High-Floor Residential Income
For Sale
$960,000
399 E 72nd Street 16H, New York City, NY 10021
Flexible cooperative residence with an open kitchen, generous living area, custom storage, and full-service building amenities.
Property Size980 SF
Price / SF$979.59
Days on Market16
Property Features for 399 E 72nd Street 16H
General Information
Standard status
Active
Size
980 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
24-hour doorman
live-in resident manager
Building Details
Building Size
980 SF
Year Built
1961
Listing Agency:
Compass
Listed By:
MAX J MOONDOC
(917) 860-4749
Source:
Bondnyre
Added: Sep 9
Changed: Sep 23
Last Checked: Sep 22 at 8:26PM
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 high-floor cooperative residence offers a flexible interior with an open kitchen, oversized living room, separate dining area, bedroom, and an adjacent room suitable for a nursery, office, or dressing room. The kitchen includes a Sub-Zero refrigerator, Bertazzoni range, stainless steel dishwasher, wood cabinetry, marble counters, exposed brick, and a breakfast bar. A marble-finished bathroom with Kohler fixtures, hardwood plank flooring, custom closets, and built-in storage complete the home. Washer/dryers are permitted with board approval.
East View House is a full-service cooperative with a 24-hour doorman, live-in resident manager, and garage. The building is one block from the Second Avenue Subway, with additional subway options nearby. Pied-a-terres are permitted, dogs under 25 lbs. are allowed, and up to 75% financing is permitted. The property was built in 1961.
East View House is a full-service cooperative with a 24-hour doorman, live-in resident manager, and garage. The building is one block from the Second Avenue Subway, with additional subway options nearby. Pied-a-terres are permitted, dogs under 25 lbs. are allowed, and up to 75% financing is permitted. The property was built in 1961.
Key Highlights
- High‑floor cooperative residence with flexible room configuration
- Open kitchen with Sub‑Zero refrigerator, Bertazzoni range, marble counters, and breakfast bar
- Oversized living room with room for dining, entertaining, and a work area
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
$30,662
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
3.19%
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%
$613,240
$613.2K
Cap Rate 7%
$438,029
$438.0K
Cap Rate 9%
$340,689
$340.7K
Market Conditions
NOI Build-Up for 980 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
$58.7K $59.88/SF
− Vacancy
−$2.9K −$2.99/SF
EGI
$55.7K $56.89/SF
− OpEx
−$25.1K −$25.60/SF
NOI
$30.7K $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%
$613,240
Cap Rate 7%
$438,029
Cap Rate 9%
$340,689
Alternative Uses
Best Use
Apartment 5plus
$438.0K
$383.3K – $511.0K
NOI $30,662 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.44M
$2.13M – $2.85M
NOI $170,755 @ 7.0% cap · market cap 17.79%
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 an open kitchen, generous living area, custom storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 399 E 72nd Street 16H New York City, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: High‑floor cooperative residence with flexible room configuration; Open kitchen with Sub‑Zero refrigerator, Bertazzoni range, marble counters, and breakfast bar; Oversized living room with room for dining, entertaining, and a work area
