Renovated Residential Income
For Sale
$649,000
220 MANHATTAN Avenue 1F, New York City, NY 10026
One-bedroom condominium residence with upgraded kitchen, bathroom, wood flooring, and smooth ceilings.
Property Size640 SF
Price / SF$1,014
Days on Market192
Property Features for 220 MANHATTAN Avenue 1F
General Information
Standard status
Active
Size
640 SF
Property subtype
Apartment
Building Details
Building Size
640 SF
Year Built
1988
Listing Agency:
Aciman Realty LLC
(917) 757-7872
Listed By:
Allan M Aciman
(917) 757-7872
Source:
Miradorrealestate
Added: Feb 13
Changed: Aug 16
Last Checked: Aug 15 at 7:29AM
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 Aciman Realty LLC
Investment Insights
Based on property information with market context.
Apartment 1F is a renovated one-bedroom condominium residence measuring 640 square feet within Towers on the Park Condominium, a full-service condominium completed in 1988. Interior improvements include an updated kitchen and bathroom, refreshed wood flooring, and smooth ceilings. The residence is positioned one flight above the building’s stated first-floor designation.
Building amenities include 24-hour doorman service, a live-in superintendent, an on-site property manager, parking garage, two private gardens, community and bike rooms, storage, a residents’ lounge and game room, and ground-floor laundry facilities. Leasing may be permitted with condominium board approval after one year of ownership. Cats are welcome, while dogs are not permitted.
The property is located at 220 Manhattan Avenue in New York City, diagonally across from Morningside Park and near Central Park. Broadway, Columbia University, Barnard College, neighborhood restaurants, grocery stores, bus and subway lines, Citi Bikes, and a Saturday farmers market are nearby.
Building amenities include 24-hour doorman service, a live-in superintendent, an on-site property manager, parking garage, two private gardens, community and bike rooms, storage, a residents’ lounge and game room, and ground-floor laundry facilities. Leasing may be permitted with condominium board approval after one year of ownership. Cats are welcome, while dogs are not permitted.
The property is located at 220 Manhattan Avenue in New York City, diagonally across from Morningside Park and near Central Park. Broadway, Columbia University, Barnard College, neighborhood restaurants, grocery stores, bus and subway lines, Citi Bikes, and a Saturday farmers market are nearby.
Key Highlights
- 640‑square‑foot, renovated one‑bedroom condominium residence
- Updated kitchen and bathroom with refreshed wood flooring
- Smooth ceilings throughout the residence
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
$20,024
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
3.09%
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%
$400,480
$400.5K
Cap Rate 7%
$286,057
$286.1K
Cap Rate 9%
$222,489
$222.5K
Market Conditions
NOI Build-Up for 640 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
$38.3K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$36.4K $56.89/SF
− OpEx
−$16.4K −$25.60/SF
NOI
$20.0K $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%
$400,480
Cap Rate 7%
$286,057
Cap Rate 9%
$222,489
Alternative Uses
Best Use
Apartment 5plus
$286.1K
$250.3K – $333.7K
NOI $20,024 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,514 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,614
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium residence with upgraded kitchen, bathroom, wood flooring, and smooth ceilings.
Where is this residential income property located?
The property is located at 220 MANHATTAN Avenue 1F New York City, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 640‑square‑foot, renovated one‑bedroom condominium residence; Updated kitchen and bathroom with refreshed wood flooring; Smooth ceilings throughout the residence
