Spacious Studio Apartment in
For Sale
$249,000
Pending
70-25 Yellowstone Blvd 24B, Queens, NY 11375
Studio apartment near Austin Street with modern amenities.
Property Size510 SF
Days on Market272
Property Features for 70-25 Yellowstone Blvd 24B
General Information
Standard status
Pending
Size
510 SF
Property subtype
Residential
Building Details
Building Size
510 SF
Year Built
1964
Listing Agency:
SBNY RE
(917) 686-6088
Listed By:
Steven Baroumis · License #10491204003
(917) 686-6088
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 24
Last Checked: Aug 25 at 11:56AM
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 SBNY RE
Investment Insights
Based on property information with market context.
This spacious studio apartment faces the front of the building and features new paint, a new kitchen floor, a new stove, and a new refrigerator. The property is offered in as-is condition. Maintenance includes central air, central heat, cooking gas, and basic cable. Gerard Towers is a 25-story fireproof high-rise building located around the corner from Austin Street. Building amenities include a 24-hour doorman, a seasonal heated pool, a fitness center, a children's playroom, bike and storage rooms, and immediate valet parking. The building is located steps from the E and F express trains, the Long Island Railroad, The West Side Tennis Club, restaurants, bakeries, boutique shops, and movie theaters. The building features a new lobby, and a Trader Joe's is located across the street. Gerard Towers is a cat-friendly building.
Key Highlights
- Prime Location: Steps to express E & F trains, Long Island Railroad, Austin Street shops/restaurants, and Trader Joe's across the street.
- All‑Inclusive Maintenance: Covers central air/heat, cooking gas, and basic cable.
- 24‑Hour Doorman: Provides security and convenience.
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
$12,467
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
5.01%
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%
$249,340
$249.3K
Cap Rate 7%
$178,100
$178.1K
Cap Rate 9%
$138,522
$138.5K
Market Conditions
NOI Build-Up for 510 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
$23.6K $46.20/SF
− Vacancy
−$895 −$1.76/SF
EGI
$22.7K $44.44/SF
− OpEx
−$10.2K −$20.00/SF
NOI
$12.5K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /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%
$249,340
Cap Rate 7%
$178,100
Cap Rate 9%
$138,522
Alternative Uses
Best Use
Apartment 5plus
$178.1K
$155.8K – $207.8K
NOI $12,467 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.0K
$329.0K – $438.6K
NOI $26,318 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Studio apartment near Austin Street with modern amenities.
Where is this apartment building located?
The property is located at 70-25 Yellowstone Blvd 24B Queens, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Prime Location: Steps to express E & F trains, Long Island Railroad, Austin Street shops/restaurants, and Trader Joe's across the street.; All‑Inclusive Maintenance: Covers central air/heat, cooking gas, and basic cable.; 24‑Hour Doorman: Provides security and convenience.
