Residential Income Property with Home
For Sale
$2,295,000
77 BLEECKER Street 812, New York City, NY 10012
High-floor residence combines three bedrooms, four full baths, two offices, and extensive windows in a full-service co-op.
Property Size2,400 SF
Price / SF$956.25
Days on Market50
Property Features for 77 BLEECKER Street 812
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/4BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour doorman/concierge
landscaped garden courtyards
live-in super
laundry rooms
storage
bike room
washer/dryer permitted
pet-friendly
Building Details
Building Size
2,400 SF
Year Built
1930
Listing Agency:
Douglas Elliman Real Estate
(917) 685-4907
Listed By:
ALLISON R DUBUISSON · License #10301217375
(917) 685-4907
Source:
Thethomas
Added: Jun 23
Changed: Aug 9
Last Checked: Aug 10 at 10:02AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This 2,400-square-foot high-floor residence at 77 Bleecker Street combines three bedrooms, four full bathrooms, and two separate home offices or dens. The layout includes a corner living room with 10-foot ceilings, a 26-foot wall of picture windows, and eastern exposure. A renovated open kitchen features marble countertops, stainless steel appliances, and a pantry, while the primary suite offers a dressing room and marble bath with double sinks. The apartment also includes extensive closet storage and a separate dining area.
Bleecker Court is a pet-friendly co-op with a 24-hour doorman and concierge, live-in superintendent, two landscaped courtyards, laundry rooms on many floors, and basement storage and bike-room facilities subject to a waitlist. In-unit washers and dryers are permitted. The property is near restaurants, nightlife, food markets, Soho shopping, Washington Square Park, and multiple subway lines, including the 6, B/D/F, N/R, and A/C/E trains.
Bleecker Court is a pet-friendly co-op with a 24-hour doorman and concierge, live-in superintendent, two landscaped courtyards, laundry rooms on many floors, and basement storage and bike-room facilities subject to a waitlist. In-unit washers and dryers are permitted. The property is near restaurants, nightlife, food markets, Soho shopping, Washington Square Park, and multiple subway lines, including the 6, B/D/F, N/R, and A/C/E trains.
Key Highlights
- 2,400‑square‑foot residence with three bedrooms, four full bathrooms, and two home offices or dens
- High‑floor corner living room with 10‑foot ceilings and a 26‑foot wall of picture windows
- Renovated kitchen with marble countertops, stainless steel appliances, and pantry
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
$75,090
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
3.27%
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%
$1,501,800
$1.5M
Cap Rate 7%
$1,072,714
$1.1M
Cap Rate 9%
$834,333
$834.3K
Market Conditions
NOI Build-Up for 2,400 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
$143.7K $59.88/SF
− Vacancy
−$7.2K −$2.99/SF
EGI
$136.5K $56.89/SF
− OpEx
−$61.4K −$25.60/SF
NOI
$75.1K $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 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%
$1,501,800
Cap Rate 7%
$1,072,714
Cap Rate 9%
$834,333
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$938.6K – $1.25M
NOI $75,090 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.97M
$5.23M – $6.97M
NOI $418,176 @ 7.0% cap · market cap 18.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
34,283
Businesses Nearby
Explore this area
Business Placement
Demographics for 10012, NY
23,125
Population
14,568
Households
1.6
Avg Household Size
35
Median Age
83%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
77,083
Density / Sq Mi
$130,938
Median Household Income
$88,301
Median Earnings
$2,731
Median Rent
$1,500,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - High-floor residence combines three bedrooms, four full baths, two offices, and extensive windows in a full-service co-op.
Where is this residential income property located?
The property is located at 77 BLEECKER Street 812 New York City, NY.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 2,400‑square‑foot residence with three bedrooms, four full bathrooms, and two home offices or dens; High‑floor corner living room with 10‑foot ceilings and a 26‑foot wall of picture windows; Renovated kitchen with marble countertops, stainless steel appliances, and pantry
