High-Floor Corner Income
For Sale
$575,000
240 E 35TH Street 9B, New York City, NY 10016
One-bedroom residence with updated finishes, dual exposures, and access to full-service building amenities.
Property Size700 SF
Days on Market139
Property Features for 240 E 35TH Street 9B
General Information
Standard status
Active
Size
700 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
24-hour doorman
live-in superintendent
roof deck
laundry
bike storage
on-site garage
Building Details
Building Size
700 SF
Year Built
1956
Listing Agency:
Douglas Elliman Real Estate
(917) 675-5048
Listed By:
MELINDA SICARI · License #10301210251
(917) 675-5048
Source:
Serhant
Added: Apr 9
Changed: Aug 23
Last Checked: Aug 24 at 12:39PM
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.
Residence 9B is a high-floor corner one-bedroom with dual exposures, open city views, and an airy interior. The layout includes an entry foyer with substantial storage, a living and dining area, a renovated kitchen with white cabinetry, quartz countertops, and stainless steel appliances, plus a bedroom sized for a queen bed and additional furnishings. A custom wall-to-wall closet and a contemporary bathroom with white tile add practical functionality.
The building provides full-service amenities including a 24-hour doorman, live-in superintendent, roof deck with city and river views, laundry, bike storage, and an on-site garage. Flexible ownership policies include pied-à-terre use, co-purchasing, guarantors, and gifting. The residence is located near multiple subway lines, Trader Joe’s, Fairway, Target, dining, and fitness options in Murray Hill.
The building provides full-service amenities including a 24-hour doorman, live-in superintendent, roof deck with city and river views, laundry, bike storage, and an on-site garage. Flexible ownership policies include pied-à-terre use, co-purchasing, guarantors, and gifting. The residence is located near multiple subway lines, Trader Joe’s, Fairway, Target, dining, and fitness options in Murray Hill.
Key Highlights
- High‑floor corner one‑bedroom with dual exposures and open city views
- Renovated kitchen with quartz countertops, white cabinetry, and stainless steel appliances
- Entry foyer, spacious living and dining area, and custom wall‑to‑wall bedroom 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
$21,901
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
3.81%
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%
$438,020
$438.0K
Cap Rate 7%
$312,871
$312.9K
Cap Rate 9%
$243,344
$243.3K
Market Conditions
NOI Build-Up for 700 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
$41.9K $59.88/SF
− Vacancy
−$2.1K −$2.99/SF
EGI
$39.8K $56.89/SF
− OpEx
−$17.9K −$25.60/SF
NOI
$21.9K $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%
$438,020
Cap Rate 7%
$312,871
Cap Rate 9%
$243,344
Alternative Uses
Best Use
Apartment 5plus
$312.9K
$273.8K – $365.0K
NOI $21,901 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,968 @ 7.0% cap · market cap 21.21%
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
59,430
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with updated finishes, dual exposures, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 240 E 35TH Street 9B New York City, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: High‑floor corner one‑bedroom with dual exposures and open city views; Renovated kitchen with quartz countertops, white cabinetry, and stainless steel appliances; Entry foyer, spacious living and dining area, and custom wall‑to‑wall bedroom closet
