High-Floor Residential Income
For Sale
$850,000
50 HENRY Street 7B, New York City, NY 10002
Single-bedroom condominium with a private balcony, skyline outlooks, and express transit within a five-minute walk.
Property Size760 SF
Price / SF$1,118
Days on Market10
Property Features for 50 HENRY Street 7B
General Information
Standard status
Active
Size
760 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$12,816
Amenities
foyer with storage
oversized windows
private balcony
pass-through counter
dedicated window for kitchen
walk-in closet
walk-in shower
skyline views
Building Details
Building Size
760 SF
Year Built
1991
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Joshua B Rubin · License #30RU0854049
(917) 727-6321
Source:
Thethomas
Added: Sep 15
Changed: Sep 23
Last Checked: Sep 24 at 5:42PM
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.
This high-floor, single-bedroom condominium was built in 1991 and features a defined foyer with substantial storage, a bright main living area, and oversized windows opening to a private balcony. The kitchen includes its own window and a pass-through counter connecting it visually with the living room. The bedroom includes a walk-in closet, while the adjoining bathroom is fitted with a walk-in shower.
The residence offers broad skyline views and convenient access to express transit located within a five-minute walk. It is also near lower Manhattan’s culinary and cultural corridor, placing dining and cultural destinations within the surrounding urban setting.
The residence offers broad skyline views and convenient access to express transit located within a five-minute walk. It is also near lower Manhattan’s culinary and cultural corridor, placing dining and cultural destinations within the surrounding urban setting.
Key Highlights
- High‑floor, single‑bedroom condominium
- Private balcony with broad skyline views
- Oversized windows provide substantial natural light
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
$23,853
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
2.81%
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%
$477,060
$477.1K
Cap Rate 7%
$340,757
$340.8K
Cap Rate 9%
$265,033
$265.0K
Market Conditions
NOI Build-Up for 760 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
$45.5K $59.88/SF
− Vacancy
−$2.1K −$2.81/SF
EGI
$43.4K $57.07/SF
− OpEx
−$19.5K −$25.68/SF
NOI
$23.9K $31.39/SF
Area
ZIP 10002
Vacancy
4.70%
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%
$477,060
Cap Rate 7%
$340,757
Cap Rate 9%
$265,033
Alternative Uses
Best Use
Apartment 5plus
$340.8K
$298.2K – $397.6K
NOI $23,853 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,422 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-bedroom condominium with a private balcony, skyline outlooks, and express transit within a five-minute walk.
Where is this residential income property located?
The property is located at 50 HENRY Street 7B New York City, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High‑floor, single‑bedroom condominium; Private balcony with broad skyline views; Oversized windows provide substantial natural light
