Junior One-Bedroom Condo with
For Sale
$549,000
157 E 32ND Street 3E, New York City, NY 10016
Renovated junior one-bedroom at L'Isola Condominium with a large balcony, renovated kitchen, and renovated bath.
Property Size500 SF
Price / SF$1,098
Days on Market102
Property Features for 157 E 32ND Street 3E
General Information
Standard status
Active
Size
500 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Building Details
Building Size
500 SF
Year Built
1988
Listing Agency:
Douglas Elliman Real Estate
(917) 848-8095
Listed By:
RONALD E LENSE · License #30LE0673784
(917) 848-8095
Source:
Cbwarburg
Added: May 1
Changed: Aug 8
Last Checked: Aug 10 at 9:47AM
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.
Renovated and bright junior one-bedroom home at L'Isola Condominium, currently showing as an alcove studio, with a large balcony. The layout includes a fully renovated open kitchen with stainless appliances and quartz counters with countertop seating, plus a separate living area adjacent to the balcony.
The sleeping area is an alcove large enough for a king-sized bed, complemented by customized closet space. The renovated bathroom features floor-to-ceiling porcelain tiling, an oversized medicine cabinet, and a custom glass enclosed tub.
L'Isola is described as a full service condominium in the heart of the Kips Bay neighborhood. The building was built in 1988, offering an established residential setting for an owner or investor.
The sleeping area is an alcove large enough for a king-sized bed, complemented by customized closet space. The renovated bathroom features floor-to-ceiling porcelain tiling, an oversized medicine cabinet, and a custom glass enclosed tub.
L'Isola is described as a full service condominium in the heart of the Kips Bay neighborhood. The building was built in 1988, offering an established residential setting for an owner or investor.
Key Highlights
- Renovated junior one‑bedroom, currently shown as an alcove studio
- Large balcony with separate living area adjacent to the balcony
- Renovated open kitchen with stainless appliances and quartz counters
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
$15,644
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
2.85%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 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
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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 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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 15.87%
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 - Renovated junior one-bedroom at L'Isola Condominium with a large balcony, renovated kitchen, and renovated bath.
Where is this residential income property located?
The property is located at 157 E 32ND Street 3E New York City, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Renovated junior one‑bedroom, currently shown as an alcove studio; Large balcony with separate living area adjacent to the balcony; Renovated open kitchen with stainless appliances and quartz counters
