Prewar Residential Income
For Sale
$1,295,000
350 E 77TH Street 2AB, New York City, NY 10075
Art Deco apartment with flexible three-bedroom potential, renovated kitchen, abundant storage, and access to Upper East Side amenities.
Property Size1,355 SF
Days on Market36
Property Features for 350 E 77TH Street 2AB
General Information
Standard status
Active
Size
1,355 SF
Property subtype
Apartment
Building Details
Building Size
1,355 SF
Year Built
1939
Listing Agency:
Coldwell Banker Warburg
(917) 653-5651
Listed By:
Rachel A Ostow Lustbader
(917) 653-5651
Source:
Tricialee
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 10 at 9:46AM
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 Coldwell Banker Warburg
Investment Insights
Based on property information with market context.
This residential income property is a 1,355-square-foot, two-bedroom, two-bath apartment in a 1939 Art Deco building. The combination layout centers on a dining area and approximately 12' X 20' living room, with separate bedroom wings for added privacy. A renovated windowed kitchen includes stainless steel appliances, Caesarstone countertops, custom cabinetry, and subway-tile backsplashes. The primary suite offers a windowed marble ensuite bath, two walk-in closets, and an elevated office, den, or media area. The second bedroom features bay windows, while approved plans permit its division into two rooms. Hardwood floors, period details, and extensive storage continue throughout the apartment.
Building amenities include a renovated period lobby, landscaped roof deck, laundry room, bike room, package room, video intercom, live-in superintendent, and porter. Pets are welcome. The property is two blocks from John Jay Park and near Second and Lexington Avenue subway and bus service, museums, restaurants, and shops in the Upper East Side.
Building amenities include a renovated period lobby, landscaped roof deck, laundry room, bike room, package room, video intercom, live-in superintendent, and porter. Pets are welcome. The property is two blocks from John Jay Park and near Second and Lexington Avenue subway and bus service, museums, restaurants, and shops in the Upper East Side.
Key Highlights
- 1,355‑square‑foot apartment with two bedrooms and two full baths
- Approved plans allow the second bedroom to be divided into two rooms
- Renovated windowed kitchen with stainless steel appliances and Caesarstone counters
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
$42,394
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
3.27%
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%
$847,880
$847.9K
Cap Rate 7%
$605,629
$605.6K
Cap Rate 9%
$471,044
$471.0K
Market Conditions
NOI Build-Up for 1,355 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
$81.1K $59.88/SF
− Vacancy
−$4.1K −$2.99/SF
EGI
$77.1K $56.89/SF
− OpEx
−$34.7K −$25.60/SF
NOI
$42.4K $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%
$847,880
Cap Rate 7%
$605,629
Cap Rate 9%
$471,044
Alternative Uses
Best Use
Apartment 5plus
$605.6K
$529.9K – $706.6K
NOI $42,394 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.37M
$2.95M – $3.93M
NOI $236,095 @ 7.0% cap · market cap 18.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,791
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 - Art Deco apartment with flexible three-bedroom potential, renovated kitchen, abundant storage, and access to Upper East Side amenities.
Where is this residential income property located?
The property is located at 350 E 77TH Street 2AB New York City, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 1,355‑square‑foot apartment with two bedrooms and two full baths; Approved plans allow the second bedroom to be divided into two rooms; Renovated windowed kitchen with stainless steel appliances and Caesarstone counters
