Renovated Corner
549 W 123rd St Unit 549 New York, NY 10027
549 W 123rd St Unit 549, New York, NY, 10027
$685,000
For Sale
$685,000
Newly renovated 2BR/1BA corner unit with eat-in kitchen, island, marble bathroom, and fresh finishes in a six-building complex.
Property Size950 SF
Price / SF$721.05
Days on Market1135
Property Features for 549 W 123rd St Unit 549
General Information
- Standard status
- Active
- Size
- 950 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1957
Listing agency
(212) 891-7000
Listed by
Douglas Elliman Real Estate
(917) 256-9921
Source
Xome
Added: Jun 13, 2023 Updated: Jul 21 at 2:18AM Checked: Jul 21 at 3:04AM
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 newly renovated corner apartment offers 2 bedrooms and 1 bathroom with approximately 950 square feet of space. The layout includes an open, windowed eat-in kitchen with an island, new cabinets, marble countertops, and new floors. The home also features freshly painted interiors, nice new wood floors, a newly updated marble bathroom, extra-high ceilings, and ample storage with eight closets in total.
The apartment is located at 549 W 123rd St, Unit 549, in Morningside Gardens, a community complex of six buildings on eight acres of landscaped gardens. Residents have access to a range of amenities including a state-of-the-art gym, children’s indoor playrooms, an outdoor playground, day care, indoor activity rooms, laundry, storage, parking garage, pet-friendly accommodations, and 24/7 security with an easy board process.
Convenience is a key part of the offering, with nearby bus and subway service listed as steps away from the 1/2/3/A/B/C/D trains, as well as M4 and multiple bus routes. Showing is described as easy, with calls welcomed for a private showing.
The apartment is located at 549 W 123rd St, Unit 549, in Morningside Gardens, a community complex of six buildings on eight acres of landscaped gardens. Residents have access to a range of amenities including a state-of-the-art gym, children’s indoor playrooms, an outdoor playground, day care, indoor activity rooms, laundry, storage, parking garage, pet-friendly accommodations, and 24/7 security with an easy board process.
Convenience is a key part of the offering, with nearby bus and subway service listed as steps away from the 1/2/3/A/B/C/D trains, as well as M4 and multiple bus routes. Showing is described as easy, with calls welcomed for a private showing.
Key Highlights
- Newly renovated 2BR/1BA corner apartment with approximately 950 SF and freshly painted interiors
- Open windowed eat‑in kitchen with island, new cabinets, and marble countertops and floors
- New marble bathroom and new wood floors, plus extra‑high ceilings
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.9k | $59.88 |
| − Vacancy | −$2.8k | −$2.99 |
| EGI | $54.0k | $56.89 |
| − OpEx | −$24.3k | −$25.60 |
| NOI | $29.7k | $31.29 |
950 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$424.6K
$371.5K – $495.4K
NOI $29,723 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.07M – $2.76M
NOI $165,528 @ 7.0% cap · market cap 24.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Fondation Max Cadet
Dental Office
Noorian Zahra MD
Dental Office
Moghadam Bijan MD
Dental Office
Picture Perfect Pro ...
Photography Service
Jay Goldberg Law ...
Law Firm
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FAQs
What type of property is this?
Residential income property - Newly renovated 2BR/1BA corner unit with eat-in kitchen, island, marble bathroom, and fresh finishes in a six-building complex.
Where is this residential income property located?
The property is located at 549 W 123rd St Unit 549 New York, NY.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Newly renovated 2BR/1BA corner apartment with approximately 950 SF and freshly painted interiors; Open windowed eat‑in kitchen with island, new cabinets, and marble countertops and floors; New marble bathroom and new wood floors, plus extra‑high ceilings
