Loft-Style Residential Income
New
For Sale
$1,250,000
2300 Frederick Douglass Boulevard 7G, New York City, NY 10027
Two-bedroom condominium residence with flexible entertaining space, elevated ceilings, private laundry, and building fitness amenities.
Property Size1,300 SF
Price / SF$961.54
Days on Market4
Property Features for 2300 Frederick Douglass Boulevard 7G
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,560
Amenities
Juliet balcony
washer/dryer
storage bin
part-time doormen
fitness center
roof decks
Building Details
Building Size
1,300 SF
Year Built
2010
Listing Agency:
Compass
Listed By:
Lucie Holt
(917) 770-4953
Source:
Miradorrealestate
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 11 at 1:03PM
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 Compass
Investment Insights
Based on property information with market context.
Residence 7G at the Apex Condominium offers 1,300 square feet with a loft-inspired layout, two bedrooms, two bathrooms, and 9-foot ceilings. The interior includes a large living room, dedicated dining area, hardwood flooring, extensive closet space, and a Juliet balcony. A separate primary suite provides a walk-in closet and en-suite bathroom with double sinks, while the second bath includes a tub. The open kitchen features stainless steel appliances and a Caesarstone countertop, and an in-unit washer and dryer add convenience. Southeast-facing views and oversized windows bring natural light into the home.
Building amenities include part-time doormen, a fitness center, two roof decks, and basement storage. The property is at 2300 Frederick Douglass Boulevard in New York City, with Central Park and city views from the roof decks. Express subway service is described as a five-minute walk away, with cross-town buses and overground trains also nearby. The building was completed in 2010.
Building amenities include part-time doormen, a fitness center, two roof decks, and basement storage. The property is at 2300 Frederick Douglass Boulevard in New York City, with Central Park and city views from the roof decks. Express subway service is described as a five-minute walk away, with cross-town buses and overground trains also nearby. The building was completed in 2010.
Key Highlights
- 1,300 SF two‑bedroom, two‑bathroom residence at the Apex Condominium
- Loft‑inspired interior with 9‑foot ceilings, hardwood floors, and Juliet balcony
- Open kitchen with stainless steel appliances and Caesarstone countertop
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
$40,673
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
3.25%
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%
$813,460
$813.5K
Cap Rate 7%
$581,043
$581.0K
Cap Rate 9%
$451,922
$451.9K
Market Conditions
NOI Build-Up for 1,300 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
$77.8K $59.88/SF
− Vacancy
−$3.9K −$2.99/SF
EGI
$74.0K $56.89/SF
− OpEx
−$33.3K −$25.60/SF
NOI
$40.7K $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%
$813,460
Cap Rate 7%
$581,043
Cap Rate 9%
$451,922
Alternative Uses
Best Use
Apartment 5plus
$581.0K
$508.4K – $677.9K
NOI $40,673 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.24M
$2.83M – $3.78M
NOI $226,512 @ 7.0% cap · market cap 18.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
9,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium residence with flexible entertaining space, elevated ceilings, private laundry, and building fitness amenities.
Where is this residential income property located?
The property is located at 2300 Frederick Douglass Boulevard 7G New York City, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1,300 SF two‑bedroom, two‑bathroom residence at the Apex Condominium; Loft‑inspired interior with 9‑foot ceilings, hardwood floors, and Juliet balcony; Open kitchen with stainless steel appliances and Caesarstone countertop
