Renovated Residential Income
New
For Sale
$450,000
330 3RD Avenue 14L, New York City, NY 10010
Flexible alcove studio with updated finishes, dedicated storage, and full-service building amenities.
Property Size600 SF
Price / SF$750
Days on Market4
Property Features for 330 3RD Avenue 14L
General Information
Standard status
Active
Size
600 SF
Property subtype
Apartment
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour attended lobby
live-in superintendent
package room
mail room
laundry facilities
on-site garage
bike room
private storage
Building Details
Building Size
600 SF
Year Built
1964
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-4235
Listed By:
Andrew D Saracino
(212) 381-4235
Source:
Thethomas
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 4:07AM
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 600-square-foot renovated alcove studio offers a versatile interior arrangement with room for living, sleeping, dining, and work-from-home areas. The entry foyer can accommodate a home office and separate dining space, while the main room provides additional flexibility. The kitchen includes shaker cabinetry, stainless steel appliances, quartz countertops, subway tile backsplash, and under-cabinet lighting. The bathroom features marble tile and a mirrored medicine cabinet. Three custom-fitted closets, including a walk-in closet, and refinished parquet flooring add storage and utility.
The 1964 building provides a 24-hour attended lobby, live-in superintendent, on-site garage, bike room, private storage, package room, mail room, and laundry facilities. Common areas including the lobby, hallways, package room, mail room, and laundry facilities have been renovated. Ownership policies permit co-purchases, pied-à-terres, and up to two dogs weighing no more than 40 lbs. each. Subletting is allowed after two years of ownership for up to four years.
The 1964 building provides a 24-hour attended lobby, live-in superintendent, on-site garage, bike room, private storage, package room, mail room, and laundry facilities. Common areas including the lobby, hallways, package room, mail room, and laundry facilities have been renovated. Ownership policies permit co-purchases, pied-à-terres, and up to two dogs weighing no more than 40 lbs. each. Subletting is allowed after two years of ownership for up to four years.
Key Highlights
- 600‑square‑foot renovated oversized alcove studio
- Flexible layout with living, sleeping, dining, and work‑from‑home areas
- Kitchen with shaker cabinetry, stainless steel appliances, quartz counters, and under‑cabinet lighting
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
$18,772
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
4.17%
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%
$375,440
$375.4K
Cap Rate 7%
$268,171
$268.2K
Cap Rate 9%
$208,578
$208.6K
Market Conditions
NOI Build-Up for 600 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
$35.9K $59.88/SF
− Vacancy
−$1.8K −$2.99/SF
EGI
$34.1K $56.89/SF
− OpEx
−$15.4K −$25.60/SF
NOI
$18.8K $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%
$375,440
Cap Rate 7%
$268,171
Cap Rate 9%
$208,578
Alternative Uses
Best Use
Apartment 5plus
$268.2K
$234.7K – $312.9K
NOI $18,772 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,544 @ 7.0% cap · market cap 23.23%
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 - Flexible alcove studio with updated finishes, dedicated storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 330 3RD Avenue 14L New York City, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 600‑square‑foot renovated oversized alcove studio; Flexible layout with living, sleeping, dining, and work‑from‑home areas; Kitchen with shaker cabinetry, stainless steel appliances, quartz counters, and under‑cabinet lighting
