HDFC Cooperative Apartment Unit
517 West 48th Street New York Manhattan, NY 10036
New
517 West 48th Street New York, Manhattan, NY, 10036
$305,000
For Sale
$305,000
MULTI_FAMILY - New York (Manhattan), NY
Property Size340 SF
Price / SF$897.06
Days on Market4
Property Features for 517 West 48th Street New York
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 1
- Bathrooms
- 1
- Rooms
- Bedroom 1
- Standard status
- Active
- Size
- 340 SF
Building Details
- Year built
- 1901
Listing agency
NextHome Residential
(212) 300-6140
Listed by
Veronica Matthew
(347) 453-2262
Added: Jul 20 Updated: Jul 22 at 11:11PM Checked: Jul 23 at 5:06AM
MLS# 995618
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
BY APPOINTMENT ONLY. Apartment 3FE is offered as an HDFC cooperative unit in Hell’s Kitchen, New York. The unit is described as having a functional layout and a well-sized closet. The current space is positioned for customization, with the seller encouraging buyers to bring an architect or contractor to modernize and tailor the apartment to personal preferences.
The property is located in the heart of Hell’s Kitchen, with access to nearby dining, nightlife, entertainment, and cultural destinations. The remarks also note proximity to the Theater District, Hudson River Park, Midtown, Hudson Yards, and multiple transportation options.
As an HDFC cooperative, purchases are subject to applicable income restrictions and require board approval, and buyers must meet HDFC income and eligibility guidelines.
The property is located in the heart of Hell’s Kitchen, with access to nearby dining, nightlife, entertainment, and cultural destinations. The remarks also note proximity to the Theater District, Hudson River Park, Midtown, Hudson Yards, and multiple transportation options.
As an HDFC cooperative, purchases are subject to applicable income restrictions and require board approval, and buyers must meet HDFC income and eligibility guidelines.
Key Highlights
- HDFC cooperative with income restrictions and board approval requirements
- Apartment 3FE is a single‑bedroom unit (Bedroom 1 listed)
- Year built: 1901
Local 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 | $20.4k | $59.88 |
| − Vacancy | −$1.0k | −$2.99 |
| EGI | $19.3k | $56.89 |
| − OpEx | −$8.7k | −$25.60 |
| NOI | $10.6k | $31.29 |
340 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$152.0K
$133.0K – $177.3K
NOI $10,638 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$846.3K
$740.5K – $987.4K
NOI $59,242 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Apartment 3FE is in an HDFC cooperative with income restrictions and board approval requirements in Hell’s Kitchen.
Where is this apartment building located?
The property is located at 517 West 48th Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: HDFC cooperative with income restrictions and board approval requirements; Apartment 3FE is a single‑bedroom unit (Bedroom 1 listed); Year built: 1901
