South-Facing Residential Income
For Sale
$720,000
333 E 34th Street 3H, New York City, NY 10016
One-bedroom condominium residence with soundproof windows, abundant storage, and full-service building amenities.
Property Size715 SF
Price / SF$1,006
Days on Market15
Property Features for 333 E 34th Street 3H
General Information
Standard status
Active
Size
715 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1BR
Multifamily Units
1
Additional Details
HOA Fee
$210
Taxes and HOA fees
Annual Taxes
$10,788
Amenities
24-hour doorman
live-in resident manager
multiple laundry rooms
bike storage
on-site garage parking
landscaped roof deck
pet friendly
Citiquiet sound proof windows
Building Details
Building Size
715 SF
Year Built
1961
Listing Agency:
Compass
Listed By:
Jason Lee
(917) 238-4506
Source:
Miradorrealestate
Added: Sep 10
Changed: Sep 21
Last Checked: Sep 22 at 10:24PM
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 Compass
Investment Insights
Based on property information with market context.
This 715-square-foot one-bedroom condominium residence has a south-facing exposure and a well-proportioned living and dining area. The kitchen includes granite countertops and backsplash, stainless steel appliances, a dishwasher, a microwave, and extensive cabinetry. Citiquiet soundproof windows are installed throughout, while the king-size bedroom and multiple large closets add practical comfort and storage. The property was built in 1961.
The Devon Condominium provides full-service residential operations with a 24-hour doorman, live-in resident manager, multiple laundry rooms, bike storage, on-site garage parking, and a landscaped roof deck offering 360-degree views of Manhattan and the East River. The address is near Grand Central Terminal, the United Nations, NYU Medical Center, the East River Ferry, the 6 train, and the Midtown Tunnel. The building is pet friendly and situated near restaurants, cafes, nightlife, Trader Joe's, and Fairway.
The Devon Condominium provides full-service residential operations with a 24-hour doorman, live-in resident manager, multiple laundry rooms, bike storage, on-site garage parking, and a landscaped roof deck offering 360-degree views of Manhattan and the East River. The address is near Grand Central Terminal, the United Nations, NYU Medical Center, the East River Ferry, the 6 train, and the Midtown Tunnel. The building is pet friendly and situated near restaurants, cafes, nightlife, Trader Joe's, and Fairway.
Key Highlights
- 715‑square‑foot one‑bedroom condominium residence
- South‑facing exposure with natural light throughout the day
- Granite kitchen with stainless steel appliances, dishwasher, microwave, and abundant cabinetry
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
$22,370
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
3.11%
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%
$447,400
$447.4K
Cap Rate 7%
$319,571
$319.6K
Cap Rate 9%
$248,556
$248.6K
Market Conditions
NOI Build-Up for 715 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
$42.8K $59.88/SF
− Vacancy
−$2.1K −$2.99/SF
EGI
$40.7K $56.89/SF
− OpEx
−$18.3K −$25.60/SF
NOI
$22.4K $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%
$447,400
Cap Rate 7%
$319,571
Cap Rate 9%
$248,556
Alternative Uses
Best Use
Apartment 5plus
$319.6K
$279.6K – $372.8K
NOI $22,370 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,582 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - One-bedroom condominium residence with soundproof windows, abundant storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 333 E 34th Street 3H New York City, NY.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 715‑square‑foot one‑bedroom condominium residence; South‑facing exposure with natural light throughout the day; Granite kitchen with stainless steel appliances, dishwasher, microwave, and abundant cabinetry
