Top Floor One Bedroom
For Sale
$349,000
34-59 89th St 6E, Queens, NY 11372
One bedroom apartment near train and pedestrian thoroughfare.
Property Size725 SF
Days on Market268
Property Features for 34-59 89th St 6E
General Information
Standard status
Active
Size
725 SF
Property subtype
Residential
Building Details
Building Size
725 SF
Year Built
1928
Listing Agency:
(718) 520-0303
Listed By:
Yael Goldman
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 7
Last Checked: Aug 22 at 10:40AM
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 Yael Goldman
Investment Insights
Based on property information with market context.
This top-floor one-bedroom apartment features a windowed kitchen with an open-concept layout and breakfast counter. The kitchen is equipped with stainless steel appliances, including a dishwasher and microwave, sleek stone countertops, a pantry closet, and abundant storage. The unit has hardwood floors, closets, and a custom windowed bath with a glass shower/tub enclosure. Pets are welcome. The apartment is located two blocks from the train and one block from 34th Avenue pedestrian thoroughfare. Travers Park and a weekend Farmers Market are nearby. Dining options are available on 37th Avenue. The building has a magic pass laundry system and storage is available with a waitlist.
Key Highlights
- No board approval required.
- Enjoy breathtaking views from this top floor unit.
- Close proximity to train (2 blocks).
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
$17,722
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
5.08%
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%
$354,440
$354.4K
Cap Rate 7%
$253,171
$253.2K
Cap Rate 9%
$196,911
$196.9K
Market Conditions
NOI Build-Up for 725 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
$33.5K $46.20/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$32.2K $44.44/SF
− OpEx
−$14.5K −$20.00/SF
NOI
$17.7K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /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%
$354,440
Cap Rate 7%
$253,171
Cap Rate 9%
$196,911
Alternative Uses
Best Use
Apartment 5plus
$253.2K
$221.5K – $295.4K
NOI $17,722 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$534.5K
$467.7K – $623.6K
NOI $37,413 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - One bedroom apartment near train and pedestrian thoroughfare.
Where is this apartment building located?
The property is located at 34-59 89th St 6E Queens, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: No board approval required.; Enjoy breathtaking views from this top floor unit.; Close proximity to train (2 blocks).
