One-Bedroom Residential Income
For Sale
$499,000
570 Grand Street H1603, New York City, NY 10002
High-floor co-op residence with park, East River, and Williamsburg Bridge views.
Property Size550 SF
Price / SF$907.27
Days on Market16
Property Features for 570 Grand Street H1603
General Information
Standard status
Active
Size
550 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
24-hour attended lobbies
private parks
children's playroom
community room
fitness center
Building Details
Building Size
550 SF
Year Built
1955
Listing Agency:
LoHo Realty Inc
Listed By:
Jacob J Goldman
(212) 388-1115
Source:
Thethomas
Added: Sep 10
Changed: Sep 23
Last Checked: Sep 24 at 5:23PM
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 high-floor co-op residence offers 550 square feet with an efficient one-bedroom layout. The main living area provides room for seating and dining, while two east-facing windows bring in natural light and overlook the private landscaped park, East River, and Williamsburg Bridge. The bedroom accommodates a king-sized bed and additional furnishings. A recessed Pullman kitchen, tiled bathroom with bathtub, three closets, and hardwood parquet flooring complete the home.
The co-op was built in 1955 and provides 24-hour attended lobbies, two private parks, a children's playroom, community room, and fitness center. Residents can also access the neighboring Hillman co-op's park and playroom. Nearby conveniences include a supermarket, 24-hour deli, dry cleaners, Market, Doughnut Plant, Kossar's, Trader Joe's, Target, and Regal Cinemas. Bus service includes the M14A, M14D, M21, and M22; J, M, F, and Z trains are also available, with Citibike stations nearby.
Gifting, guarantors, pied-a-terre use, and subleasing after two years of ownership are permitted. Dogs are not permitted.
The co-op was built in 1955 and provides 24-hour attended lobbies, two private parks, a children's playroom, community room, and fitness center. Residents can also access the neighboring Hillman co-op's park and playroom. Nearby conveniences include a supermarket, 24-hour deli, dry cleaners, Market, Doughnut Plant, Kossar's, Trader Joe's, Target, and Regal Cinemas. Bus service includes the M14A, M14D, M21, and M22; J, M, F, and Z trains are also available, with Citibike stations nearby.
Gifting, guarantors, pied-a-terre use, and subleasing after two years of ownership are permitted. Dogs are not permitted.
Key Highlights
- 550 SF high‑floor co‑op residence with one‑bedroom layout
- East‑facing windows overlook a landscaped private park, East River, and Williamsburg Bridge
- Recessed Pullman kitchen, tiled bathroom with bathtub, three closets, and hardwood parquet floors
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
$17,262
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
3.46%
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%
$345,240
$345.2K
Cap Rate 7%
$246,600
$246.6K
Cap Rate 9%
$191,800
$191.8K
Market Conditions
NOI Build-Up for 550 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
$32.9K $59.88/SF
− Vacancy
−$1.5K −$2.81/SF
EGI
$31.4K $57.07/SF
− OpEx
−$14.1K −$25.68/SF
NOI
$17.3K $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%
$345,240
Cap Rate 7%
$246,600
Cap Rate 9%
$191,800
Alternative Uses
Best Use
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,262 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,832 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - High-floor co-op residence with park, East River, and Williamsburg Bridge views.
Where is this residential income property located?
The property is located at 570 Grand Street H1603 New York City, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 550 SF high‑floor co‑op residence with one‑bedroom layout; East‑facing windows overlook a landscaped private park, East River, and Williamsburg Bridge; Recessed Pullman kitchen, tiled bathroom with bathtub, three closets, and hardwood parquet floors
