Residential Income Property with
For Sale
$675,000
157 E 32nd Street 3A, New York City, NY 10016
Updated one-bedroom residence with hardwood floors, renovated bath, and full-service building amenities.
Property Size647 SF
Price / SF$1,043
Days on Market139
Property Features for 157 E 32nd Street 3A
General Information
Standard status
Active
Size
647 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$12,346
Amenities
private balcony
24-hour doorman
fitness center
sauna
landscaped courtyard
grills
on-site laundry
Building Details
Building Size
647 SF
Year Built
1987
Listing Agency:
Daniel Gale of Brooklyn LLC
(845) 797-9582
Listed By:
Lauren Kossover Gallagher
(845) 797-9582
Source:
Cbwarburg
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 10 at 9:14AM
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 Daniel Gale of Brooklyn LLC
Investment Insights
Based on property information with market context.
Residence 3A is a 647-square-foot, updated one-bedroom condominium residence at The L'Isola. The home includes a spacious living area opening to a private balcony, an updated kitchen with granite countertops, stainless steel appliances, and a pass-through, plus a bedroom sized for a king-size bed and a large walk-in closet. A renovated bathroom and hardwood floors extend throughout the residence. Built in 1987, the building provides full-service amenities including a 24-hour doorman, fitness center, sauna, landscaped courtyard with seating and grills, and on-site laundry.
Located on a quiet, tree-lined block in Kips Bay, the property is near restaurants, grocery stores, transportation, and everyday conveniences. Ownership options include pied-à-terre use, with up to 90% financing allowed.
Located on a quiet, tree-lined block in Kips Bay, the property is near restaurants, grocery stores, transportation, and everyday conveniences. Ownership options include pied-à-terre use, with up to 90% financing allowed.
Key Highlights
- 647‑square‑foot one‑bedroom residence with private balcony
- Updated kitchen with granite countertops, stainless steel appliances, and pass‑through
- King‑size bedroom with large walk‑in closet
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
$20,243
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%
$404,860
$404.9K
Cap Rate 7%
$289,186
$289.2K
Cap Rate 9%
$224,922
$224.9K
Market Conditions
NOI Build-Up for 647 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
$38.7K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$36.8K $56.89/SF
− OpEx
−$16.6K −$25.60/SF
NOI
$20.2K $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%
$404,860
Cap Rate 7%
$289,186
Cap Rate 9%
$224,922
Alternative Uses
Best Use
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,243 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,733 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
74,499
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated one-bedroom residence with hardwood floors, renovated bath, and full-service building amenities.
Where is this residential income property located?
The property is located at 157 E 32nd Street 3A New York City, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 647‑square‑foot one‑bedroom residence with private balcony; Updated kitchen with granite countertops, stainless steel appliances, and pass‑through; King‑size bedroom with large walk‑in closet
