Renovated Residential Income
New
For Sale
$545,000
370 E 76th Street A1104, New York City, NY 10021
A renovated high-floor studio in a full-service co-op offers flexible living space and western exposure.
Property Size500 SF
Price / SF$1,090
Days on Market7
Property Features for 370 E 76th Street A1104
General Information
Standard status
Active
Size
500 SF
Property subtype
Apartment
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
full-time doorman
secured lobby
rooftop pool
roof deck
laundry room
bike room
garage
valet
storage
Building Details
Building Size
500 SF
Year Built
1966
Listing Agency:
Compass
Listed By:
Elise Flangos
(212) 913-9058
Source:
Lenasimpson
Added: Sep 25
Changed: Sep 28
Last Checked: Sep 30 at 2:37PM
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.
Unit A1104 is a recently renovated alcove studio on a high floor of Newport East, a three-tower co-op built in 1966. The 500-square-foot layout includes defined areas for living, dining, sitting, and sleeping, along with a foyer, dressing area, and built-in closets. Western exposure brings natural light into the residence. Interior features include hardwood floors, high ceilings, custom kitchen cabinetry, marble countertops, stainless steel appliances, and a bathroom with a shower-tub combination. Monthly maintenance includes utilities.
Building amenities include a full-time doorman, rooftop pool and deck, laundry and bike rooms, garage, valet service, and storage. Subletting is permitted for two out of five years; guarantors and parents purchasing for children are welcome. Pets under 30 pounds are allowed, and pied-à-terres are not permitted. The property is located near Second Avenue shops and restaurants, with access to the 4, 5, 6, and Q subway lines.
Building amenities include a full-time doorman, rooftop pool and deck, laundry and bike rooms, garage, valet service, and storage. Subletting is permitted for two out of five years; guarantors and parents purchasing for children are welcome. Pets under 30 pounds are allowed, and pied-à-terres are not permitted. The property is located near Second Avenue shops and restaurants, with access to the 4, 5, 6, and Q subway lines.
Key Highlights
- 500‑square‑foot alcove studio with flexible living, dining, sitting, and sleeping areas
- Recently renovated interior with western exposure, hardwood floors, and high ceilings
- Kitchen includes custom cabinetry, marble counters, and stainless steel appliances
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
$15,644
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
2.87%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 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
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 15.99%
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
23,460
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - A renovated high-floor studio in a full-service co-op offers flexible living space and western exposure.
Where is this residential income property located?
The property is located at 370 E 76th Street A1104 New York City, NY.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 500‑square‑foot alcove studio with flexible living, dining, sitting, and sleeping areas; Recently renovated interior with western exposure, hardwood floors, and high ceilings; Kitchen includes custom cabinetry, marble counters, and stainless steel appliances
