator-serviced prewar building. The south- and east-facing home features high ceilings, solid oak floors, and a recently added LG washer and dryer. Its updated kitchen includes LG stainless steel appliances, a dishwasher, new cabinetry, quartz countertops, and chrome hardware. Both full bathrooms have windows; the primary includes a stall shower, while the secondary offers a Kohler soaking tub. A private storage cage is included.
Building amenities include a fitness room, outdoor seating, a Wi-Fi-equipped community room, basement laundry facilities, app-based ButterflyMX entry, bicycle hooks, and individual storage cages. The property also has a live-in superintendent and permits dogs up to 30 lbs. Riverside Park is directly outside, while Riverbank State Park and the 1, A, B, C, and D trains are nearby on 145th Street.
Building amenities include a fitness room, outdoor seating, a Wi-Fi-equipped community room, basement laundry facilities, app-based ButterflyMX entry, bicycle hooks, and individual storage cages. The property also has a live-in superintendent and permits dogs up to 30 lbs. Riverside Park is directly outside, while Riverbank State Park and the 1, A, B, C, and D trains are nearby on 145th Street.
Key Highlights
- 2‑bedroom, 2‑bathroom residence with south- and east‑facing exposure
- Renovated kitchen with LG stainless steel appliances, dishwasher, cabinetry, and quartz countertops
- Two windowed full bathrooms with a stall shower and Kohler soaking tub
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
$30,036
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
3.76%
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%
$600,720
$600.7K
Cap Rate 7%
$429,086
$429.1K
Cap Rate 9%
$333,733
$333.7K
Market Conditions
NOI Build-Up for 960 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
$57.5K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$54.6K $56.89/SF
− OpEx
−$24.6K −$25.60/SF
NOI
$30.0K $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%
$600,720
Cap Rate 7%
$429,086
Cap Rate 9%
$333,733
Alternative Uses
Best Use
Apartment 5plus
$429.1K
$375.5K – $500.6K
NOI $30,036 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,270 @ 7.0% cap · market cap 20.93%
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
4,553
Businesses Nearby
Explore this area
Business Placement
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Elevator-serviced two-bedroom residence with updated kitchen, two windowed baths, and private storage.
Where is this residential income property located?
The property is located at 710 RIVERSIDE Drive 5A New York City, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom residence with south- and east‑facing exposure; Renovated kitchen with LG stainless steel appliances, dishwasher, cabinetry, and quartz countertops; Two windowed full bathrooms with a stall shower and Kohler soaking tub
