Building Details

Building Size 1,200 SF

Year Built 1946

Listed By: Darryl Selsey · License #31SE0932906 Show Phone

Source: Elliman

Added: Dec 3, 2025 Changed: Oct 4 Last Checked: Oct 5 at 7:51PM

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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 Darryl Selsey

Investment Insights

Based on property information with market context.

The Carlton House features a spacious 2-bedroom coop situated on a quiet, tree-lined street in one of Queens' most desirable neighborhoods. This well-maintained elevator building offers a part-time doorman and a live-in superintendent. On-site management is available. Residents have access to a fitness center, garage parking, and storage facilities. The property includes a private terrace. The building is located within walking distance of the 7 Train.

Key Highlights

• Sought‑after neighborhood in Queens
• Walk to the 7 Train
• Spacious 2 Bedroom coop with Private Terrace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,333

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$586,660 $586.7K

Cap Rate 7%

$419,043 $419.0K

Cap Rate 9%

$325,922 $325.9K

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$55.4K $46.20/SF

− Vacancy

−$2.1K −$1.76/SF

EGI

$53.3K $44.44/SF

− OpEx

−$24.0K −$20.00/SF

NOI

$29.3K $24.44/SF

Area

Queens County, NY

Vacancy

3.80%

Lease Rate

$46.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$586,660

Cap Rate 7%

$419,043

Cap Rate 9%

$325,922

Alternative Uses

Best Use

Apartment 5plus

$419.0K

$366.7K – $488.9K (±1% cap)

NOI $29,333 @ 7.0% cap · market cap 5.87%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$884.7K

$774.1K – $1.03M (±1% cap)

NOI $61,926 @ 7.0% cap · market cap 12.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center Parking Lot & Garage Hotel & Motel Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

8,269

Businesses Nearby

Explore this area Business Placement

Demographics for 11372, NY

68,000

Population

26,613

Households

2.6

Avg Household Size

41

Median Age

35%

College-Educated

81%

High-School Grad

0.7 sq mi

ZIP Area

97,143

Density / Sq Mi

$77,133

Median Household Income

$44,415

Median Earnings

$1,795

Median Rent

$454,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Two-bedroom coop with amenities in a sought-after Queens neighborhood.

Where is this apartment building located?

The property is located at 3441 85th 3A Queens, NY.

What is the asking price?

The asking price for this property is $499,999.

What are key features of this property?

This property features: Sought‑after neighborhood in Queens; Walk to the 7 Train; Spacious 2 Bedroom coop with **Private Terrace**