Duplex Residential Income
For Sale
$3,500,000
860 United Nations Plaza PH 37/38B, New York City, NY 10017
Corner cooperative penthouse with four bedrooms, extensive glazing, and panoramic city and East River views.
Property Size4,000 SF
Price / SF$875
Days on Market530
Property Features for 860 United Nations Plaza PH 37/38B
General Information
Standard status
Active
Size
4,000 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 4BR/4.5BA
Multifamily Units
1
Additional Details
Furnished
No
HOA Fee
$10,780
Amenities
fitness center
pilates studio
private residents club 39
conference rooms
golf simulator
billiards room
in-house dry-cleaning service
rooftop sun decks
garage
24 hr service and security
on-site management office
Building Details
Year Built
1966
Construction
Mid-Century Modern
Listing Agency:
Sothebys International Realty
Listed By:
Nikki Field
(212) 606-7669
Source:
Carytamura
Added: Apr 14, 2025
Changed: Sep 23
Last Checked: Sep 24 at 3:47PM
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 duplex cooperative residence occupies approximately 4000 sq ft within the 860 United Nations Plaza complex. The eight-room layout includes four bedrooms, 4.5 bathrooms, a double-height gallery, formal living and dining rooms, an eat-in kitchen, butler’s pantry, laundry room, private elevator, wood-burning fireplace, and custom storage. The upper level includes three bedroom suites, while the main level provides an additional bedroom with an en-suite bathroom. Hardwood flooring, multiple-zone central air conditioning, custom Lutron lighting, and 43 large windows are among the notable interior features.
The corner penthouse has more than 175 linear feet of windows across two floors, with city and East River outlooks. The building dates to 1966 and provides a staffed lobby, 24-hour service and security, fitness and Pilates facilities, residents’ club areas, conference rooms, golf simulator, billiards room, rooftop sun decks, garage, and on-site dry-cleaning service. A storage room transfers with the apartment, and pets are welcome.
The corner penthouse has more than 175 linear feet of windows across two floors, with city and East River outlooks. The building dates to 1966 and provides a staffed lobby, 24-hour service and security, fitness and Pilates facilities, residents’ club areas, conference rooms, golf simulator, billiards room, rooftop sun decks, garage, and on-site dry-cleaning service. A storage room transfers with the apartment, and pets are welcome.
Key Highlights
- Approximately 4000 sq ft duplex cooperative residence
- Four bedrooms and 4.5 bathrooms across an eight‑room layout
- More than 175 linear feet of windows over two 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
$125,149
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
3.58%
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%
$2,502,980
$2.5M
Cap Rate 7%
$1,787,843
$1.8M
Cap Rate 9%
$1,390,544
$1.4M
Market Conditions
NOI Build-Up for 4,000 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
$239.5K $59.88/SF
− Vacancy
−$12.0K −$2.99/SF
EGI
$227.5K $56.89/SF
− OpEx
−$102.4K −$25.60/SF
NOI
$125.1K $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%
$2,502,980
Cap Rate 7%
$1,787,843
Cap Rate 9%
$1,390,544
Alternative Uses
Best Use
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,149 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.96M
$8.71M – $11.62M
NOI $696,960 @ 7.0% cap · market cap 19.91%
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
38,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner cooperative penthouse with four bedrooms, extensive glazing, and panoramic city and East River views.
Where is this residential income property located?
The property is located at 860 United Nations Plaza PH 37/38B New York City, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Approximately 4000 sq ft duplex cooperative residence; Four bedrooms and 4.5 bathrooms across an eight‑room layout; More than 175 linear feet of windows over two floors
