Outer-Corner Two-Bedroom
For Sale
$725,000
550 Grand Street J4B, New York City, NY 10002
Sunny outer-corner 2BR with a flexible layout, approximately 8'6" beamed ceilings, and refinished hardwood parquet floors.
Property Size1,000 SF
Days on Market69
Property Features for 550 Grand Street J4B
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
fitness center
laundry room
children's playroom
private parks and playground
on-site super & maintenance staff
community garden
composting
bike storage
parking
electronics recycling
clothing donation
Building Details
Building Size
1,000 SF
Year Built
1949
Listing Agency:
LoHo Realty Inc
(212) 388-1115
Listed By:
Jacob J Goldman
(212) 388-1115
Source:
Serhant
Added: Jun 4
Changed: Aug 10
Last Checked: Aug 10 at 9:21AM
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 LoHo Realty Inc
Investment Insights
Based on property information with market context.
This sunny outer-corner two-bedroom residence offers a flexible layout with classic prewar proportions and a bright, inviting feel. The expansive living room anchors the home for both everyday comfort and entertaining, with a separate dining area that can also support flexible use. A windowed eat-in kitchen provides an ideal starting point for renovation or reconfiguration.
The thoughtfully arranged layout places two king-sized bedrooms on opposite ends of the home for added privacy, supported by a windowed bathroom serving the bedroom wing. The unit also features approximately 8'6" beamed ceilings, refinished hardwood parquet floors, and abundant closet space throughout, with an entry foyer that adds to the airy, open feel.
Built in 1949, this co-op includes on-site support and a range of community amenities, including a 24/7 fitness center, a 24/7 modern laundry room, a children’s playroom, private parks and playgrounds, a community garden, composting, bike storage, and electronics recycling and clothing donation. Washers/dryers are allowed with management approval. Dogs up to 35 lb are permitted with registration, fee, and approval. Subleasing is allowed after 2 years of ownership. Transportation options include M14A, M14D, M21, and M22 buses, and J, M, and F trains at Delancey & Essex Streets, plus the F train at East Broadway & Rutgers Streets.
The thoughtfully arranged layout places two king-sized bedrooms on opposite ends of the home for added privacy, supported by a windowed bathroom serving the bedroom wing. The unit also features approximately 8'6" beamed ceilings, refinished hardwood parquet floors, and abundant closet space throughout, with an entry foyer that adds to the airy, open feel.
Built in 1949, this co-op includes on-site support and a range of community amenities, including a 24/7 fitness center, a 24/7 modern laundry room, a children’s playroom, private parks and playgrounds, a community garden, composting, bike storage, and electronics recycling and clothing donation. Washers/dryers are allowed with management approval. Dogs up to 35 lb are permitted with registration, fee, and approval. Subleasing is allowed after 2 years of ownership. Transportation options include M14A, M14D, M21, and M22 buses, and J, M, and F trains at Delancey & Essex Streets, plus the F train at East Broadway & Rutgers Streets.
Key Highlights
- Sunny outer‑corner 2BR with a versatile, flexible layout
- Approximately 8'6" beamed ceilings and refinished hardwood parquet floors
- Two king‑sized bedrooms on opposite ends for privacy and flow
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
$31,386
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
4.33%
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%
$627,720
$627.7K
Cap Rate 7%
$448,371
$448.4K
Cap Rate 9%
$348,733
$348.7K
Market Conditions
NOI Build-Up for 1,000 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
$59.9K $59.88/SF
− Vacancy
−$2.8K −$2.81/SF
EGI
$57.1K $57.07/SF
− OpEx
−$25.7K −$25.68/SF
NOI
$31.4K $31.39/SF
Area
ZIP 10002
Vacancy
4.70%
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%
$627,720
Cap Rate 7%
$448,371
Cap Rate 9%
$348,733
Alternative Uses
Best Use
Apartment 5plus
$448.4K
$392.3K – $523.1K
NOI $31,386 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 24.03%
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
6,171
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Sunny outer-corner 2BR with a flexible layout, approximately 8'6" beamed ceilings, and refinished hardwood parquet floors.
Where is this residential income property located?
The property is located at 550 Grand Street J4B New York City, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Sunny outer‑corner 2BR with a versatile, flexible layout; Approximately 8'6" beamed ceilings and refinished hardwood parquet floors; Two king‑sized bedrooms on opposite ends for privacy and flow
