Renovated Residential Income
For Sale
$380,000
330 3RD Avenue 8K, New York City, NY 10010
Corner studio with a galley kitchen, windowed bathroom, and dedicated dressing area.
Property Size500 SF
Days on Market288
Property Features for 330 3RD Avenue 8K
General Information
Standard status
Active
Size
500 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Amenities
24-hour doorman
live-in superintendent
newly renovated lobby
newly renovated hallways
package/mail rooms
laundry facilities
on-site garage
bike room
storage
pet-friendly
Building Details
Building Size
500 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: Oct 27, 2025
Changed: Aug 8
Last Checked: Aug 10 at 10:06AM
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 corner studio at 330 3RD Avenue, Unit 8K, features a broad galley kitchen with maple cabinetry, white quartz counters, and full-size appliances. The windowed bathroom includes a soaking tub and contemporary fixtures. A separate dressing area provides a double-deep closet and storage cabinetry, while the entry foyer adds utility and coat storage. The layout can be reconfigured as a junior one-bedroom.
Built in 1964, the full-service building includes a 24-hour doorman, live-in superintendent, renovated common areas, package and mail rooms, laundry facilities, an on-site garage, bike room, and storage. The property is pet-friendly, permits co-purchases and pied-à-terres, and allows subletting after two years for up to four years. The residence also offers views of the Chrysler Building and access to nearby parks, dining, nightlife, and transportation options.
Built in 1964, the full-service building includes a 24-hour doorman, live-in superintendent, renovated common areas, package and mail rooms, laundry facilities, an on-site garage, bike room, and storage. The property is pet-friendly, permits co-purchases and pied-à-terres, and allows subletting after two years for up to four years. The residence also offers views of the Chrysler Building and access to nearby parks, dining, nightlife, and transportation options.
Key Highlights
- Renovated corner studio with Chrysler Building views
- Galley kitchen with maple cabinetry, white quartz countertops, and full‑size appliances
- Windowed bathroom with soaking tub and modern fixtures
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
$15,644
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
4.12%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 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
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 22.93%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Corner studio with a galley kitchen, windowed bathroom, and dedicated dressing area.
Where is this residential income property located?
The property is located at 330 3RD Avenue 8K New York City, NY.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Renovated corner studio with Chrysler Building views; Galley kitchen with maple cabinetry, white quartz countertops, and full‑size appliances; Windowed bathroom with soaking tub and modern fixtures
