Alcove Studio Residential Income
155 E 34th Street 16S, New York City, NY 10016
For Sale
$475,000
Pending
Flexible alcove layout includes a distinct sleeping area, abundant windows, and generous storage.
Property Size530 SF
Days on Market85
Property Features for 155 E 34th Street 16S
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Howard Hanna NYC
Listed By:
Aimee Fink
(646) 841-3224
Source:
Howardhannanyc
Added: Aug 17
Changed: Nov 1
Last Checked: Nov 8 at 1:01PM
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 Howard Hanna NYC
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Investment Insights
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This 530-square-foot residential income property is configured as an oversized alcove studio with a separate sleeping area, living space, dining area, and extensive closet storage. Large windows bring in natural light and open city views, while the flexible floor plan provides the feel of a one-bedroom arrangement. The building was constructed in 1961 and includes newly renovated elevators, a full-time doorman, and a live-in superintendent.
Located at 155 E 34th Street in New York City, the property is near the East River waterfront, ferry service, Grand Central, Penn Station, restaurants, shopping, and public transportation, including the #6 train. Trader Joe’s and Lidl are also nearby. An attached parking garage is available for an additional fee, and residents have access to a furnished rooftop deck with panoramic city views.
Located at 155 E 34th Street in New York City, the property is near the East River waterfront, ferry service, Grand Central, Penn Station, restaurants, shopping, and public transportation, including the #6 train. Trader Joe’s and Lidl are also nearby. An attached parking garage is available for an additional fee, and residents have access to a furnished rooftop deck with panoramic city views.
Key Highlights
- 530‑square‑foot oversized alcove studio with flexible living, dining, and sleeping areas
- Large windows provide abundant natural light and expansive city views
- Full‑time doorman, live‑in superintendent, and newly renovated elevators
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,582
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,640
$331.6K
Cap Rate 7%
$236,886
$236.9K
Cap Rate 9%
$184,244
$184.2K
Market Conditions
NOI Build-Up for 530 SF
Gross rent
$31.7K $59.88/SF
− Vacancy
−$1.6K −$2.99/SF
EGI
$30.1K $56.89/SF
− OpEx
−$13.6K −$25.60/SF
NOI
$16.6K $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 Rate 5%
$331,640
Cap Rate 7%
$236,886
Cap Rate 9%
$184,244
Alternative Uses
Best Use
Apartment 5plus
$236.9K
$207.3K – $276.4K
NOI $16,582 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,841
Businesses Nearby
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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
$928,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in New York City, NY
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Frequently Asked Questions
What type of property is this?
Residential income property - Flexible alcove layout includes a distinct sleeping area, abundant windows, and generous storage.
Where is this residential income property located?
The property is located at 155 E 34th Street 16S New York City, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 530‑square‑foot oversized alcove studio with flexible living, dining, and sleeping areas; Large windows provide abundant natural light and expansive city views; Full‑time doorman, live‑in superintendent, and newly renovated elevators
