Convertible 3-Bedroom HDFC
For Sale
$350,000
1993 Amsterdam Avenue 33, New York City, NY 10032
Renovated interiors and a flexible layout allow you to configure a third bedroom option in this HDFC co-op.
Property Size630 SF
Price / SF$555.56
Days on Market75
Property Features for 1993 Amsterdam Avenue 33
General Information
Standard status
Active
Size
630 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Building Size
630 SF
Year Built
1907
Listing Agency:
R New York
(917) 330-5532
Listed By:
Socrates Gomez
(917) 330-5532
Source:
Carlinwright
Added: May 29
Changed: Aug 9
Last Checked: Aug 10 at 9:17AM
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 R New York
Investment Insights
Based on property information with market context.
This convertible HDFC co-op is a thoughtfully renovated, flexible 3-bedroom layout currently set up with two bedrooms and an option to create a third bedroom on the opposite end of the apartment. Two separate rooms near the entrance are divided by a renovated windowed bathroom with contemporary finishes, and each side can serve as bedrooms, an office, nursery space, or a combination of both. Beyond the entry hallway, an open-concept kitchen and living area serves as the center of the home, featuring a renovated kitchen with generous cabinetry, stone counter space, a dishwasher, and a breakfast bar flowing into the dining and living area. Sliding barn doors add flexibility by allowing you to further define the space while maintaining comfortable common living areas. The home also includes multiple windows and high ceilings.
The co-op is subject to 120% AMI income restrictions, with maximum allowable household income limits listed from 1 person ($142,560) through 8 people ($268,680). Financing up to 80% is permitted, and there is a 30% flip tax on profit paid by the seller.
Built in 1907, the unit totals 630 and is located at 1993 Amsterdam Avenue 33. Transportation includes the C train at both the 155th Street and 163rd Street stations, and the 1 train at the 157th Street station.
The co-op is subject to 120% AMI income restrictions, with maximum allowable household income limits listed from 1 person ($142,560) through 8 people ($268,680). Financing up to 80% is permitted, and there is a 30% flip tax on profit paid by the seller.
Built in 1907, the unit totals 630 and is located at 1993 Amsterdam Avenue 33. Transportation includes the C train at both the 155th Street and 163rd Street stations, and the 1 train at the 157th Street station.
Key Highlights
- Renovated kitchen and renovated windowed bathroom with contemporary finishes
- Dishwasher and breakfast bar flowing into the living and dining area
- Convertible setup: currently two bedrooms with option to create a third
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
$19,711
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
5.63%
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%
$394,220
$394.2K
Cap Rate 7%
$281,586
$281.6K
Cap Rate 9%
$219,011
$219.0K
Market Conditions
NOI Build-Up for 630 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
$37.7K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$35.8K $56.89/SF
− OpEx
−$16.1K −$25.60/SF
NOI
$19.7K $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%
$394,220
Cap Rate 7%
$281,586
Cap Rate 9%
$219,011
Alternative Uses
Best Use
Apartment 5plus
$281.6K
$246.4K – $328.5K
NOI $19,711 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,771 @ 7.0% cap · market cap 31.36%
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
6,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 10032, NY
55,170
Population
23,178
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
76%
High-School Grad
0.7 sq mi
ZIP Area
78,814
Density / Sq Mi
$56,588
Median Household Income
$40,755
Median Earnings
$1,546
Median Rent
$545,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated interiors and a flexible layout allow you to configure a third bedroom option in this HDFC co-op.
Where is this residential income property located?
The property is located at 1993 Amsterdam Avenue 33 New York City, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Renovated kitchen and renovated windowed bathroom with contemporary finishes; Dishwasher and breakfast bar flowing into the living and dining area; Convertible setup: currently two bedrooms with option to create a third
