Two-Bedroom Cooperative
For Sale
$899,000
790 Riverside Drive 1J, New York City, NY 10032
Second-floor cooperative residence with restored period details, a windowed kitchen, and full-time doorman service.
Property Size1,500 SF
Price / SF$599.33
Days on Market80
Property Features for 790 Riverside Drive 1J
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
HOA Fee
$654.14
Public Transit
Yes
Amenities
doorman
live-in super
washer/dryer
Building Details
Building Size
1,500 SF
Year Built
1911
Construction
Beaux-Arts
Listing Agency:
Sothebys International Realty
Listed By:
Kristi Ambrosetti
(917) 763-8504
Source:
Bondnyre
Added: Jul 7
Changed: Sep 23
Last Checked: Sep 24 at 4:11PM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
This 1,500-square-foot, two-bedroom residence occupies the second floor of a 1911 Beaux-Arts cooperative building. The layout includes a formal entry gallery, oversized living room, dining room, separate bedroom wing, windowed kitchen, pantry, and washer/dryer. Original oak paneling, crown molding, high ceilings, French doors, and ebony-stained hardwood floors remain throughout. The kitchen is equipped with full-size appliances, while the renovated windowed bathroom includes a soaking tub and shower.
The building features a full-time doorman and live-in superintendent. The residence is in the landmarked Audubon Park Historic District on Riverside Drive, one block from the 1 train and approximately 20 minutes from Midtown. Riverside Park and the Hudson River are steps away, and the bedrooms overlook the Academy of Arts and Letters.
The building features a full-time doorman and live-in superintendent. The residence is in the landmarked Audubon Park Historic District on Riverside Drive, one block from the 1 train and approximately 20 minutes from Midtown. Riverside Park and the Hudson River are steps away, and the bedrooms overlook the Academy of Arts and Letters.
Key Highlights
- 1,500 SF two‑bedroom residence on the second floor
- 1911 Beaux‑Arts cooperative building
- Restored oak paneling, crown molding, French doors, and ebony‑stained hardwood floors
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
$46,931
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
5.22%
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%
$938,620
$938.6K
Cap Rate 7%
$670,443
$670.4K
Cap Rate 9%
$521,456
$521.5K
Market Conditions
NOI Build-Up for 1,500 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
$89.8K $59.88/SF
− Vacancy
−$4.5K −$2.99/SF
EGI
$85.3K $56.89/SF
− OpEx
−$38.4K −$25.60/SF
NOI
$46.9K $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%
$938,620
Cap Rate 7%
$670,443
Cap Rate 9%
$521,456
Alternative Uses
Best Use
Apartment 5plus
$670.4K
$586.6K – $782.2K
NOI $46,931 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.73M
$3.27M – $4.36M
NOI $261,360 @ 7.0% cap · market cap 29.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,722
Businesses Nearby
Explore this area
Business Placement
Demographics for 10032, NY
55,170
Population
23,178
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
76%
High-School Grad
0.7 sq mi
ZIP Area
78,814
Density / Sq Mi
$56,588
Median Household Income
$40,755
Median Earnings
$1,546
Median Rent
$545,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor cooperative residence with restored period details, a windowed kitchen, and full-time doorman service.
Where is this residential income property located?
The property is located at 790 Riverside Drive 1J New York City, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 1,500 SF two‑bedroom residence on the second floor; 1911 Beaux‑Arts cooperative building; Restored oak paneling, crown molding, French doors, and ebony‑stained hardwood floors
