One-Bedroom Residential Income
For Sale
$895,000
333 W 57TH Street 504, New York City, NY 10019
Pre-war condop with garden views, generous storage, full-time doorman service, and access to shared roof decks.
Property Size900 SF
Price / SF$994.44
Days on Market12
Property Features for 333 W 57TH Street 504
General Information
Standard status
Active
Size
900 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Furnished
No
Amenities
doorman
garden
roof deck
BBQ grill
on-site laundry
fitness center
bike storage
storage
pet-friendly
Building Details
Building Size
900 SF
Year Built
1931
Listing Agency:
Corcoran Group
Listed By:
Royce Cara Berler
(212) 361-9995
Source:
Nobleblackandpartners
Added: Sep 14
Changed: Sep 23
Last Checked: Sep 24 at 4:35PM
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.
Unit 504 is a one-bedroom, one-bathroom condop in a low-rise building constructed in 1931. The residence includes a windowed kitchen, separate dining and office areas, an entry foyer, a sunken living room, bay windows, parquet and herringbone flooring, high beamed ceilings, northern exposure, garden views, and extensive closet space. Furnished photographs are virtually staged.
The property is at 333 W 57th Street in New York City’s Midtown West, adjacent to Hell’s Kitchen. Central Park, Lincoln Center, the Theater District, Columbus Circle, Whole Foods, dining, entertainment, cultural destinations, and transportation options are nearby. Building amenities include a full-time doorman, two landscaped gardens, two roof decks with BBQ grills, four elevators, onsite laundry, and a gym. Personal and bike storage are available for an additional fee, subject to a possible waitlist. The building is smoke-free and permits pets.
The property is at 333 W 57th Street in New York City’s Midtown West, adjacent to Hell’s Kitchen. Central Park, Lincoln Center, the Theater District, Columbus Circle, Whole Foods, dining, entertainment, cultural destinations, and transportation options are nearby. Building amenities include a full-time doorman, two landscaped gardens, two roof decks with BBQ grills, four elevators, onsite laundry, and a gym. Personal and bike storage are available for an additional fee, subject to a possible waitlist. The building is smoke-free and permits pets.
Key Highlights
- One‑bedroom, one‑bathroom Unit 504 at 333 W 57th Street
- Built in 1931 with pre‑war architectural details
- Bay windows, high beamed ceilings, parquet and herringbone floors
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
$28,159
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
3.15%
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%
$563,180
$563.2K
Cap Rate 7%
$402,271
$402.3K
Cap Rate 9%
$312,878
$312.9K
Market Conditions
NOI Build-Up for 900 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
$53.9K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$51.2K $56.89/SF
− OpEx
−$23.0K −$25.60/SF
NOI
$28.2K $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%
$563,180
Cap Rate 7%
$402,271
Cap Rate 9%
$312,878
Alternative Uses
Best Use
Apartment 5plus
$402.3K
$352.0K – $469.3K
NOI $28,159 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,816 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
32,136
Businesses Nearby
Explore this area
Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Pre-war condop with garden views, generous storage, full-time doorman service, and access to shared roof decks.
Where is this residential income property located?
The property is located at 333 W 57TH Street 504 New York City, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: One‑bedroom, one‑bathroom Unit 504 at 333 W 57th Street; Built in 1931 with pre‑war architectural details; Bay windows, high beamed ceilings, parquet and herringbone floors
