Residential Income Property with Courtyard
For Sale
$670,000
377 Rector Place 1D, New York City, NY 10280
One-bedroom apartment with high ceilings, updated kitchen finishes, extensive storage, and access to full-service condominium amenities.
Property Size654 SF
Price / SF$1,024
Days on Market44
Property Features for 377 Rector Place 1D
General Information
Standard status
Active
Size
654 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$10,100
Amenities
24-hour doorman
concierge
live-in superintendent
common laundry room
bike room
storage facilities
Terrace Club
health club
swimming pool
outdoor deck
retractable sunroof
steam room
sauna
fitness classes
Building Details
Building Size
654 SF
Year Built
1985
Stories
25
Listing Agency:
Compass
(917) 882-9533
Listed By:
Rebecca Buchanan
(917) 882-9533
Source:
Cbwarburg
Added: Jun 28
Changed: Aug 5
Last Checked: Aug 10 at 9:20AM
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 1D is an elevated first-floor residence with 654 SF, an open living and dining area, and 11' ceilings. The layout includes one bedroom, one bathroom, an updated kitchen with granite countertops, and multiple storage areas, including coat, pantry, linen, and bedroom closets. East-facing windows overlook the courtyard garden, while the private entry is positioned along a hallway behind the elevators.
Liberty House is a 25-story condominium completed in 1985 with a renovated lobby, 24-hour doorman and concierge service, live-in superintendent, common laundry, bike room, and storage facilities. Management approval is required for pets. Residents may also use the Terrace Club across the street, which offers a fee-based riverfront health club, swimming pool, outdoor deck, steam room, sauna, and fitness classes. The Hudson River Promenade, parks, and running and cycling paths are nearby.
Liberty House is a 25-story condominium completed in 1985 with a renovated lobby, 24-hour doorman and concierge service, live-in superintendent, common laundry, bike room, and storage facilities. Management approval is required for pets. Residents may also use the Terrace Club across the street, which offers a fee-based riverfront health club, swimming pool, outdoor deck, steam room, sauna, and fitness classes. The Hudson River Promenade, parks, and running and cycling paths are nearby.
Key Highlights
- 654 SF one‑bedroom, one‑bathroom apartment
- Elevated first‑floor position with 11' ceilings
- East‑facing courtyard garden outlook
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
$20,462
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
3.05%
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%
$409,240
$409.2K
Cap Rate 7%
$292,314
$292.3K
Cap Rate 9%
$227,356
$227.4K
Market Conditions
NOI Build-Up for 654 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
$39.2K $59.88/SF
− Vacancy
−$2.0K −$2.99/SF
EGI
$37.2K $56.89/SF
− OpEx
−$16.7K −$25.60/SF
NOI
$20.5K $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%
$409,240
Cap Rate 7%
$292,314
Cap Rate 9%
$227,356
Alternative Uses
Best Use
Apartment 5plus
$292.3K
$255.8K – $341.0K
NOI $20,462 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,953 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom apartment with high ceilings, updated kitchen finishes, extensive storage, and access to full-service condominium amenities.
Where is this residential income property located?
The property is located at 377 Rector Place 1D New York City, NY.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 654 SF one‑bedroom, one‑bathroom apartment; Elevated first‑floor position with 11' ceilings; East‑facing courtyard garden outlook
