Renovated One-Bedroom Income
For Sale
$629,000
330 3RD Avenue 4B, New York City, NY 10010
Oversized residence with flexible living space, extensive storage, and updated kitchen and bath finishes.
Property Size700 SF
Price / SF$898.57
Days on Market96
Property Features for 330 3RD Avenue 4B
General Information
Standard status
Active
Size
700 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman
live-in superintendent
renovated hallways
upgraded elevators
updated package and mail rooms
new laundry room
Building Details
Building Size
700 SF
Year Built
1964
Buildings
1
Stories
20
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(845) 709-1184
Listed By:
Stephen Kolka
(845) 709-1184
Source:
Thethomas
Added: May 7
Changed: Aug 10
Last Checked: Aug 10 at 9:26AM
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 one-bedroom residence offers 700 square feet with an expansive 21-foot living and dining room, a proper entry foyer, and five total closets. The layout includes an open kitchen with white cabinetry, stainless steel Samsung appliances, a full-size French-door refrigerator, gas cooking, and counter seating. The king-sized bedroom includes two closets and built-in storage surrounding the windows. Additional features include two newer through-wall GE air-conditioning units with surrounding cabinet storage and a bathroom with a full soaking tub, sliding glass doors, and mirrored medicine cabinet vanity. The home may be converted into a true two-bedroom.
Located at 330 Third Avenue, the residence is near Madison Square Park, Union Square, major subway lines, Think Coffee, a Japanese market, Baruch Plaza, Citi Bike stations, and protected bike lanes. Built in 1964, the 20-story, 206-unit full-service co-op has a 24-hour doorman and live-in superintendent. Recent building upgrades include renovated hallways and lobby areas, upgraded elevators, updated package and mail rooms, and a new laundry room.
Located at 330 Third Avenue, the residence is near Madison Square Park, Union Square, major subway lines, Think Coffee, a Japanese market, Baruch Plaza, Citi Bike stations, and protected bike lanes. Built in 1964, the 20-story, 206-unit full-service co-op has a 24-hour doorman and live-in superintendent. Recent building upgrades include renovated hallways and lobby areas, upgraded elevators, updated package and mail rooms, and a new laundry room.
Key Highlights
- 700 square feet with a 21‑foot living and dining room
- Renovated one‑bedroom layout with potential conversion to a true two‑bedroom
- Open kitchen with Samsung stainless steel appliances, French‑door refrigerator, and gas cooking
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
3.48%
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 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,968 @ 7.0% cap · market cap 19.39%
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 - Oversized residence with flexible living space, extensive storage, and updated kitchen and bath finishes.
Where is this residential income property located?
The property is located at 330 3RD Avenue 4B New York City, NY.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 700 square feet with a 21‑foot living and dining room; Renovated one‑bedroom layout with potential conversion to a true two‑bedroom; Open kitchen with Samsung stainless steel appliances, French‑door refrigerator, and gas cooking
