Renovated Residential Income
For Sale
$550,000
280 RECTOR Place 7E, New York City, NY 10280
Renovated unit with spa-style bath, stainless steel kitchen, park and World Trade Center views, and extensive building amenities.
Property Size600 SF
Price / SF$916.67
Days on Market8
Property Features for 280 RECTOR Place 7E
General Information
Standard status
Active
Size
600 SF
Property subtype
Apartment
Building Details
Building Size
600 SF
Year Built
1987
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Joshua Lieberman · License #10301214798
(917) 414-8280
Source:
Howardhannanyc
Added: Aug 27
Changed: Sep 2
Last Checked: Sep 2 at 12:51AM
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.
Unit 7E is a renovated residential condominium residence with a north-facing living room, a separate bedroom, and substantial closet storage. The kitchen is fitted with stainless steel appliances, granite countertops, and cabinetry. A spa-style bathroom includes a multi-head shower, generous vanity, and additional storage. The property size is 600 square feet, and the building was completed in 1987.
The residence is at 280 Rector Place in Battery Park City, with views toward the park and World Trade Center. Building amenities include a doorman, live-in superintendent, gym, roof deck, lounge, children’s playroom, dance studio, storage, bike storage, and an attached garage. Grocery stores, restaurants, parks, the riverfront esplanade, entertainment, and shopping are located nearby, with access to the Downtown Connection, M20, M9, and nearby trains.
The residence is at 280 Rector Place in Battery Park City, with views toward the park and World Trade Center. Building amenities include a doorman, live-in superintendent, gym, roof deck, lounge, children’s playroom, dance studio, storage, bike storage, and an attached garage. Grocery stores, restaurants, parks, the riverfront esplanade, entertainment, and shopping are located nearby, with access to the Downtown Connection, M20, M9, and nearby trains.
Key Highlights
- 600‑square‑foot residential unit at 280 Rector Place, Unit 7E
- Renovated bathroom with a shower featuring 10 shower heads
- North‑facing living room with park and World Trade Center views
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
$18,772
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
3.41%
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%
$375,440
$375.4K
Cap Rate 7%
$268,171
$268.2K
Cap Rate 9%
$208,578
$208.6K
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
$35.9K $59.88/SF
− Vacancy
−$1.8K −$2.99/SF
EGI
$34.1K $56.89/SF
− OpEx
−$15.4K −$25.60/SF
NOI
$18.8K $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%
$375,440
Cap Rate 7%
$268,171
Cap Rate 9%
$208,578
Alternative Uses
Best Use
Apartment 5plus
$268.2K
$234.7K – $312.9K
NOI $18,772 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,544 @ 7.0% cap · market cap 19.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 10280, NY
8,993
Population
5,015
Households
1.8
Avg Household Size
38
Median Age
90%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
89,930
Density / Sq Mi
$206,250
Median Household Income
$131,677
Median Earnings
$3,501
Median Rent
$893,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated unit with spa-style bath, stainless steel kitchen, park and World Trade Center views, and extensive building amenities.
Where is this residential income property located?
The property is located at 280 RECTOR Place 7E New York City, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 600‑square‑foot residential unit at 280 Rector Place, Unit 7E; Renovated bathroom with a shower featuring 10 shower heads; North‑facing living room with park and World Trade Center views
