Renovated Residential Income
For Sale
$630,000
300 Rector Place 8N, New York City, NY 10280
One-bedroom residence with updated finishes, southern exposure, and access to condominium amenities in Battery Park City.
Property Size635 SF
Price / SF$992.13
Days on Market101
Property Features for 300 Rector Place 8N
General Information
Standard status
Active
Size
635 SF
Property subtype
Apartment
Building Details
Building Size
635 SF
Year Built
1986
Listing Agency:
Compass
Listed By:
Meg Walhimer
(917) 751-8360
Source:
Howardhannanyc
Added: May 28
Changed: Aug 31
Last Checked: Sep 5 at 6:01AM
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.
Apartment 8N is a renovated one-bedroom, one-bath residence within Battery Pointe Condominium. The interior includes new hardwood flooring, a redesigned kitchen with full-size stainless steel appliances, granite counters, and custom cabinetry. The bedroom offers two California Closets systems with mirrored doors and enough room for a desk or additional furnishings. Marble bathroom finishes, granite counters, an updated vanity, and built-in storage complete the home. Southern exposure provides natural light and views toward park greenery and the city.
Resident amenities include 24-hour concierge service, a live-in Resident Manager and Super, laundry facilities on every floor, a fitness room overlooking a private courtyard garden, and a furnished rooftop deck with river views. The building also offers a bike room, children's playroom, and private storage options subject to availability. Rector Park, the Hudson River Esplanade, restaurants, supermarkets, drugstores, and dry cleaners are nearby, with major subway lines and Battery Park City schools and shops in the surrounding area. The building was constructed in 1986.
Resident amenities include 24-hour concierge service, a live-in Resident Manager and Super, laundry facilities on every floor, a fitness room overlooking a private courtyard garden, and a furnished rooftop deck with river views. The building also offers a bike room, children's playroom, and private storage options subject to availability. Rector Park, the Hudson River Esplanade, restaurants, supermarkets, drugstores, and dry cleaners are nearby, with major subway lines and Battery Park City schools and shops in the surrounding area. The building was constructed in 1986.
Key Highlights
- One‑bedroom, one‑bath Apartment 8N at Battery Pointe Condominium
- Renovated kitchen with full‑size stainless steel appliances, granite counters, and custom cabinetry
- Two California Closets systems with mirrored doors in the king‑sized bedroom
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
$19,867
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
3.15%
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%
$397,340
$397.3K
Cap Rate 7%
$283,814
$283.8K
Cap Rate 9%
$220,744
$220.7K
Market Conditions
NOI Build-Up for 635 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
$38.0K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$36.1K $56.89/SF
− OpEx
−$16.3K −$25.60/SF
NOI
$19.9K $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%
$397,340
Cap Rate 7%
$283,814
Cap Rate 9%
$220,744
Alternative Uses
Best Use
Apartment 5plus
$283.8K
$248.3K – $331.1K
NOI $19,867 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,642 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23,291
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 - One-bedroom residence with updated finishes, southern exposure, and access to condominium amenities in Battery Park City.
Where is this residential income property located?
The property is located at 300 Rector Place 8N New York City, NY.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath Apartment 8N at Battery Pointe Condominium; Renovated kitchen with full‑size stainless steel appliances, granite counters, and custom cabinetry; Two California Closets systems with mirrored doors in the king‑sized bedroom
