Renovated Residential Income
For Sale
$750,000
Pending
399 E 72ND Street 3D, New York City, NY 10021
One-bedroom co-op residence with updated interiors, custom storage, and full-service building amenities.
Property Size925 SF
Days on Market96
Property Features for 399 E 72ND Street 3D
General Information
Standard status
Pending
Size
925 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
doorman
live-in resident manager
Building Details
Building Size
925 SF
Year Built
1961
Stories
20
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-3217
Listed By:
Sharon L Fahy
(212) 381-3217
Source:
Carytamura
Added: May 7
Changed: Aug 9
Last Checked: Aug 10 at 9:50AM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
Residence 3D is a renovated one-bedroom, one-bathroom co-op with 925 square feet of interior space. The layout includes an extra-large living room and bedroom, both fitted with custom-built cabinetry. A modernized kitchen and updated bathroom provide refreshed functionality, while treetop views and natural light add to the apartment’s character. The property is located within a 20-story building constructed in 1961.
Building services include a doorman, live-in resident manager, and elevators. Pets, pieds-a-terre, and sublets are permitted with Board approval. The property is near the Q and 6 subway lines, with restaurants, grocery stores, educational institutions, and medical services in the surrounding area.
Building services include a doorman, live-in resident manager, and elevators. Pets, pieds-a-terre, and sublets are permitted with Board approval. The property is near the Q and 6 subway lines, with restaurants, grocery stores, educational institutions, and medical services in the surrounding area.
Key Highlights
- 925‑square‑foot one‑bedroom, one‑bathroom co‑op residence
- Renovated kitchen and updated bathroom
- Custom‑built cabinetry in the living room and bedroom
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
$28,941
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
3.86%
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%
$578,820
$578.8K
Cap Rate 7%
$413,443
$413.4K
Cap Rate 9%
$321,567
$321.6K
Market Conditions
NOI Build-Up for 925 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
$55.4K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$52.6K $56.89/SF
− OpEx
−$23.7K −$25.60/SF
NOI
$28.9K $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%
$578,820
Cap Rate 7%
$413,443
Cap Rate 9%
$321,567
Alternative Uses
Best Use
Apartment 5plus
$413.4K
$361.8K – $482.4K
NOI $28,941 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.30M
$2.01M – $2.69M
NOI $161,172 @ 7.0% cap · market cap 21.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
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 - One-bedroom co-op residence with updated interiors, custom storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 399 E 72ND Street 3D New York City, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 925‑square‑foot one‑bedroom, one‑bathroom co‑op residence; Renovated kitchen and updated bathroom; Custom‑built cabinetry in the living room and bedroom
