Renovated Residential Income
7 Gracie Square 6C, Manhattan, NY 10028
For Sale
$1,975,000
Pending
Classic six-room apartment with two bedrooms, two and a half baths, renovated kitchen, fireplace, and private storage.
Property Size1,900 SF
Days on Market61
Property Features for 7 Gracie Square 6C
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Amenities
24-hour doormen
live-in resident manager
fitness center
laundry facilities
bicycle storage
private storage
Building Details
Building Size
Year Built
Listing Agency:
Sothebys International Realty
Listed By:
Epo I Manning
(212) 606-7660
Source:
Carytamura
Added: Sep 10
Changed: Oct 31
Last Checked: Nov 8 at 1:07PM
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 Sothebys International Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,900-square-foot, two-bedroom residence combines prewar proportions with updated interiors and a practical six-room layout. The home includes a welcoming entry gallery, living room with high ceilings and a wood-burning fireplace, separate dining room, and a windowed kitchen equipped with a Liebherr refrigerator, Miele dishwasher, custom cabinetry, and substantial storage. A flexible office or guest room sits near the kitchen, while both bedrooms feature large closets and renovated en-suite marble bathrooms. Hardwood floors, through-the-wall air conditioning, custom built-ins, and southern exposure add to the apartment’s functionality. A washer and dryer are permitted, and a private storage cage trades with the residence.
The cooperative building provides 24-hour doormen, a live-in resident manager, fitness center, laundry facilities, bicycle storage, and private storage. Pets are welcome. The property is positioned across from Carl Schurz Park and the East River promenade, with access to landscaped gardens, playgrounds, and waterfront walking and cycling paths.
The cooperative building provides 24-hour doormen, a live-in resident manager, fitness center, laundry facilities, bicycle storage, and private storage. Pets are welcome. The property is positioned across from Carl Schurz Park and the East River promenade, with access to landscaped gardens, playgrounds, and waterfront walking and cycling paths.
Key Highlights
- 1,900‑square‑foot six‑room residence with two bedrooms and two and a half baths
- Renovated windowed kitchen with Liebherr refrigerator, Miele dishwasher, and custom cabinetry
- Living room features high ceilings, hardwood floors, and a wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,446
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,920
$1.2M
Cap Rate 7%
$849,229
$849.2K
Cap Rate 9%
$660,511
$660.5K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$113.8K $59.88/SF
− Vacancy
−$5.7K −$2.99/SF
EGI
$108.1K $56.89/SF
− OpEx
−$48.6K −$25.60/SF
NOI
$59.4K $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%
$1,188,920
Cap Rate 7%
$849,229
Cap Rate 9%
$660,511
Alternative Uses
Best Use
Apartment 5plus
$849.2K
$743.1K – $990.8K
NOI $59,446 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,983 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
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
$1,600,400
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Classic six-room apartment with two bedrooms, two and a half baths, renovated kitchen, fireplace, and private storage.
Where is this residential income property located?
The property is located at 7 Gracie Square 6C Manhattan, NY.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: 1,900‑square‑foot six‑room residence with two bedrooms and two and a half baths; Renovated windowed kitchen with Liebherr refrigerator, Miele dishwasher, and custom cabinetry; Living room features high ceilings, hardwood floors, and a wood‑burning fireplace
