Two-Bedroom Residential Income
For Sale
$1,495,000
360 E 72nd Street B1601, New York City, NY 10021
Flexible dining space can be enclosed as a third bedroom, supporting adaptable residential use.
Property Size1,350 SF
Price / SF$1,107
Days on Market11
Property Features for 360 E 72nd Street B1601
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Amenities
24-hour doormen
concierge service
fitness center
rooftop deck
on-site garage
Building Details
Building Size
1,350 SF
Year Built
1963
Listing Agency:
Compass
Listed By:
Jack Elliot Heard
(347) 931-6355
Source:
Lenasimpson
Added: Sep 8
Changed: Sep 17
Last Checked: Sep 17 at 12:18AM
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 Compass
Investment Insights
Based on property information with market context.
This 1,350-square-foot, two-bedroom residence features oversized windows, a generous living room, separate dining space, large bedrooms, and extensive closet storage. The dining area can be enclosed to create a third bedroom, home office, or additional living space. The apartment has been well maintained and offers a flexible layout with clear separation between living and sleeping areas.
The property is in a full-service cooperative built in 1963, with 24-hour doormen, concierge service, a fitness center, rooftop deck, on-site garage, and ground-floor commercial tenants. Monthly maintenance includes all utilities. The building permits pets, co-purchasing, pied-a-terres, 75% financing, and guarantors, and is located one block from the Q train.
The property is in a full-service cooperative built in 1963, with 24-hour doormen, concierge service, a fitness center, rooftop deck, on-site garage, and ground-floor commercial tenants. Monthly maintenance includes all utilities. The building permits pets, co-purchasing, pied-a-terres, 75% financing, and guarantors, and is located one block from the Q train.
Key Highlights
- 1,350 SF two‑bedroom residence with oversized windows
- Dining area can be enclosed as a third bedroom
- Large living room, separate dining area, and generous bedrooms
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
$42,238
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
2.83%
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%
$844,760
$844.8K
Cap Rate 7%
$603,400
$603.4K
Cap Rate 9%
$469,311
$469.3K
Market Conditions
NOI Build-Up for 1,350 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
$80.8K $59.88/SF
− Vacancy
−$4.0K −$2.99/SF
EGI
$76.8K $56.89/SF
− OpEx
−$34.6K −$25.60/SF
NOI
$42.2K $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%
$844,760
Cap Rate 7%
$603,400
Cap Rate 9%
$469,311
Alternative Uses
Best Use
Apartment 5plus
$603.4K
$528.0K – $704.0K
NOI $42,238 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.36M
$2.94M – $3.92M
NOI $235,224 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Flexible dining space can be enclosed as a third bedroom, supporting adaptable residential use.
Where is this residential income property located?
The property is located at 360 E 72nd Street B1601 New York City, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 1,350 SF two‑bedroom residence with oversized windows; Dining area can be enclosed as a third bedroom; Large living room, separate dining area, and generous bedrooms
