One-Bedroom Income
For Sale
$565,000
5 TUDOR CITY Place 538, New York City, NY 10017
Updated corner apartment in a full-service co-op with river and United Nations views.
Property Size600 SF
Price / SF$941.67
Days on Market276
Property Features for 5 TUDOR CITY Place 538
General Information
Standard status
Active
Size
600 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
24-hour doorman
concierge
live-in-resident manager
laundry room
mini-market
storage room
bike room
package room
recreation room
gym
Building Details
Building Size
600 SF
Year Built
1929
Listing Agency:
Corcoran Group
(551) 206-8594
Listed By:
Michael A Hamberger · License #40HA1083542 (NY)
(551) 206-8594
Source:
Carytamura
Added: Nov 7, 2025
Changed: Aug 10
Last Checked: Aug 10 at 7:14AM
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 600-square-foot corner apartment at 5 Tudor City Place includes one bedroom, two HVAC units, refinished hardwood floors, updated doors and baseboard molding, replacement windows, and ample closet storage. The kitchen has stone countertops, a tile backsplash, and stainless steel appliances, while the bathroom includes updated fixtures and lighting. Built in 1929, the building is a pre-war full-service co-op with a 24-hour doorman, concierge, elevator, resident manager, laundry room, mini-market, storage room, bike room, package room, recreation room, and gym. Utilities are included in monthly maintenance, and pets are permitted with board approval.
The apartment offers east-facing East River views and a north-facing view toward the United Nations. Grand Central Terminal and the 4, 5, 6, and 7 subway lines are 3 blocks away, with LIRR and Metro-North service nearby. Subletting and pied-à-terre use are permitted after 3 years of residence.
The apartment offers east-facing East River views and a north-facing view toward the United Nations. Grand Central Terminal and the 4, 5, 6, and 7 subway lines are 3 blocks away, with LIRR and Metro-North service nearby. Subletting and pied-à-terre use are permitted after 3 years of residence.
Key Highlights
- 600‑square‑foot corner apartment with one bedroom
- Renovated kitchen and updated bathroom
- East River and United Nations views
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
$18,772
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
3.32%
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%
$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
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
$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 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%
$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
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,544 @ 7.0% cap · market cap 18.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
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 - Updated corner apartment in a full-service co-op with river and United Nations views.
Where is this residential income property located?
The property is located at 5 TUDOR CITY Place 538 New York City, 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: 600‑square‑foot corner apartment with one bedroom; Renovated kitchen and updated bathroom; East River and United Nations views
