Residential Income Property with
For Sale
$729,000
301 E 78TH Street 10E, New York City, NY 10075
West-facing home offers flexible living space, abundant closets, and a dining area that can convert into a second bedroom.
Property Size900 SF
Price / SF$810
Days on Market29
Property Features for 301 E 78TH Street 10E
General Information
Standard status
Active
Size
900 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR convertible to 2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman
fitness center
central laundry
community room
bike room
storage room
Building Details
Building Size
900 SF
Year Built
1963
Listing Agency:
Corcoran Group
(917) 568-7701
Listed By:
Nancy J Brennan · License #40BR1003977 (NY)
(917) 568-7701
Source:
Cbwarburg
Added: Jul 13
Changed: Aug 9
Last Checked: Aug 10 at 9:22AM
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.
Apartment 10E is a 900-square-foot, west-facing residence with a flexible one-bedroom layout that can accommodate a second bedroom. The entry foyer offers room for a home office, while the 21-foot living room connects to a dining alcove. A hallway with extensive closet storage leads to the bathroom and primary bedroom, and the kitchen has two entry points. The home requires cosmetic upgrades and offers an opportunity for customization.
Lenox House is a full-service co-op built in 1963 with a 24-hour doorman, live-in superintendent, staff, renovated lobby, and new elevators. Building amenities include a fitness center, central laundry, community room, bike room, and storage rooms. A washer/dryer may be installed with board approval. The building permits 75% financing, co-purchasing, parental purchasing, guarantors, and pied-a-terre arrangements on a case-by-case basis, and allows pets.
The property is near restaurants, retail, gourmet markets, parks, the East River Esplanade, and Museum Mile. The 6 and Q subway trains are a few blocks away, with bus service available outside the building.
Lenox House is a full-service co-op built in 1963 with a 24-hour doorman, live-in superintendent, staff, renovated lobby, and new elevators. Building amenities include a fitness center, central laundry, community room, bike room, and storage rooms. A washer/dryer may be installed with board approval. The building permits 75% financing, co-purchasing, parental purchasing, guarantors, and pied-a-terre arrangements on a case-by-case basis, and allows pets.
The property is near restaurants, retail, gourmet markets, parks, the East River Esplanade, and Museum Mile. The 6 and Q subway trains are a few blocks away, with bus service available outside the building.
Key Highlights
- 900 sf west‑facing residence with flexible one‑bedroom layout
- 21‑foot living room with dining alcove convertible to a second bedroom
- Entry foyer suitable for office space and extensive hallway closet storage
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
$28,159
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
3.86%
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%
$563,180
$563.2K
Cap Rate 7%
$402,271
$402.3K
Cap Rate 9%
$312,878
$312.9K
Market Conditions
NOI Build-Up for 900 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
$53.9K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$51.2K $56.89/SF
− OpEx
−$23.0K −$25.60/SF
NOI
$28.2K $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%
$563,180
Cap Rate 7%
$402,271
Cap Rate 9%
$312,878
Alternative Uses
Best Use
Apartment 5plus
$402.3K
$352.0K – $469.3K
NOI $28,159 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,816 @ 7.0% cap · market cap 21.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
24,726
Businesses Nearby
Explore this area
Business Placement
Demographics for 10075, NY
27,796
Population
16,415
Households
1.7
Avg Household Size
41
Median Age
85%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
138,980
Density / Sq Mi
$146,556
Median Household Income
$112,549
Median Earnings
$2,390
Median Rent
$1,097,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - West-facing home offers flexible living space, abundant closets, and a dining area that can convert into a second bedroom.
Where is this residential income property located?
The property is located at 301 E 78TH Street 10E New York City, NY.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: 900 sf west‑facing residence with flexible one‑bedroom layout; 21‑foot living room with dining alcove convertible to a second bedroom; Entry foyer suitable for office space and extensive hallway closet storage
