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    332 71St St New York, NY 10021
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    332 71St St New York, NY 10021

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    • Mixed-use properties
    • 9,735 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 332 71St St

    Property size
    9,735 SF
    Property type
    Mixed-use properties
    Property subtype
    Apartment buildings

    Description

    This meticulously renovated five-story walk-up apartment building at 332 East 71st Street in New York City's Upper East Side offers 20 residential units totaling 9,735 square feet. Eighteen units are free-market, and two are rent-stabilized. The building boasts 25 feet of frontage on East 71st Street, between 1st and 2nd Avenues. All units and common areas have undergone a complete gut renovation, featuring high-end finishes such as walnut hardwood floors, exposed brick, recessed lighting, granite countertops, stainless steel appliances, espresso cabinets, crown and baseboard moldings, luxury marble bathrooms, split-system HVAC units, and in-unit Bosch washers and dryers. Two ground-floor units include private backyards; one is a four-bedroom, two-bathroom duplex, and the other is a one-bedroom, one-bathroom unit. The building's prime location offers convenient access to the 72nd Street Q train and 68th Street 6 train subway stations. The asking price is $9,250,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9574
    Latitude
    40.7672

    Comparable in this City

    • Value Estimation
      $4,805,000
      12,750 SF

      343 76th St

      APARTMENT HOUSE (5+ UNITS) • 12,750 SF
      343 76th St, New York, NY 10021-2404
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    • Value Estimation
      $6,270,000
      16,086 SF

      345 76th St

      APARTMENT HOUSE (5+ UNITS) • 16,086 SF
      345 76th St, New York, NY 10021-2417
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    • Value Estimation
      $8,315,000
      32,640 SF

      114-116 71st St, Unit 14

      APARTMENT HOUSE (5+ UNITS) • 32,640 SF
      114-116 71st St, New York, NY 10021
      View Details
    • Value Estimation
      $4,990,000
      19,134 SF

      425 74th St

      APARTMENT HOUSE (5+ UNITS) • 19,134 SF
      425 74th St, New York, NY 10021-3951
      View Details
    • Value Estimation
      $3,625,000
      7,783 SF

      49 74th St

      APARTMENT HOUSE (5+ UNITS) • 7,783 SF
      49 74th St, New York, NY 10021-2710
      View Details
    • Value Estimation
      $4,435,000
      13,482 SF

      490 74th St

      APARTMENT HOUSE (5+ UNITS) • 13,482 SF
      490 74th St, New York, NY 10021-3963
      View Details

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    New York, NY 10021
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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