Spacious Top-Floor Apartment in Historic
For Sale
$779,000
Pending
86-10 34TH Ave 613, Queens, NY 11372
Large 2-bedroom apartment with extra room in prewar building.
Property Size1,250 SF
Days on Market267
Property Features for 86-10 34TH Ave 613
General Information
Standard status
Pending
Size
1,250 SF
Property subtype
Residential
Building Details
Building Size
1,250 SF
Year Built
1937
Stories
6
Units
84
Listing Agency:
Douglas Elliman Real Estate
(917) 575-1934
Listed By:
Jon Fisher · License #30FI0940753
(917) 575-1934
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 22 at 12:16PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located in the historic district, this top-floor apartment features two large bedrooms and two bathrooms. An additional room can serve as an office, a third bedroom, or a breakfast room. The apartment offers three exposures—north, south, and west—and includes 9-foot ceilings and original 1930 oak floors. The building, an elegant prewar building, provides ample space. The pet-friendly building includes a dog run, live-in super, porter, playroom, laundry room, and garden. Transportation is convenient with access to the E, F, and 7 lines.
Key Highlights
- Top floor unit featuring 2 large bedrooms and 2 bathrooms.
- Extra room ideal for an office, third bedroom, or breakfast room.
- Prewar charm in The Griswold (1937) with original 1930 oak floors and 9ft ceilings.
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
$30,556
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
3.92%
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%
$611,120
$611.1K
Cap Rate 7%
$436,514
$436.5K
Cap Rate 9%
$339,511
$339.5K
Market Conditions
NOI Build-Up for 1,250 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
$57.8K $46.20/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$55.6K $44.44/SF
− OpEx
−$25.0K −$20.00/SF
NOI
$30.6K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /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%
$611,120
Cap Rate 7%
$436,514
Cap Rate 9%
$339,511
Alternative Uses
Best Use
Apartment 5plus
$436.5K
$382.0K – $509.3K
NOI $30,556 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$921.5K
$806.3K – $1.08M
NOI $64,506 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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 - Large 2-bedroom apartment with extra room in prewar building.
Where is this apartment building located?
The property is located at 86-10 34TH Ave 613 Queens, NY.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Top floor unit featuring 2 large bedrooms and 2 bathrooms.; Extra room ideal for an office, third bedroom, or breakfast room.; Prewar charm in The Griswold (1937) with original 1930 oak floors and 9ft ceilings.
