Residential Income Property with Roof
For Sale
$585,000
155 E 34TH Street 11H, New York City, NY 10016
South-facing residence with hardwood flooring, central HVAC, four closets, and access to extensive building services.
Property Size560 SF
Price / SF$1,044
Days on Market8
Property Features for 155 E 34TH Street 11H
General Information
Standard status
Active
Size
560 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$10,464
Amenities
24-hour doorman
full-time concierge
on-site building manager
fully renovated lobby
roof deck
common laundry facility
on-site parking garage
Building Details
Building Size
560 SF
Year Built
1962
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Alexandra R Bellak · License #10301201635
(917) 626-7404
Source:
Carytamura
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 22 at 10:04PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This 560-square-foot, south-facing residence at 155 E 34th Street features an open living arrangement suited to everyday living and entertaining. The kitchen includes white cabinetry, full appliances, and a Whirlpool dishwasher. Hardwood floors, four closets, central air conditioning and heating, and a tiled bathroom with a newer vanity complete the interior. The property was built in 1962.
Warren House provides a 24-hour doorman, full-time concierge, on-site building manager, high-speed elevators, and an extensively renovated lobby. Residents also have access to a roof deck with 360-degree city views, an on-site parking garage, and a fully equipped common laundry facility. The #6 train, Penn Station, and Grand Central Terminal are accessible from the property.
Warren House provides a 24-hour doorman, full-time concierge, on-site building manager, high-speed elevators, and an extensively renovated lobby. Residents also have access to a roof deck with 360-degree city views, an on-site parking garage, and a fully equipped common laundry facility. The #6 train, Penn Station, and Grand Central Terminal are accessible from the property.
Key Highlights
- 560‑square‑foot south‑facing residence
- White‑cabinet kitchen with full appliances and Whirlpool dishwasher
- Hardwood floors, central air conditioning and heating, and four closets
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
$17,521
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
3.00%
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%
$350,420
$350.4K
Cap Rate 7%
$250,300
$250.3K
Cap Rate 9%
$194,678
$194.7K
Market Conditions
NOI Build-Up for 560 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
$33.5K $59.88/SF
− Vacancy
−$1.7K −$2.99/SF
EGI
$31.9K $56.89/SF
− OpEx
−$14.3K −$25.60/SF
NOI
$17.5K $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%
$350,420
Cap Rate 7%
$250,300
Cap Rate 9%
$194,678
Alternative Uses
Best Use
Apartment 5plus
$250.3K
$219.0K – $292.0K
NOI $17,521 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.63M
NOI $97,574 @ 7.0% cap · market cap 16.68%
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
3,841
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - South-facing residence with hardwood flooring, central HVAC, four closets, and access to extensive building services.
Where is this residential income property located?
The property is located at 155 E 34TH Street 11H New York City, NY.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 560‑square‑foot south‑facing residence; White‑cabinet kitchen with full appliances and Whirlpool dishwasher; Hardwood floors, central air conditioning and heating, and four closets
