Upgraded Studio Income
For Sale
$335,000
Pending
5 Tudor City Place 2135, New York City, NY 10017
Southeast-facing studio with river and skyline views, upgraded glazing, through-wall HVAC, and a full-size refrigerator.
Property Size330 SF
Days on Market187
Property Features for 5 Tudor City Place 2135
General Information
Standard status
Pending
Size
330 SF
Property subtype
Apartment
Building Details
Building Size
330 SF
Year Built
1900
Listing Agency:
Steven Corcoran Real Estate LLC
(212) 949-6555
Listed By:
Steven Corcoran
(212) 949-6555
Source:
Tricialee
Added: Feb 5
Changed: Aug 11
Last Checked: Aug 10 at 9:34AM
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 Steven Corcoran Real Estate LLC
Investment Insights
Based on property information with market context.
This studio apartment features several functional upgrades, including triple-insulated glass windows and a through-wall HVAC unit for heating and cooling. The kitchenette includes a full-size refrigerator with freezer drawers, composite countertops, and an undermount sink. A modern Murphy bed and built-in cabinetry organize the sleeping area, while a separate alcove provides additional cabinets and dressing space.
Located at 5 Tudor City Place in New York City, the apartment has southeast exposure with views toward the East River and Long Island City. The co-op provides app-enabled laundry facilities and a fitness center on the same level, both available 24/7. Pets, including dogs, are permitted, and subletting is allowed indefinitely after 3 years. Parents may buy for occupants, and a lobby convenience store remains open until midnight throughout the week.
Located at 5 Tudor City Place in New York City, the apartment has southeast exposure with views toward the East River and Long Island City. The co-op provides app-enabled laundry facilities and a fitness center on the same level, both available 24/7. Pets, including dogs, are permitted, and subletting is allowed indefinitely after 3 years. Parents may buy for occupants, and a lobby convenience store remains open until midnight throughout the week.
Key Highlights
- Southeast exposure with views toward the East River and Long Island City
- Triple‑insulated glass windows
- Through‑wall HVAC unit for heating and cooling
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
$10,325
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
3.08%
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%
$206,500
$206.5K
Cap Rate 7%
$147,500
$147.5K
Cap Rate 9%
$114,722
$114.7K
Market Conditions
NOI Build-Up for 330 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
$19.8K $59.88/SF
− Vacancy
−$988 −$2.99/SF
EGI
$18.8K $56.89/SF
− OpEx
−$8.4K −$25.60/SF
NOI
$10.3K $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 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%
$206,500
Cap Rate 7%
$147,500
Cap Rate 9%
$114,722
Alternative Uses
Best Use
Apartment 5plus
$147.5K
$129.1K – $172.1K
NOI $10,325 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$821.4K
$718.7K – $958.3K
NOI $57,499 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Southeast-facing studio with river and skyline views, upgraded glazing, through-wall HVAC, and a full-size refrigerator.
Where is this residential income property located?
The property is located at 5 Tudor City Place 2135 New York City, NY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Southeast exposure with views toward the East River and Long Island City; Triple‑insulated glass windows; Through‑wall HVAC unit for heating and cooling
