Two-Bedroom Residential
For Sale
$1,245,000
330 E 38TH Street 5K, New York City, NY 10016
Residence with river views, private balcony, marble primary bath, and access to extensive full-service building amenities.
Property Size1,200 SF
Price / SF$1,037
Days on Market268
Property Features for 330 E 38TH Street 5K
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
private balcony
24-hour doorman
concierge
children's playroom
adults lounge
party room
golf simulator
health club and spa
year-round pool
outdoor jogging track
garage service
valet services
pet friendly
Building Details
Building Size
1,200 SF
Year Built
1989
Listing Agency:
Thrasher Real Estate LLC
(917) 622-9418
Listed By:
Rusty Thrasher
(917) 622-9418
Source:
Bondnyre
Added: Nov 15, 2025
Changed: Aug 10
Last Checked: Aug 10 at 9:48AM
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 Thrasher Real Estate LLC
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath residence is positioned within The Corinthian and features a spacious living area framed by 15 feet of bay windows. A private balcony extends from the oversized primary bedroom, which includes an ensuite marble bath. The open kitchen is equipped with stainless appliances and granite countertops, while the second bedroom and bathroom are complemented by abundant closet storage. The residence measures 1,200 square feet and is located at 330 E 38TH Street 5K in New York City.
Building services and amenities include a 24-hour doorman and concierge, attended garage and valet service, and a private health club and spa. Recreational and resident spaces include a 56-foot glass-enclosed year-round pool, golf simulator, adults lounge, party room with open kitchen, children's playroom, landscaped outdoor jogging track, and terraces. Pets are allowed. The building was completed in 1989.
Building services and amenities include a 24-hour doorman and concierge, attended garage and valet service, and a private health club and spa. Recreational and resident spaces include a 56-foot glass-enclosed year-round pool, golf simulator, adults lounge, party room with open kitchen, children's playroom, landscaped outdoor jogging track, and terraces. Pets are allowed. The building was completed in 1989.
Key Highlights
- Two‑bedroom, two‑bath residence measuring 1,200 square feet
- 15 feet of bay windows in the living area
- Private balcony adjoining the oversized primary bedroom
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
$37,545
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
3.02%
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%
$750,900
$750.9K
Cap Rate 7%
$536,357
$536.4K
Cap Rate 9%
$417,167
$417.2K
Market Conditions
NOI Build-Up for 1,200 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
$71.9K $59.88/SF
− Vacancy
−$3.6K −$2.99/SF
EGI
$68.3K $56.89/SF
− OpEx
−$30.7K −$25.60/SF
NOI
$37.5K $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%
$750,900
Cap Rate 7%
$536,357
Cap Rate 9%
$417,167
Alternative Uses
Best Use
Apartment 5plus
$536.4K
$469.3K – $625.8K
NOI $37,545 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.99M
$2.61M – $3.48M
NOI $209,088 @ 7.0% cap · market cap 16.79%
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
55,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residence with river views, private balcony, marble primary bath, and access to extensive full-service building amenities.
Where is this residential income property located?
The property is located at 330 E 38TH Street 5K New York City, NY.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence measuring 1,200 square feet; 15 feet of bay windows in the living area; Private balcony adjoining the oversized primary bedroom
