One-Bedroom Residential Income
For Sale
$565,000
550 Grand Street JGC, New York City, NY 10002
One-bedroom co-op residence with a windowed kitchen, renovated bathroom, and flexible ownership policies.
Property Size750 SF
Price / SF$753.33
Days on Market252
Property Features for 550 Grand Street JGC
General Information
Standard status
Active
Size
750 SF
Property subtype
Apartment
Building Details
Building Size
750 SF
Year Built
1949
Listing Agency:
LoHo Realty Inc
(212) 388-1115
Listed By:
Jacob J Goldman
(212) 388-1115
Source:
Cbwarburg
Added: Dec 1, 2025
Changed: Aug 10
Last Checked: Aug 10 at 6:43AM
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 approximately 750-square-foot one-bedroom co-op residence features a defined entry foyer, separate living and dining areas, and a windowed kitchen with wood cabinetry, quartz counters, stainless-steel appliances, and a dishwasher. The renovated bathroom includes a new vanity, sink, toilet, mirrored medicine cabinet, and recessed tub-surround shelving. The northwest-facing bedroom has two walk-in closets and room for a work area. Beamed ceilings, wood-plank floors, updated lighting and hardware, and refreshed baseboards complete the interior. An alternate floor plan is available for a potential open kitchen arrangement.
Hillman Housing Corporation provides residents with fitness and laundry facilities, bike and cold storage, a children's playroom, community garden, composting, on-site staff, two private parks, and resident playgrounds. The property also offers access to an on-site parking garage, subject to a fee and waitlist. Co-purchasing, gifting, guarantors, parent purchases, pied-a-terre use, and dogs up to 35 lbs are permitted; subletting is allowed after two years of ownership. Essex Crossing, East River Park, the NYC Ferry terminal, M14A, M21, M22, M14D, and the J, M, F, and Z trains are nearby.
Hillman Housing Corporation provides residents with fitness and laundry facilities, bike and cold storage, a children's playroom, community garden, composting, on-site staff, two private parks, and resident playgrounds. The property also offers access to an on-site parking garage, subject to a fee and waitlist. Co-purchasing, gifting, guarantors, parent purchases, pied-a-terre use, and dogs up to 35 lbs are permitted; subletting is allowed after two years of ownership. Essex Crossing, East River Park, the NYC Ferry terminal, M14A, M21, M22, M14D, and the J, M, F, and Z trains are nearby.
Key Highlights
- Approximately 750 square feet with one bedroom and separate living and dining areas
- Windowed kitchen with wood cabinetry, quartz countertops, stainless‑steel appliances, and dishwasher
- Northwest‑facing bedroom with two walk‑in closets and work‑from‑home space
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
$23,540
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
4.17%
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%
$470,800
$470.8K
Cap Rate 7%
$336,286
$336.3K
Cap Rate 9%
$261,556
$261.6K
Market Conditions
NOI Build-Up for 750 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
$44.9K $59.88/SF
− Vacancy
−$2.1K −$2.81/SF
EGI
$42.8K $57.07/SF
− OpEx
−$19.3K −$25.68/SF
NOI
$23.5K $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%
$470,800
Cap Rate 7%
$336,286
Cap Rate 9%
$261,556
Alternative Uses
Best Use
Apartment 5plus
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,680 @ 7.0% cap · market cap 23.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 - One-bedroom co-op residence with a windowed kitchen, renovated bathroom, and flexible ownership policies.
Where is this residential income property located?
The property is located at 550 Grand Street JGC New York City, NY.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Approximately 750 square feet with one bedroom and separate living and dining areas; Windowed kitchen with wood cabinetry, quartz countertops, stainless‑steel appliances, and dishwasher; Northwest‑facing bedroom with two walk‑in closets and work‑from‑home space
