HDFC Cooperative Apartment Unit
For Sale
$305,000
517 West 48th Street New York, Manhattan, NY 10036
MULTI_FAMILY - New York (Manhattan), NY
Property Size340 SF
Price / SF$897.06
Days on Market12
Property Features for 517 West 48th Street New York
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full 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
Changed: Jul 22
Last Checked: Jul 31 at 10:06PM
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
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 10036, NY
33,868
Population
22,473
Households
1.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
84,670
Density / Sq Mi
$100,225
Median Household Income
$86,122
Median Earnings
$2,301
Median Rent
$988,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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
