Turnkey Prewar Co-op Studio
5 TUDOR CITY Place 538, Manhattan, NY 10017
For Sale
$565,000
Mint-condition studio co-op with a recent gut renovation, new kitchen and bath, and prewar details like hardwood floors and casement windows.
Property Size600 SF
Price / SF$941.67
Days on Market368
Property Features for 5 TUDOR CITY Place 538
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
Tudor City Greens
24-hour attended lobby
live-in Resident Manager
on-site laundry
fitness center
convenience store
bike storage
storage rooms
Building Details
Building Size
Year Built
Listing Agency:
Corcoran Group
Listed By:
Michael A Hamberger · License NY 40HA1083542
(551) 206-8594
Source:
Carlinwright
Added: Nov 7, 2025
Changed: Nov 9
Last Checked: Nov 8 at 2:59PM
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
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Investment Insights
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This mint-condition studio co-op unit has been recently gut renovated and is positioned for move-in-ready living. The apartment includes new electric and new plumbing, flawless hardwood floors, a new kitchen, and a new bathroom. Preserved prewar character shows through with beamed 9' ceilings and casement windows, while the layout supports efficient, usable space.
Practical storage is built in with both a walk-in and a utility closet. The kitchen offers quartz countertops and a cafe-style dining area, and there is an alcove suitable for a Murphy bed and additional work-from-home space.
The building is Windsor Tower, built in 1929. It is a full-service, elevator co-op with a 24-hour attended lobby and a live-in Resident Manager. Residents also have access to a large on-site laundry facility with app-operated machines, a recently-updated 2,500 SF fitness center, and a convenience store in the lobby open until midnight. The building is smoke-free, pets are permitted with board approval, and sublets are allowed with board approval after three years as a primary residence. Pied-a-terre is also allowed.
Practical storage is built in with both a walk-in and a utility closet. The kitchen offers quartz countertops and a cafe-style dining area, and there is an alcove suitable for a Murphy bed and additional work-from-home space.
The building is Windsor Tower, built in 1929. It is a full-service, elevator co-op with a 24-hour attended lobby and a live-in Resident Manager. Residents also have access to a large on-site laundry facility with app-operated machines, a recently-updated 2,500 SF fitness center, and a convenience store in the lobby open until midnight. The building is smoke-free, pets are permitted with board approval, and sublets are allowed with board approval after three years as a primary residence. Pied-a-terre is also allowed.
Key Highlights
- Recently gut renovated studio co‑op with new electric and new plumbing
- Hardwood floors, beamed 9' ceilings, and casement windows
- New kitchen and new bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,772
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,440
$375.4K
Cap Rate 7%
$268,171
$268.2K
Cap Rate 9%
$208,578
$208.6K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$35.9K $59.88/SF
− Vacancy
−$1.8K −$2.99/SF
EGI
$34.1K $56.89/SF
− OpEx
−$15.4K −$25.60/SF
NOI
$18.8K $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%
$375,440
Cap Rate 7%
$268,171
Cap Rate 9%
$208,578
Alternative Uses
Best Use
Apartment 5plus
$268.2K
$234.7K – $312.9K
NOI $18,772 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$419.5K
$367.0K – $489.4K
NOI $29,363 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
38,346
Businesses Nearby
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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
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - Mint-condition studio co-op with a recent gut renovation, new kitchen and bath, and prewar details like hardwood floors and casement windows.
Where is this residential income property located?
The property is located at 5 TUDOR CITY Place 538 Manhattan, NY.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Recently gut renovated studio co‑op with new electric and new plumbing; Hardwood floors, beamed 9' ceilings, and casement windows; New kitchen and new bathroom
