Post-War Residential Income
For Sale
$950,000
399 E 72ND Street 12H, New York City, NY 10021
Flexible cooperative residence with abundant natural light, renovated finishes, full-time doorman service, elevator access, and garage parking.
Property Size1,013 SF
Price / SF$937.81
Days on Market71
Property Features for 399 E 72ND Street 12H
General Information
Standard status
Active
Size
1,013 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
full-time doorman
pet-friendly
in-unit washer/dryer
Building Details
Building Size
1,013 SF
Year Built
1961
Listing Agency:
Corcoran Group
(212) 317-7889
Listed By:
Tim Cass
(212) 317-7889
Source:
Cbwarburg
Added: Jun 1
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 1,013-square-foot post-war cooperative residence at 399 East 72nd Street, Unit 12H, is located on the 12th floor of a low-rise building constructed in 1961. Currently configured as a two-bedroom, the layout can be arranged as a spacious one-bedroom with a dedicated home office. North, east, and west exposures provide abundant natural light and city views. The residence includes parquet flooring, double-pane windows, a separate sleeping or office area, and generous closet storage with a walk-in closet.
The kitchen features a pass-through design, new appliances, and a window, while the dining area connects with the living room. Additional improvements include a renovated marble bathroom and Miele washer and dryer. Building amenities include a full-time doorman and elevator service, along with garage parking and a pet-friendly policy. The property is one block from the Q train and near Central Park, cultural attractions, shopping, and dining in Lenox Hill.
The kitchen features a pass-through design, new appliances, and a window, while the dining area connects with the living room. Additional improvements include a renovated marble bathroom and Miele washer and dryer. Building amenities include a full-time doorman and elevator service, along with garage parking and a pet-friendly policy. The property is one block from the Q train and near Central Park, cultural attractions, shopping, and dining in Lenox Hill.
Key Highlights
- 1,013 SF cooperative residence on the 12th floor
- Flexible layout currently used as a two‑bedroom; can be configured as a one‑bedroom with home office
- North, east, and west exposures with city views and abundant natural light
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
$31,694
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
3.34%
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%
$633,880
$633.9K
Cap Rate 7%
$452,771
$452.8K
Cap Rate 9%
$352,156
$352.2K
Market Conditions
NOI Build-Up for 1,013 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
$60.7K $59.88/SF
− Vacancy
−$3.0K −$2.99/SF
EGI
$57.6K $56.89/SF
− OpEx
−$25.9K −$25.60/SF
NOI
$31.7K $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%
$633,880
Cap Rate 7%
$452,771
Cap Rate 9%
$352,156
Alternative Uses
Best Use
Apartment 5plus
$452.8K
$396.2K – $528.2K
NOI $31,694 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.52M
$2.21M – $2.94M
NOI $176,505 @ 7.0% cap · market cap 18.58%
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
25,716
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 cooperative residence with abundant natural light, renovated finishes, full-time doorman service, elevator access, and garage parking.
Where is this residential income property located?
The property is located at 399 E 72ND Street 12H New York City, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1,013 SF cooperative residence on the 12th floor; Flexible layout currently used as a two‑bedroom; can be configured as a one‑bedroom with home office; North, east, and west exposures with city views and abundant natural light
