Top-Floor Corner Income
New
For Sale
$625,000
345 East 93rd Street, New York, NY 10128
New York, NY
Property Size725 SF
Price / SF$862.07
Days on Market3
Property Features for 345 East 93rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Standard status
Active
Size
725 SF
Amenities
Grand courtyard at building entrance
Renovated double-height lobby and hallways
24-hour concierge staffing two entrances
Live-in resident manager among a dedicated staff of ten
Residents-only, high-ceiling fitness center
Laundry rooms on every floor (mobile app-connected)
Wireless sensor array for building-wide excess water detection
Bicycle and package storage rooms
Attached garage with secure access and resident discount
Landscaped and furnished private sundeck with grill and TV
Pet-friendly homes: cats and up to three dogs
Ready for Verizon Fios, Spectrum, and Astound internet services
new gray plank flooring throughout
ceiling fans
dual-zone, WiFi-enabled heating and cooling system with wireless thermostat control
Building Details
Year built
1975
Listing Agency:
NextHome Residential
(212) 300-6140
Listed By:
Edward Hasicka
(917) 734-3885
Added: Aug 23
Last Checked: Aug 25 at 11:06AM
MLS# 973712
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This top-floor, south-facing corner residence is configured with one bedroom, an open peninsula kitchen, a spacious living area, and a full bathroom. The approximately 725-square-foot home features triple-wide double-glazed windows, a full-width bedroom closet, gray plank flooring, ceiling fans, and dual-zone WiFi-enabled heating and cooling. The bathroom includes a tiled finish, porcelain-topped vanity, mirrored medicine cabinet, and glass-enclosed tub. Laundry machines are positioned directly outside the residence and were installed in June 2024 with mobile app access.
Mill Rock Plaza is a 1975-built, full-service high-rise cooperative with a renovated lobby and hallways, 24-hour concierge coverage, a live-in resident manager, and a residents-only fitness center. Additional building features include laundry facilities on every floor, bicycle and package storage, an attached garage, a private landscaped sundeck, and building-wide excess-water sensors.
The property is located at 345 East 93rd Street in Yorkville, near the FDR Drive, the Q Express subway, Carl Schurz Park, the East River Promenade, Gracie Mansion, and Asphalt Green. The building permits cats and up to three dogs of any size or breed per unit.
Mill Rock Plaza is a 1975-built, full-service high-rise cooperative with a renovated lobby and hallways, 24-hour concierge coverage, a live-in resident manager, and a residents-only fitness center. Additional building features include laundry facilities on every floor, bicycle and package storage, an attached garage, a private landscaped sundeck, and building-wide excess-water sensors.
The property is located at 345 East 93rd Street in Yorkville, near the FDR Drive, the Q Express subway, Carl Schurz Park, the East River Promenade, Gracie Mansion, and Asphalt Green. The building permits cats and up to three dogs of any size or breed per unit.
Key Highlights
- Top‑floor, south‑facing corner one‑bedroom residence
- Approximately 725 square feet with triple‑wide double‑glazed windows
- New on‑floor laundry machines installed in June 2024 with mobile app access
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
$22,636
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
3.62%
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%
$452,720
$452.7K
Cap Rate 7%
$323,371
$323.4K
Cap Rate 9%
$251,511
$251.5K
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
$43.4K $59.88/SF
− Vacancy
−$2.3K −$3.11/SF
EGI
$41.2K $56.77/SF
− OpEx
−$18.5K −$25.54/SF
NOI
$22.6K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
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%
$452,720
Cap Rate 7%
$323,371
Cap Rate 9%
$251,511
Alternative Uses
Best Use
Apartment 5plus
$323.4K
$283.0K – $377.3K
NOI $22,636 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$515.5K
$451.1K – $601.4K
NOI $36,084 @ 7.0% cap · market cap 5.77%
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
15,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom cooperative residence with southern exposure, skyline outlooks, updated flooring, and building-wide full-service amenities.
Where is this residential income property located?
The property is located at 345 East 93rd Street New York, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Top‑floor, south‑facing corner one‑bedroom residence; Approximately 725 square feet with triple‑wide double‑glazed windows; New on‑floor laundry machines installed in June 2024 with mobile app access
