Convertible Four-Bedroom
For Sale
$2,000,000
310 72ND ST, New York, NY 10023
Convertible four-bedroom co-op unit with original pre-war details, including herringbone parquet floors and beamed ceilings.
Property Size2,100 SF
Price / SF$952.38
Days on Market383
Property Features for 310 72ND ST
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Apartment
Amenities
24 hour doorman
bike storage
laundry room
playroom
private storage (for rent)
Window Air Conditioning
Elevator, Foyer Entry
Foyer Entry
3
Building Details
Year Built
1924
Tenancy
Multi
Listing Agency:
Blu Realty Group
(212) 580-8879
Listed By:
Jenny Lee
(212) 580-8879
Source:
Xome
Added: Jul 25, 2025
Changed: Aug 8
Last Checked: Aug 10 at 2:57AM
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 Blu Realty Group
Investment Insights
Based on property information with market context.
This convertible four-bedroom co-op unit features an interior configuration currently laid out as three bedrooms, two and a half baths, and a home office. Pre-war details include original herringbone parquet hardwood floors with inlay border work and beamed ceilings, while the layout offers a starting point for a full renovation. The unit includes a traditional entry foyer leading to an oversized L-shaped great room suitable for a dining table, and an enormous windowed eat-in galley kitchen with a service entrance. The primary bedroom offers an en-suite windowed bathroom with a shower stall and a walk-in closet. Two additional bedrooms include strong closet space, with one bedroom featuring an en-suite windowed powder room.
310 West 72nd Street is a full-service co-op built in 1924 with a 24-hour doorman, bike storage, a laundry room, playroom, and private storage available for rent. The building is described as conveniently located near Riverside Park, Trader Joe’s, Fairway Market, and transportation.
A washer/dryer installation is referenced as being possible with board approval.
310 West 72nd Street is a full-service co-op built in 1924 with a 24-hour doorman, bike storage, a laundry room, playroom, and private storage available for rent. The building is described as conveniently located near Riverside Park, Trader Joe’s, Fairway Market, and transportation.
A washer/dryer installation is referenced as being possible with board approval.
Key Highlights
- Convertible 4‑bedroom co‑op with 3 bedrooms and 2.5 baths plus a home office (as currently laid out)
- Original pre‑war details include herringbone parquet hardwood floors with inlay borders and beamed ceilings
- Oversized L‑shaped great room with southern exposure and space to accommodate a dining table for up to 20 people
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
$65,974
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
3.30%
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%
$1,319,480
$1.3M
Cap Rate 7%
$942,486
$942.5K
Cap Rate 9%
$733,044
$733.0K
Market Conditions
NOI Build-Up for 2,100 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
$126.0K $60.00/SF
− Vacancy
−$6.0K −$2.88/SF
EGI
$120.0K $57.12/SF
− OpEx
−$54.0K −$25.70/SF
NOI
$66.0K $31.42/SF
Area
ZIP 10023
Vacancy
4.80%
Lease Rate
$60.00 /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%
$1,319,480
Cap Rate 7%
$942,486
Cap Rate 9%
$733,044
Alternative Uses
Best Use
Apartment 5plus
$942.5K
$824.7K – $1.10M
NOI $65,974 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,518 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,976
Businesses Nearby
Explore this area
Business Placement
Demographics for 10023, NY
71,164
Population
46,272
Households
1.5
Avg Household Size
42
Median Age
84%
College-Educated
98%
High-School Grad
1.0 sq mi
ZIP Area
71,164
Density / Sq Mi
$157,866
Median Household Income
$109,508
Median Earnings
$3,050
Median Rent
$1,401,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Convertible four-bedroom co-op unit with original pre-war details, including herringbone parquet floors and beamed ceilings.
Where is this residential income property located?
The property is located at 310 72ND ST New York, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Convertible 4‑bedroom co‑op with 3 bedrooms and 2.5 baths plus a home office (as currently laid out); Original pre‑war details include herringbone parquet hardwood floors with inlay borders and beamed ceilings; Oversized L‑shaped great room with southern exposure and space to accommodate a dining table for up to 20 people
