Pre-War Alcove Studio
353 W 56TH Street 3J, Manhattan, NY 10019
For Sale
$299,000
A south-facing residence offers a separate dressing area, windowed kitchen, and building amenities including a doorman and private gardens.
Property Size582 SF
Price / SF$513.75
Days on Market217
Property Features for 353 W 56TH Street 3J
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Financials
Gross Income
Average Monthly Rent
HOA Fee
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
full-time doorman
private gardens
billiards room
library
music room
card room
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Carter Mchyman · License NY #10301203065
(917) 776-7623
Source:
Irynaferenets
Added: Apr 7
Changed: Nov 3
Last Checked: Nov 9 at 8:55AM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This 582-square-foot alcove studio in the Parc Vendome includes an entry foyer, a large double-hung coat closet, and an alcove that can accommodate a queen bed or Murphy bed. A converted walk-in closet creates the sleeping area, while a separate dressing room connects to the bathroom and may also serve as a home office. The kitchen has a window and original cabinetry; beamed ceilings and hardwood floors reflect the building’s pre-war character. The apartment is in need of updating and is currently occupied by a rent-stabilized tenant.
Built in 1931, the condominium building has a full-time doorman, private gardens, a billiards room, library, music room, and card room. It is one block from Columbus Circle and Central Park, with Lincoln Center, MoMA, and Hell’s Kitchen described as a five-minute walk. Common charges include electricity, heat, and hot water.
Built in 1931, the condominium building has a full-time doorman, private gardens, a billiards room, library, music room, and card room. It is one block from Columbus Circle and Central Park, with Lincoln Center, MoMA, and Hell’s Kitchen described as a five-minute walk. Common charges include electricity, heat, and hot water.
Key Highlights
- 582‑square‑foot alcove studio with an entry foyer and separate dressing room
- South‑facing apartment with beamed ceilings and hardwood floors
- Windowed kitchen with original cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,209
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,180
$364.2K
Cap Rate 7%
$260,129
$260.1K
Cap Rate 9%
$202,322
$202.3K
Market Conditions
NOI Build-Up for 582 SF
Gross rent
$34.9K $59.88/SF
− Vacancy
−$1.7K −$2.99/SF
EGI
$33.1K $56.89/SF
− OpEx
−$14.9K −$25.60/SF
NOI
$18.2K $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 Rate 5%
$364,180
Cap Rate 7%
$260,129
Cap Rate 9%
$202,322
Alternative Uses
Best Use
Apartment 5plus
$260.1K
$227.6K – $303.5K
NOI $18,209 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$406.9K
$356.0K – $474.7K
NOI $28,482 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,819
Businesses Nearby
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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
$1,066,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - A south-facing residence offers a separate dressing area, windowed kitchen, and building amenities including a doorman and private gardens.
Where is this residential income property located?
The property is located at 353 W 56TH Street 3J Manhattan, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 582‑square‑foot alcove studio with an entry foyer and separate dressing room; South‑facing apartment with beamed ceilings and hardwood floors; Windowed kitchen with original cabinetry
