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    The Largest CRE Database in the US with Over 1 Million Listings

    337 Park Cres College Point, NY 11356

    Sponsored
    For Sale
    Pending
    $1,588,000

    MULTI_FAMILY - College Point, NY

    Lot size:
    0.07 Acres
    Days on Market:
    61
    Last Refresh:
    Feb 1 at 3:06 am

    Property Features for 337 Park Cres

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Window features
    Blinds, Bay Window(s)
    Rooms
    Bedroom 1, Bedroom 4, Bedroom 6, Bathroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 2, Bedroom 5
    Bedrooms
    6
    Bathrooms
    5
    APN
    03916-0094
    Parking
    2
    Interior features
    First Floor Bedroom, First Floor Full Bath, Chefs Kitchen, Crown Molding, Granite Counters, Primary Bathroom, Master Downstairs, Open Floorplan, Open Kitchen, Recessed Lighting, Walk-In Closet(s)
    Fireplace
    1
    Basement
    Finished
    Lot size
    0.07 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public
    Water front features
    Waterfront, River Front
    Water front
    1

    Building Details

    Year built
    2007
    Number of units
    2
    Flooring type
    Hardwood
    Building materials
    Brick

    We can help!

    Listing Contact
    Hyun H. Kim CBR

    Century Homes Realty Group LLC (718) 886-6800

    Listing agent Hyun H. Kim CBR

    Listing date Dec 3, 2025

    MLS# 849990 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Waterfront Resort-Style Two-Family Condominium

    This recently constructed two-family condominium, built in 2007, offers a resort-style living experience with waterfront and park front views. The corner property features 3,388 square feet of living space and includes a duplex with three bedrooms and two full bathrooms on the first and second floors. Additionally, there is a simplex unit on the third floor, also featuring three bedrooms and two full bathrooms. Each unit is equipped with a washer and dryer. Real hardwood floors are installed throughout the house. The property includes a spacious outside staircase, an attached garage, and a separate entrance to the first floor. The third floor features two balconies, and the living room includes a bay window. Located near MacNeil Park, the residence offers panoramic views of the East River, providing sunset views from the living room. The property is near a shopping mall and the Q25 bus line to Flushing. The lot size is 0.0738 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    College Point
    County
    Queens
    State
    New York
    Longitude
    -73.848415
    Latitude
    40.793774

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    FAQs

    What type of property is this?
    Duplex - Resort-style two-family condominium with waterfront and park views.
    Where is this duplex located?
    The property is located at 337 Park Cres College Point, NY.
    What is the asking price?
    The asking price for this property is $1,588,000.
    What are key features of this property?
    This property features: - Waterfront/Park Front Location with Breathtaking East River and Sunset Views.; - Resort-Style 2-Family Condominium (Duplex & Simplex) - Potential Income Property.; - Spacious 3,388 sqft Living Space with 6 Bedrooms and 4 Full Bathrooms.
    (917) 568-1133
    Request Owner's contact information
    337 Park Cres College Point, NY 11356
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    College Point, NY 11356
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    337 Park Cres College Point, NY 11356
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    We can help!
    Listing Contact
    Hyun H. Kim CBR
    (917) 568-1133
    Learn more
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