Full-Floor Residential Income
For Sale
$2,995,000
350 E 72ND Street 3, New York City, NY 10021
Upper East Side condominium residence with private elevator access, classic detailing, flexible den, and full-service building amenities.
Property Size2,800 SF
Price / SF$1,069
Days on Market9
Property Features for 350 E 72ND Street 3
General Information
Standard status
Active
Size
2,800 SF
Elevators
Yes
Property subtype
Apartment
Property Condition
Severity
Repairs Needed
Evidence
awaits only cosmetic updating
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private elevator landing
Juliet balcony
Jacuzzi tub
24-hour doorman and concierge
live-in superintendent
private storage
bicycle room
Building Details
Building Size
2,800 SF
Year Built
1988
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Maria Elena Scotto
(917) 559-2044
Source:
Lenasimpson
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 24 at 4:31PM
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.
This full-floor residential income property at 350 E 72nd Street offers approximately 2,800 square feet with 3 bedrooms and 2.5 baths. A private elevator landing opens to a detailed foyer and an expansive living and dining great room. The layout also includes a formal dining room, Juliet balcony, wood-paneled library or den, and a primary suite with sitting area and en-suite marble bath with Jacuzzi tub. Custom storage, wainscoting, crown molding, and elegant fixtures extend throughout the residence. The home is well maintained and requires cosmetic updating.
Le Chambord is a boutique, full-service condominium completed in 1988. Building services and amenities include a 24-hour doorman and concierge, live-in superintendent, private storage, and bicycle room. Pets are welcome. The property is positioned between First and Second Avenues, with access to the Second Avenue Q subway and nearby restaurants, shopping, and parks.
Le Chambord is a boutique, full-service condominium completed in 1988. Building services and amenities include a 24-hour doorman and concierge, live-in superintendent, private storage, and bicycle room. Pets are welcome. The property is positioned between First and Second Avenues, with access to the Second Avenue Q subway and nearby restaurants, shopping, and parks.
Key Highlights
- Approximately 2,800 square feet with 3 bedrooms and 2.5 baths
- Full‑floor layout with private elevator landing
- Library/den can function as a fourth bedroom, home office, or media room
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
$87,604
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
2.93%
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%
$1,752,080
$1.8M
Cap Rate 7%
$1,251,486
$1.3M
Cap Rate 9%
$973,378
$973.4K
Market Conditions
NOI Build-Up for 2,800 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
$167.7K $59.88/SF
− Vacancy
−$8.4K −$2.99/SF
EGI
$159.3K $56.89/SF
− OpEx
−$71.7K −$25.60/SF
NOI
$87.6K $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%
$1,752,080
Cap Rate 7%
$1,251,486
Cap Rate 9%
$973,378
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,604 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.97M
$6.10M – $8.13M
NOI $487,872 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 10021, NY
45,691
Population
29,248
Households
1.6
Avg Household Size
41
Median Age
81%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
114,228
Density / Sq Mi
$156,712
Median Household Income
$99,886
Median Earnings
$3,002
Median Rent
$1,529,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper East Side condominium residence with private elevator access, classic detailing, flexible den, and full-service building amenities.
Where is this residential income property located?
The property is located at 350 E 72ND Street 3 New York City, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Approximately 2,800 square feet with 3 bedrooms and 2.5 baths; Full‑floor layout with private elevator landing; Library/den can function as a fourth bedroom, home office, or media room
