Residential Income Property with
For Sale
$1,050,000
382 CENTRAL Park W 3X, New York City, NY 10025
One-bedroom condominium with a private terrace, full-service amenities, and Central Park access in Manhattan’s Columbus Square area.
Property Size949 SF
Price / SF$1,106
Days on Market13
Property Features for 382 CENTRAL Park W 3X
General Information
Standard status
Active
Size
949 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private terrace
24-Hour Doorman
Private Driveway Parking Lot
Landscaped Courtyard & Garden
Fitness Center
Laundry Room
Residents' Lounge
Playroom & Playground
Bike Room
Private Storage
Building Details
Building Size
949 SF
Year Built
1961
Listing Agency:
Corcoran Group
(917) 968-1195
Listed By:
Whitney Didier · License #10301211844 (NY)
(917) 968-1195
Source:
Nobleblackandpartners
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 10 at 10:07AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 949-square-foot, one-bedroom condominium occupies a north-facing position within a postwar building completed in 1961. The residence includes a private terrace and is located at 382 Central Park West. Ownership is offered without board approval or an application process, as stated in the property information.
The full-service condominium provides a 24-hour doorman, private driveway parking lot, landscaped courtyard and garden, fitness center, laundry room, residents’ lounge, playroom, playground, bike room, and private storage. Whole Foods, Starbucks, HomeGoods, Target, and Sephora are located outside the building, while Central Park and multiple NYC subway and transportation lines are nearby.
The full-service condominium provides a 24-hour doorman, private driveway parking lot, landscaped courtyard and garden, fitness center, laundry room, residents’ lounge, playroom, playground, bike room, and private storage. Whole Foods, Starbucks, HomeGoods, Target, and Sephora are located outside the building, while Central Park and multiple NYC subway and transportation lines are nearby.
Key Highlights
- 949‑square‑foot one‑bedroom condominium
- Private terrace with north‑facing exposure
- Postwar building completed in 1961
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
$31,239
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
2.98%
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%
$624,780
$624.8K
Cap Rate 7%
$446,271
$446.3K
Cap Rate 9%
$347,100
$347.1K
Market Conditions
NOI Build-Up for 949 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
$59.8K $63.00/SF
− Vacancy
−$3.0K −$3.15/SF
EGI
$56.8K $59.85/SF
− OpEx
−$25.6K −$26.93/SF
NOI
$31.2K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /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%
$624,780
Cap Rate 7%
$446,271
Cap Rate 9%
$347,100
Alternative Uses
Best Use
Apartment 5plus
$446.3K
$390.5K – $520.7K
NOI $31,239 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.75M
$3.28M – $4.37M
NOI $262,380 @ 7.0% cap · market cap 24.99%
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
8,952
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with a private terrace, full-service amenities, and Central Park access in Manhattan’s Columbus Square area.
Where is this residential income property located?
The property is located at 382 CENTRAL Park W 3X New York City, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 949‑square‑foot one‑bedroom condominium; Private terrace with north‑facing exposure; Postwar building completed in 1961
