Flexible Residential Income
For Sale
$1,650,000
330 3RD Avenue 3BC, New York City, NY 10010
Spacious three-bedroom residence with three full bathrooms, bright exposures, and an adaptable floor plan.
Property Size1,800 SF
Price / SF$916.67
Days on Market21
Property Features for 330 3RD Avenue 3BC
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Amenities
24-hour doorman
live-in superintendent
laundry room
garage
bike storage
storage units
Building Details
Year Built
1964
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Bryan Tomczuk
(212) 381-6526
Source:
Howardhannanyc
Added: Sep 4
Changed: Sep 22
Last Checked: Sep 24 at 5:01PM
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.
Located at 330 3rd Avenue in New York City, this approximately 1,800-square-foot residence combines three bedrooms, three full bathrooms, and a layout that can be adapted to create a fourth bedroom. The home resulted from combining two residences and includes a 28-foot-long corner living room, an open kitchen, a den or dining area, and a primary bedroom with an en-suite bath. West, North, and East exposures provide natural light and cross-ventilation. Fresh plaster and paint support immediate occupancy, while an alternate floor plan explores relocating the kitchen and potentially adding a fourth bathroom, subject to board approval.
Building amenities include a 24-hour doorman, live-in superintendent, laundry room, garage, bike storage, and storage units available for an additional fee. Renovated hallways and a renovated lobby complement the building services. Co-purchasing, pied-à-terre use, and pets are permitted, including up to two dogs weighing up to 40 pounds each. Subletting is allowed after two years for up to four years total. The property is near supermarkets and daily conveniences, including Morton Williams, D'Agostino, Trader Joe's, and Lidl.
Building amenities include a 24-hour doorman, live-in superintendent, laundry room, garage, bike storage, and storage units available for an additional fee. Renovated hallways and a renovated lobby complement the building services. Co-purchasing, pied-à-terre use, and pets are permitted, including up to two dogs weighing up to 40 pounds each. Subletting is allowed after two years for up to four years total. The property is near supermarkets and daily conveniences, including Morton Williams, D'Agostino, Trader Joe's, and Lidl.
Key Highlights
- Approximately 1,800‑square‑foot residence formed by combining two residences
- Three bedrooms and three full bathrooms, with an alternate plan for a fourth bedroom
- 28‑foot‑long corner living room with West, North, and East exposures
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
$56,317
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
3.41%
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%
$1,126,340
$1.1M
Cap Rate 7%
$804,529
$804.5K
Cap Rate 9%
$625,744
$625.7K
Market Conditions
NOI Build-Up for 1,800 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
$107.8K $59.88/SF
− Vacancy
−$5.4K −$2.99/SF
EGI
$102.4K $56.89/SF
− OpEx
−$46.1K −$25.60/SF
NOI
$56.3K $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%
$1,126,340
Cap Rate 7%
$804,529
Cap Rate 9%
$625,744
Alternative Uses
Best Use
Apartment 5plus
$804.5K
$704.0K – $938.6K
NOI $56,317 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.48M
$3.92M – $5.23M
NOI $313,632 @ 7.0% cap · market cap 19.01%
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
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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 - Spacious three-bedroom residence with three full bathrooms, bright exposures, and an adaptable floor plan.
Where is this residential income property located?
The property is located at 330 3RD Avenue 3BC New York City, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Approximately 1,800‑square‑foot residence formed by combining two residences; Three bedrooms and three full bathrooms, with an alternate plan for a fourth bedroom; 28‑foot‑long corner living room with West, North, and East exposures
