Rent-Stabilized Studio
For Sale
$299,000
353 W 56TH Street 3J, New York City, NY 10019
Oversized south-facing alcove studio with original pre-war details and a private dressing area in a full-service pre-war building.
Property Size582 SF
Price / SF$513.75
Days on Market121
Property Features for 353 W 56TH Street 3J
General Information
Standard status
Active
Size
582 SF
Property subtype
Apartment
Occupancy
100%
Financials
Gross Income
$816
Average Monthly Rent
$68
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Amenities
full-time doorman
private gardens
billiards room
library
music room
card room
Building Details
Building Size
582 SF
Year Built
1931
Tenancy
Single
Listing Agency:
Douglas Elliman Real Estate
(917) 776-7623
Listed By:
Carter Mchyman · License #10301203065
(917) 776-7623
Source:
Cbwarburg
Added: Apr 7
Changed: Jul 31
Last Checked: Aug 5 at 4:30AM
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
Investment Insights
Based on property information with market context.
A rent-stabilized alcove studio apartment in Parc Vendome with an oversized, nearly 600 SF layout and south-facing exposure. The home is positioned to feel extremely quiet and bright, with a wall of windows facing a tree-lined street. Inside, you’ll find a lovely entry foyer with a very large double hung coat closet, an archway leading to the main living area, and beamed ceilings with original hardwood floors.
The apartment includes an alcove sleeping area that can accommodate a queen sized bed and/or a Murphy bed, along with a kitchen with a window for light and ventilation and original pre-war cabinetry kept intact. A private dressing room area leads to the bathroom and can also serve as a home office.
Built in 1931, Parc Vendome offers a full-time doorman, private gardens, and resident amenities including a billiards room, library, music room, and card room. Common charges include electricity, heat, and hot water. The building is one block from Columbus Circle and Central Park, and Lincoln Center, MoMA, and Hell’s Kitchen are about a 5 minute walk away.
The apartment includes an alcove sleeping area that can accommodate a queen sized bed and/or a Murphy bed, along with a kitchen with a window for light and ventilation and original pre-war cabinetry kept intact. A private dressing room area leads to the bathroom and can also serve as a home office.
Built in 1931, Parc Vendome offers a full-time doorman, private gardens, and resident amenities including a billiards room, library, music room, and card room. Common charges include electricity, heat, and hot water. The building is one block from Columbus Circle and Central Park, and Lincoln Center, MoMA, and Hell’s Kitchen are about a 5 minute walk away.
Key Highlights
- Nearly 600 SF oversized south‑facing alcove studio with quiet, bright exposure
- Rent‑stabilized tenant in place
- Built in 1931; full‑time doorman and private gardens
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.9k | $59.88 |
| − Vacancy | −$1.7k | −$2.99 |
| EGI | $33.1k | $56.89 |
| − OpEx | −$14.9k | −$25.60 |
| NOI | $18.2k | $31.29 |
582 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
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
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,408 @ 7.0% cap · market cap 33.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,819
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Oversized south-facing alcove studio with original pre-war details and a private dressing area in a full-service pre-war building.
Where is this residential income property located?
The property is located at 353 W 56TH Street 3J New York City, 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: Nearly 600 SF oversized south‑facing alcove studio with quiet, bright exposure; Rent‑stabilized tenant in place; Built in 1931; full‑time doorman and private gardens
