Residential Income
For Sale
$839,000
240 E 30th Street 2D, New York City, NY 10016
Newly renovated split two-bedroom co-op with hardwood floors, exposed brick, updated bath, and in-building amenities including laundry and bike room.
Property Size950 SF
Price / SF$883.16
Days on Market35
Property Features for 240 E 30th Street 2D
General Information
Standard status
Active
Size
950 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
live-in superintendent
laundry facilities
bike room
common outdoor spaces with BBQ and seating
Building Details
Building Size
950 SF
Year Built
1935
Listing Agency:
Compass
(917) 816-3903
Listed By:
Jill A Camac
(917) 816-3903
Source:
Cbwarburg
Added: Jul 7
Changed: Aug 10
Last Checked: Aug 10 at 9:26AM
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 Compass
Investment Insights
Based on property information with market context.
This newly renovated split two-bedroom co-op features hardwood floors, high ceilings, exposed brick, and custom closets. The open kitchen offers marble counters, high-end stainless appliances, ample cabinetry, and a breakfast bar. The updated bathroom includes a large ceramic-tile and stone shower and a beautiful vanity. The unit is sunny with north and south exposures.
Residents benefit from a live-in superintendent, new laundry facilities, and a bike room. There are also two common outdoor spaces with BBQ and seating. The co-op permits co-purchasers, gifting, guarantors, and pied a terre purchases with board approval, and pets are considered case-by-case.
Built in 1935, the property is configured for a comfortable two-bedroom lifestyle at 950 SF. Nearby conveniences include Fairway, a Kips Bay movie theater, Trader Joe’s, and Whole Foods, with easy access to the 6 train and the Ferry at 34th St.
Residents benefit from a live-in superintendent, new laundry facilities, and a bike room. There are also two common outdoor spaces with BBQ and seating. The co-op permits co-purchasers, gifting, guarantors, and pied a terre purchases with board approval, and pets are considered case-by-case.
Built in 1935, the property is configured for a comfortable two-bedroom lifestyle at 950 SF. Nearby conveniences include Fairway, a Kips Bay movie theater, Trader Joe’s, and Whole Foods, with easy access to the 6 train and the Ferry at 34th St.
Key Highlights
- Newly renovated split two‑bedroom co‑op with hardwood floors, high ceilings, and exposed brick
- Open kitchen with marble counters, high‑end stainless appliances, and a breakfast bar
- Updated bathroom with ceramic‑tile and stone large shower and a vanity
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
$29,723
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
3.54%
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%
$594,460
$594.5K
Cap Rate 7%
$424,614
$424.6K
Cap Rate 9%
$330,256
$330.3K
Market Conditions
NOI Build-Up for 950 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
$56.9K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$54.0K $56.89/SF
− OpEx
−$24.3K −$25.60/SF
NOI
$29.7K $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%
$594,460
Cap Rate 7%
$424,614
Cap Rate 9%
$330,256
Alternative Uses
Best Use
Apartment 5plus
$424.6K
$371.5K – $495.4K
NOI $29,723 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.07M – $2.76M
NOI $165,528 @ 7.0% cap · market cap 19.73%
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
60,751
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 - Newly renovated split two-bedroom co-op with hardwood floors, exposed brick, updated bath, and in-building amenities including laundry and bike room.
Where is this residential income property located?
The property is located at 240 E 30th Street 2D New York City, NY.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: Newly renovated split two‑bedroom co‑op with hardwood floors, high ceilings, and exposed brick; Open kitchen with marble counters, high‑end stainless appliances, and a breakfast bar; Updated bathroom with ceramic‑tile and stone large shower and a vanity
