Residential Income
For Sale
$1,808,000
333 E 34TH Street 1ABC_RES, New York City, NY 10016
Potential residential conversion is subject to appropriate approvals.
Property Size2,260 SF
Price / SF$800
Days on Market137
Property Features for 333 E 34TH Street 1ABC_RES
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Apartment
Building Details
Building Size
2,260 SF
Year Built
1961
Listing Agency:
Corcoran Group
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Nobleblackandpartners
Added: Mar 27
Changed: Aug 5
Last Checked: Aug 10 at 10:00AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This residential income property encompasses 2,260 square feet and was built in 1961. The property is identified at 333 E 34TH Street in New York City, within ZIP Code 10016.
A residential conversion may be possible, subject to appropriate approvals. A potential residential layout could accommodate 4+ bedrooms and 3+ bathrooms, providing a framework for further evaluation and planning.
A residential conversion may be possible, subject to appropriate approvals. A potential residential layout could accommodate 4+ bedrooms and 3+ bathrooms, providing a framework for further evaluation and planning.
Key Highlights
- 2,260‑square‑foot residential income property
- Built in 1961
- Potential residential conversion subject to appropriate approvals
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
$70,709
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
3.91%
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%
$1,414,180
$1.4M
Cap Rate 7%
$1,010,129
$1.0M
Cap Rate 9%
$785,656
$785.7K
Market Conditions
NOI Build-Up for 2,260 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
$135.3K $59.88/SF
− Vacancy
−$6.8K −$2.99/SF
EGI
$128.6K $56.89/SF
− OpEx
−$57.9K −$25.60/SF
NOI
$70.7K $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%
$1,414,180
Cap Rate 7%
$1,010,129
Cap Rate 9%
$785,656
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$883.9K – $1.18M
NOI $70,709 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.63M
$4.92M – $6.56M
NOI $393,782 @ 7.0% cap · market cap 21.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
32,374
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 - Potential residential conversion is subject to appropriate approvals.
Where is this residential income property located?
The property is located at 333 E 34TH Street 1ABC_RES New York City, NY.
What is the asking price?
The asking price for this property is $1,808,000.
What are key features of this property?
This property features: 2,260‑square‑foot residential income property; Built in 1961; Potential residential conversion subject to appropriate approvals
