Two-Bedroom Residential Income
For Sale
$810,000
220 Manhattan Avenue 4K, New York City, NY 10026
Two-bedroom, one-bath condominium with park and cathedral views, on-site amenities, and subway access at the corner.
Property Size849 SF
Price / SF$954.06
Days on Market9
Property Features for 220 Manhattan Avenue 4K
General Information
Standard status
Active
Size
849 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$14,052
Amenities
laundry room
garden
community rooms
garage
bike storage
storage
Building Details
Building Size
849 SF
Year Built
1988
Listing Agency:
CHARNEY REAL ESTATE LLC
Listed By:
Jennifer A McClaren · License #10401315483
(646) 623-5900
Source:
Carlinwright
Added: Sep 16
Changed: Sep 19
Last Checked: Sep 22 at 10:04PM
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 CHARNEY REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, one-bath condominium with an open living and dining area, a king-size primary bedroom, and a second bedroom sized for a queen bed. The home includes a double-deep primary closet, and all appliances were new as of September 2026. Views extend toward Morningside Park and St. John the Divine Cathedral.
Towers On The Park provides a large laundry room, garden, community rooms, bike storage, and general storage. An on-site garage is available with a waiting list. A full-size supermarket operates downstairs in the building. Morningside Park and Central Park are nearby, with restaurants and cafés along the surrounding blocks. C and B trains are at the corner, while the 2 and 3 trains are two blocks away. Bus service connects with Columbia, Barnard, Bank Street, Manhattan School of Music, and the East Side.
Towers On The Park provides a large laundry room, garden, community rooms, bike storage, and general storage. An on-site garage is available with a waiting list. A full-size supermarket operates downstairs in the building. Morningside Park and Central Park are nearby, with restaurants and cafés along the surrounding blocks. C and B trains are at the corner, while the 2 and 3 trains are two blocks away. Bus service connects with Columbia, Barnard, Bank Street, Manhattan School of Music, and the East Side.
Key Highlights
- Two‑bedroom, one‑bath condominium
- Views of Morningside Park and St. John the Divine Cathedral
- All appliances new as of September 2026
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
$26,563
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
3.28%
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%
$531,260
$531.3K
Cap Rate 7%
$379,471
$379.5K
Cap Rate 9%
$295,144
$295.1K
Market Conditions
NOI Build-Up for 849 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
$50.8K $59.88/SF
− Vacancy
−$2.5K −$2.99/SF
EGI
$48.3K $56.89/SF
− OpEx
−$21.7K −$25.60/SF
NOI
$26.6K $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%
$531,260
Cap Rate 7%
$379,471
Cap Rate 9%
$295,144
Alternative Uses
Best Use
Apartment 5plus
$379.5K
$332.0K – $442.7K
NOI $26,563 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.11M
$1.85M – $2.47M
NOI $147,930 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, one-bath condominium with park and cathedral views, on-site amenities, and subway access at the corner.
Where is this residential income property located?
The property is located at 220 Manhattan Avenue 4K New York City, NY.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condominium; Views of Morningside Park and St. John the Divine Cathedral; All appliances new as of September 2026
