Park-Facing Residential Income
For Sale
$385,000
295 Bennett Avenue 8G, New York City, NY 10040
Vacant one-bedroom co-op residence with renovated kitchen, hardwood floors, elevator access, and direct views toward Fort Tryon Park.
Property Size700 SF
Price / SF$550
Days on Market11
Property Features for 295 Bennett Avenue 8G
General Information
Standard status
Active
Size
700 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Amenities
elevator
on-site laundry
bike room
private storage
Building Details
Building Size
700 SF
Year Built
1951
Stories
8
Listing Agency:
Compass
Listed By:
Javier Amor
(213) 870-3320
Source:
Carlinwright
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 24 at 5:32PM
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 8G is a 700-square-foot, one-bedroom co-op on the eighth floor of an elevator building completed in 1951. The living room, bedroom, and kitchen are oriented toward Fort Tryon Park, while the interior includes hardwood flooring and a renovated kitchen with extensive cabinetry and a breakfast bar. The home will be delivered vacant at closing.
The cooperative complex contains 352 units, with an on-site full-time superintendent, laundry facilities, and a bike room and private storage available through wait-lists. Pets, pieds-à-terre, co-purchasing, guarantors, and gifting are permitted. Subletting is allowed with board approval on one-year terms, with renewals also subject to approval.
The property is in Hudson Heights near neighborhood cafes, restaurants, daily services, the Cloisters, and Heather Garden. Transportation options include the A train at 190th Street, the 1 train near Broadway, the M4 bus, and regional service from the George Washington Bridge Bus Station. The George Washington Bridge and Henry Hudson Parkway provide regional road access.
The cooperative complex contains 352 units, with an on-site full-time superintendent, laundry facilities, and a bike room and private storage available through wait-lists. Pets, pieds-à-terre, co-purchasing, guarantors, and gifting are permitted. Subletting is allowed with board approval on one-year terms, with renewals also subject to approval.
The property is in Hudson Heights near neighborhood cafes, restaurants, daily services, the Cloisters, and Heather Garden. Transportation options include the A train at 190th Street, the 1 train near Broadway, the M4 bus, and regional service from the George Washington Bridge Bus Station. The George Washington Bridge and Henry Hudson Parkway provide regional road access.
Key Highlights
- 700 SF one‑bedroom residence on the eighth floor
- Living room, bedroom, and kitchen face Fort Tryon Park
- Renovated kitchen with generous cabinetry and breakfast bar
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
$21,901
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
5.69%
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%
$438,020
$438.0K
Cap Rate 7%
$312,871
$312.9K
Cap Rate 9%
$243,344
$243.3K
Market Conditions
NOI Build-Up for 700 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
$41.9K $59.88/SF
− Vacancy
−$2.1K −$2.99/SF
EGI
$39.8K $56.89/SF
− OpEx
−$17.9K −$25.60/SF
NOI
$21.9K $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%
$438,020
Cap Rate 7%
$312,871
Cap Rate 9%
$243,344
Alternative Uses
Best Use
Apartment 5plus
$312.9K
$273.8K – $365.0K
NOI $21,901 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,968 @ 7.0% cap · market cap 31.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,265
Businesses Nearby
Explore this area
Business Placement
Demographics for 10040, NY
40,405
Population
17,020
Households
2.4
Avg Household Size
39
Median Age
38%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
67,342
Density / Sq Mi
$64,022
Median Household Income
$41,849
Median Earnings
$1,680
Median Rent
$465,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Vacant one-bedroom co-op residence with renovated kitchen, hardwood floors, elevator access, and direct views toward Fort Tryon Park.
Where is this residential income property located?
The property is located at 295 Bennett Avenue 8G New York City, NY.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 700 SF one‑bedroom residence on the eighth floor; Living room, bedroom, and kitchen face Fort Tryon Park; Renovated kitchen with generous cabinetry and breakfast bar
