Residential Income Property with Bonus
New
For Sale
$595,000
345 East 93rd Street New York, Manhattan, NY 10128
New York (Manhattan), NY
Property Size808 SF
Price / SF$736.39
Days on Market1
Property Features for 345 East 93rd Street New York
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Standard status
Active
Size
808 SF
Amenities
grand courtyard
renovated double-height lobby
24-hour concierge
live-in resident manager
fitness center
laundry rooms
bicycle storage
package storage
attached garage
private sundeck
pet-friendly
Building Details
Year built
1975
Listing Agency:
NextHome Residential
(212) 300-6140
Listed By:
Edward Hasicka
(917) 734-3885
Added: Aug 20
Last Checked: Aug 20 at 4:06PM
MLS# 1040971
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 one-bedroom residential income property at Mill Rock Plaza offers approximately 808 SF of living space, including an oversized bedroom, a flexible bonus room, six closets, and separate living and dining areas. The windowed bonus room can serve as a nursery or home office. Custom interior details include granite windowsills, inset closet doors, organized bedroom storage, overhead lighting, and a redesigned bathroom with golden onyx tile, a stone vanity, and a glass-enclosed tub. The expanded K-line kitchen features Bordeaux granite counters, custom cabinetry with integrated lighting, a Liebherr stainless refrigerator with wine storage, and Bosch appliances.
Mill Rock Plaza is a full-service high-rise cooperative in Yorkville, near the FDR Drive and less than a block from the Q Express subway. Building amenities include a renovated double-height lobby, 24-hour concierge service, a residents-only fitness center, laundry rooms on every floor, bicycle and package storage, an attached garage, and a furnished private sundeck with a gas grill and television. Carl Schurz Park, the East River Promenade, Gracie Mansion, and Asphalt Green are nearby.
Mill Rock Plaza is a full-service high-rise cooperative in Yorkville, near the FDR Drive and less than a block from the Q Express subway. Building amenities include a renovated double-height lobby, 24-hour concierge service, a residents-only fitness center, laundry rooms on every floor, bicycle and package storage, an attached garage, and a furnished private sundeck with a gas grill and television. Carl Schurz Park, the East River Promenade, Gracie Mansion, and Asphalt Green are nearby.
Key Highlights
- Approximately 808 SF with an oversized bedroom and flexible windowed bonus room
- Six closets plus two organized bedroom closets and custom inset storage doors
- Expanded kitchen with Bordeaux granite counters and Bosch appliances
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
$25,227
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
4.24%
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%
$504,540
$504.5K
Cap Rate 7%
$360,386
$360.4K
Cap Rate 9%
$280,300
$280.3K
Market Conditions
NOI Build-Up for 808 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
$48.4K $59.88/SF
− Vacancy
−$2.5K −$3.11/SF
EGI
$45.9K $56.77/SF
− OpEx
−$20.6K −$25.54/SF
NOI
$25.2K $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%
$504,540
Cap Rate 7%
$360,386
Cap Rate 9%
$280,300
Alternative Uses
Best Use
Apartment 5plus
$360.4K
$315.3K – $420.5K
NOI $25,227 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.5K
$502.7K – $670.3K
NOI $40,215 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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 residence with an adaptable windowed room, custom storage, and an expanded kitchen suited to entertaining.
Where is this residential income property located?
The property is located at 345 East 93rd Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Approximately 808 SF with an oversized bedroom and flexible windowed bonus room; Six closets plus two organized bedroom closets and custom inset storage doors; Expanded kitchen with Bordeaux granite counters and Bosch appliances
