One-Bedroom Condo with Private
For Sale
$585,000
2279 3rd Avenue 3C, New York City, NY 10035
Move-in-ready one-bedroom, one-bath residence with private terrace, in-unit washer/dryer, and through-wall air conditioning.
Property Size757 SF
Price / SF$772.79
Days on Market207
Property Features for 2279 3rd Avenue 3C
General Information
Standard status
Active
Size
757 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$120
Amenities
private terrace
through-wall air conditioning
full-size washer and dryer
24-hour virtual doorman
secure package room
pet-friendly
Building Details
Building Size
757 SF
Year Built
2008
Listing Agency:
Hauseit LLC
(888) 494-8258
Listed By:
Nick Oliver
(888) 494-8258
Source:
Howardhannanyc
Added: Jan 15
Changed: Aug 10
Last Checked: Aug 10 at 9:31AM
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 Hauseit LLC
Investment Insights
Based on property information with market context.
Residence 3C at The Bridges NYC Condominiums is a move-in-ready one-bedroom, one-bath home with a private terrace and a thoughtful interior layout. The residence includes 757 SF of interior space plus a 300 SF private outdoor terrace, with northern and eastern exposures providing natural light. The living area opens to the terrace and is set up for daily use and entertaining, with power and water available outdoors. The modern kitchen features granite countertops, white oak cabinetry with frosted glass fronts, and a pass-through window to the living space.
Conveniences include through-wall air conditioning and a full-size washer and dryer (W/D), along with a spacious entry hallway closet with custom cabinetry. The bedroom offers window light and built-in storage, and the bathroom is finished with porcelain tile and a marble-top vanity.
The boutique, pet-friendly elevator condominium includes a 24-hour virtual doorman and a secure package room. The building benefits from a 421a tax abatement through 2033. Built in 2008, the location places you minutes from the 4/5/6 subway lines, Harlem River Greenway, Mount Sinai, East River Shopping Plaza, and East Harlem’s dining.
Conveniences include through-wall air conditioning and a full-size washer and dryer (W/D), along with a spacious entry hallway closet with custom cabinetry. The bedroom offers window light and built-in storage, and the bathroom is finished with porcelain tile and a marble-top vanity.
The boutique, pet-friendly elevator condominium includes a 24-hour virtual doorman and a secure package room. The building benefits from a 421a tax abatement through 2033. Built in 2008, the location places you minutes from the 4/5/6 subway lines, Harlem River Greenway, Mount Sinai, East River Shopping Plaza, and East Harlem’s dining.
Key Highlights
- 757 SF interior plus 300 SF private terrace
- One‑bedroom, one‑bath residence with power and water on terrace
- Through‑wall air conditioning and full‑size washer and dryer (W/D)
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
$23,684
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
4.05%
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%
$473,680
$473.7K
Cap Rate 7%
$338,343
$338.3K
Cap Rate 9%
$263,156
$263.2K
Market Conditions
NOI Build-Up for 757 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
$45.3K $59.88/SF
− Vacancy
−$2.3K −$2.99/SF
EGI
$43.1K $56.89/SF
− OpEx
−$19.4K −$25.60/SF
NOI
$23.7K $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%
$473,680
Cap Rate 7%
$338,343
Cap Rate 9%
$263,156
Alternative Uses
Best Use
Apartment 5plus
$338.3K
$296.1K – $394.7K
NOI $23,684 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.88M
$1.65M – $2.20M
NOI $131,900 @ 7.0% cap · market cap 22.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in-ready one-bedroom, one-bath residence with private terrace, in-unit washer/dryer, and through-wall air conditioning.
Where is this residential income property located?
The property is located at 2279 3rd Avenue 3C 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: 757 SF interior plus 300 SF private terrace; One‑bedroom, one‑bath residence with power and water on terrace; Through‑wall air conditioning and full‑size washer and dryer (W/D)
