Two-Level Residential Income
For Sale
$2,850,000
7 GRACIE Square 2/3CD, New York City, NY 10028
A prewar cooperative residence combines separate entertaining and bedroom levels with full-service building amenities.
Property Size2,850 SF
Price / SF$1,000
Days on Market127
Property Features for 7 GRACIE Square 2/3CD
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Amenities
24-hour doorman
concierge
live-in superintendent
fitness center
bike storage
pet-friendly
central air conditioning
wood-burning fireplace
washer and dryer
storage units
Building Details
Building Size
2,850 SF
Year Built
1929
Listing Agency:
Serhant
Listed By:
Mallory G Bogard
(405) 317-5687
Source:
Serhant
Added: Jun 4
Changed: Oct 7
Last Checked: Oct 7 at 4:28PM
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 Serhant
Investment Insights
Based on property information with market context.
This two-level residential income property spans approximately 2,850 square feet in a 1929 cooperative building. Private entrances serve both floors. The entertaining level has formal living and dining rooms and a kitchen equipped with Sub-Zero and Wolf appliances. Upstairs are four bedrooms, including three with ensuite baths, along with a separate home office, a wood-burning fireplace, central air conditioning, and an oversized washer and dryer. The residence has nearly 9.5-foot ceilings and 24 windows; two storage units are included.
Key Highlights
- Approximately 2,850 square feet across two levels
- Four bedrooms, including three with ensuite baths
- Private entry from both the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,169
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,783,380
$1.8M
Cap Rate 7%
$1,273,843
$1.3M
Cap Rate 9%
$990,767
$990.8K
Market Conditions
NOI Build-Up for 2,850 SF
Gross rent
$170.7K $59.88/SF
− Vacancy
−$8.5K −$2.99/SF
EGI
$162.1K $56.89/SF
− OpEx
−$73.0K −$25.60/SF
NOI
$89.2K $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 Rate 5%
$1,783,380
Cap Rate 7%
$1,273,843
Cap Rate 9%
$990,767
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.49M
NOI $89,169 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.09M
$6.21M – $8.28M
NOI $496,584 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
12,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 10028, NY
48,116
Population
29,535
Households
1.6
Avg Household Size
39
Median Age
83%
College-Educated
98%
High-School Grad
0.3 sq mi
ZIP Area
160,387
Density / Sq Mi
$168,125
Median Household Income
$116,860
Median Earnings
$2,702
Median Rent
$1,600,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A prewar cooperative residence combines separate entertaining and bedroom levels with full-service building amenities.
Where is this residential income property located?
The property is located at 7 GRACIE Square 2/3CD New York City, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Approximately 2,850 square feet across two levels; Four bedrooms, including three with ensuite baths; Private entry from both the second and third floors
