Residential Income Property with Round-the-Clock
For Sale
$640,000
330 3RD Avenue 15H, New York City, NY 10010
Recently renovated one-bedroom with a south-facing high-floor exposure, plus a round-the-clock doorman and on-site amenities.
Property Size700 SF
Price / SF$914.29
Days on Market64
Property Features for 330 3RD Avenue 15H
General Information
Standard status
Active
Size
700 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
24hr doorman
live-in super
on-site garage
bike and storage rooms
on-site laundry
package and mail rooms
recently renovated lobby and hallways
open kitchen with breakfast bar
stainless steel appliances
dishwasher
microwave
granite countertops
custom cabinetry
hardwood floors
California walk-in closet
extra closets
glass-enclosed bathtub
modern fixtures
custom shelving
track lighting
ceiling fans
moldings
Building Details
Building Size
700 SF
Year Built
1964
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Senad Ahmetovic
(212) 317-7867
Source:
Carlinwright
Added: Jul 23
Changed: Sep 21
Last Checked: Sep 24 at 5:49PM
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.
330 3RD Avenue 15H is a recently renovated one-bedroom unit in a residential income building with a round-the-clock doorman and live-in super. The home features an open kitchen with a breakfast bar and stainless steel appliances, including a dishwasher and microwave. Granite countertops, custom cabinetry, and hardwood floors run throughout. The spacious bedroom can accommodate a king-size bed and desk, and includes a California walk-in closet, with two additional closets in the entryway.
The bathroom has a glass-enclosed bathtub with modern fixtures, lighting, and a large sink. There is extra custom storage and shelving around through-the-wall A/C units in both the bedroom and living room. Other interior details include track lighting, modern ceiling fans, and moldings.
The building includes a recently renovated lobby and hallways, on-site laundry, package and mail rooms, and an on-site garage, along with bike and storage rooms. It was built in 1964. The apartment is dog friendly (up to 2 dogs under 40 lbs each), and sublets are allowed after 2 years. The building also allows co-purchasing and pied-a-terres.
The bathroom has a glass-enclosed bathtub with modern fixtures, lighting, and a large sink. There is extra custom storage and shelving around through-the-wall A/C units in both the bedroom and living room. Other interior details include track lighting, modern ceiling fans, and moldings.
The building includes a recently renovated lobby and hallways, on-site laundry, package and mail rooms, and an on-site garage, along with bike and storage rooms. It was built in 1964. The apartment is dog friendly (up to 2 dogs under 40 lbs each), and sublets are allowed after 2 years. The building also allows co-purchasing and pied-a-terres.
Key Highlights
- Recently renovated one‑bedroom on a high floor with south‑facing exposure and excellent light
- Open kitchen with breakfast bar and stainless steel appliances including dishwasher and microwave
- Granite countertops, custom cabinetry, and hardwood floors throughout
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
3.42%
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 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,968 @ 7.0% cap · market cap 19.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Recently renovated one-bedroom with a south-facing high-floor exposure, plus a round-the-clock doorman and on-site amenities.
Where is this residential income property located?
The property is located at 330 3RD Avenue 15H New York City, NY.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Recently renovated one‑bedroom on a high floor with south‑facing exposure and excellent light; Open kitchen with breakfast bar and stainless steel appliances including dishwasher and microwave; Granite countertops, custom cabinetry, and hardwood floors throughout
