Renovated Residential Income
For Sale
$550,000
330 3RD Avenue 10J, New York City, NY 10010
High-floor corner studio in a full-service cooperative with a windowed kitchen, private sleeping alcove, and extensive storage.
Property Size575 SF
Days on Market12
Property Features for 330 3RD Avenue 10J
General Information
Standard status
Active
Size
575 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
doorman
live-in superintendent
renovated lobby
package & mail rooms
laundry facilities
on-site parking garage
bike storage
private storage
pet-friendly community
Building Details
Building Size
575 SF
Year Built
1964
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-4235
Listed By:
Andrew D Saracino
(212) 381-4235
Source:
Tricialee
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 10 at 9:46AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This renovated high-floor corner alcove studio is positioned within a full-service cooperative built in 1964. The residence has a windowed kitchen with custom cabinetry and Gallery stainless steel appliances, along with a windowed bathroom finished with premium fixtures. Five south-facing windows bring natural light into the living and dining area, which connects to a separate sleeping alcove. Three closets include a dressing area beside the bathroom, and the layout may accommodate conversion to a junior one-bedroom.
Building services include a 24-hour doorman, live-in superintendent, renovated common areas, package and mail rooms, laundry facilities, an on-site parking garage, bike storage, and private storage. The cooperative permits pets, co-purchases, pied-à-terres, and subletting after two years of ownership, subject to stated conditions. The property is in Kips Bay/Gramercy near transportation, parks, restaurants, nightlife, and shopping.
Building services include a 24-hour doorman, live-in superintendent, renovated common areas, package and mail rooms, laundry facilities, an on-site parking garage, bike storage, and private storage. The cooperative permits pets, co-purchases, pied-à-terres, and subletting after two years of ownership, subject to stated conditions. The property is in Kips Bay/Gramercy near transportation, parks, restaurants, nightlife, and shopping.
Key Highlights
- Renovated high‑floor corner alcove studio with five south‑facing windows
- Windowed kitchen with custom cabinetry and Gallery stainless steel appliances
- Potential layout conversion to a junior one‑bedroom
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
$17,990
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
3.27%
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%
$359,800
$359.8K
Cap Rate 7%
$257,000
$257.0K
Cap Rate 9%
$199,889
$199.9K
Market Conditions
NOI Build-Up for 575 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
$34.4K $59.88/SF
− Vacancy
−$1.7K −$2.99/SF
EGI
$32.7K $56.89/SF
− OpEx
−$14.7K −$25.60/SF
NOI
$18.0K $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%
$359,800
Cap Rate 7%
$257,000
Cap Rate 9%
$199,889
Alternative Uses
Best Use
Apartment 5plus
$257.0K
$224.9K – $299.8K
NOI $17,990 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,188 @ 7.0% cap · market cap 18.22%
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
49,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 10010, NY
33,991
Population
19,014
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
84,978
Density / Sq Mi
$156,127
Median Household Income
$109,691
Median Earnings
$3,113
Median Rent
$1,037,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - High-floor corner studio in a full-service cooperative with a windowed kitchen, private sleeping alcove, and extensive storage.
Where is this residential income property located?
The property is located at 330 3RD Avenue 10J New York City, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Renovated high‑floor corner alcove studio with five south‑facing windows; Windowed kitchen with custom cabinetry and Gallery stainless steel appliances; Potential layout conversion to a junior one‑bedroom
