Two-Bedroom Residential Income
For Sale
$750,000
345 East 93rd Street, New York, NY 10128
New York, NY
Property Size900 SF
Price / SF$833.33
Days on Market8
Property Features for 345 East 93rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1
Standard status
Active
Size
900 SF
Amenities
grand courtyard
renovated lobby and hallways
24-hour concierge
live-in resident manager
fitness center
laundry rooms
wireless water detection
bicycle and package storage
attached garage
private sundeck
pet-friendly
internet services
Building Details
Year built
1975
Listing Agency:
NextHome Residential
(212) 300-6140
Listed By:
Edward Hasicka
(917) 734-3885
Added: Sep 24
Last Checked: Oct 1 at 6:06PM
MLS# 1054782
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.
Set on the 30th floor of Mill Rock Plaza, this 900-square-foot, two-bedroom residence has windows throughout, southern and eastern exposures, an oversized living room, and a windowed bathroom and kitchen. The home retains its original condition, and its column placement supports a range of renovation options. The second bedroom could also serve as a dining room, study, or home office. The property is a cooperative in Yorkville, near the FDR Drive and less than a block from the Q Express subway. Nearby destinations include Carl Schurz Park, the East River Promenade, Gracie Mansion, and Asphalt Green. Building amenities include a 24-hour concierge, a residents-only fitness center, laundry rooms on every floor, bicycle and package storage, an attached garage, and a private sundeck.
Key Highlights
- Two‑bedroom residence with 900 square feet on the 30th floor
- Windows in every room with southern and eastern exposures
- Five floor‑to‑ceiling closets
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
$28,099
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
3.75%
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%
$561,980
$562.0K
Cap Rate 7%
$401,414
$401.4K
Cap Rate 9%
$312,211
$312.2K
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
−$2.8K −$3.11/SF
EGI
$51.1K $56.77/SF
− OpEx
−$23.0K −$25.54/SF
NOI
$28.1K $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%
$561,980
Cap Rate 7%
$401,414
Cap Rate 9%
$312,211
Alternative Uses
Best Use
Apartment 5plus
$401.4K
$351.2K – $468.3K
NOI $28,099 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.9K
$559.9K – $746.6K
NOI $44,793 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Southern and eastern exposures provide natural light in every room, complemented by five floor-to-ceiling closets.
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 $750,000.
What are key features of this property?
This property features: Two‑bedroom residence with 900 square feet on the 30th floor; Windows in every room with southern and eastern exposures; Five floor‑to‑ceiling closets
