Lane Towers Jr 1/1
For Sale
$269,000
Pending
107-40 Queens Blvd 7G, Queens, NY 11375
Jr 1/1 apartment with city views and great amenities.
Property Size600 SF
Days on Market295
Property Features for 107-40 Queens Blvd 7G
General Information
Standard status
Pending
Size
600 SF
Property subtype
Residential
Building Details
Building Size
600 SF
Year Built
1965
Listing Agency:
NYC Queens Ozone Park
Listed By:
Agatha Lubas · License #10301213345
(646) 250-6512
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 5
Last Checked: Sep 16 at 5:54PM
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 NYC Queens Ozone Park
Investment Insights
Based on property information with market context.
This Jr 1/1 bedroom apartment is located in Lane Towers and features hardwood floors throughout. Wide windows provide ample natural light and city views. The building offers a laundry room on every floor for convenience and a 24-hour doorman service for added security. Residents can enjoy views of Forest Garden Hills and the Manhattan skyline from the 18th-floor terrace. Central air conditioning and heat are available indoors. The building allows cats. The location provides close proximity to schools, bus routes, shops, express trains E, F, M, R Subway, the Long Island Rail Road, and Austin Street shopping and restaurants.
Key Highlights
- Convenient location: Close to schools, shops, Austin Street restaurants, express trains (E, F, M, R), and the Long Island Rail Road.
- 24‑hour doorman service: Provides added security and convenience.
- Hardwood floors and ample natural light: Creates a bright and appealing living space.
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
$14,667
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
5.45%
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%
$293,340
$293.3K
Cap Rate 7%
$209,529
$209.5K
Cap Rate 9%
$162,967
$163.0K
Market Conditions
NOI Build-Up for 600 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
$27.7K $46.20/SF
− Vacancy
−$1.1K −$1.76/SF
EGI
$26.7K $44.44/SF
− OpEx
−$12.0K −$20.00/SF
NOI
$14.7K $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%
$293,340
Cap Rate 7%
$209,529
Cap Rate 9%
$162,967
Alternative Uses
Best Use
Apartment 5plus
$209.5K
$183.3K – $244.5K
NOI $14,667 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.3K
$387.0K – $516.1K
NOI $30,963 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,632
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Jr 1/1 apartment with city views and great amenities.
Where is this apartment building located?
The property is located at 107-40 Queens Blvd 7G Queens, NY.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Convenient location: Close to schools, shops, Austin Street restaurants, express trains (E, F, M, R), and the Long Island Rail Road.; 24‑hour doorman service: Provides added security and convenience.; Hardwood floors and ample natural light: Creates a bright and appealing living space.
