Move-In Ready Studio in
For Sale
$310,000
80 LA SALLE ST, New York, NY 10027
Extra-large studio with higher ceilings, floor-to-ceiling east and south windows, and four closets in a landscaped community.
Property Size500 SF
Price / SF$620
Days on Market221
Property Features for 80 LA SALLE ST
General Information
Standard status
Active
Size
500 SF
Property subtype
Apartment
Amenities
Onsite fitness center
Walking paths
Playroom
Lush lawns and playground
Recreational rooms
Manicured gardens
Onsite parking garage
Bike storage and additional storage closets
Onsite Woodworking Shop
Onsite Ceramics Studio
Elevator, High Ceiling
3
No Fence
No Parking.
City
None.
Building Details
Year Built
1957
Listing Agency:
Corcoran Group
(212) 355-3550
Listed By:
Jeffrey Edelson · License #10401224070 (NY)
(917) 951-9941
Source:
Xome
Added: Jan 2
Changed: Aug 8
Last Checked: Aug 10 at 3:32AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This extra-large studio features higher-than-average ceilings and floor-to-ceiling windows with eastern and southern exposures. The home has been freshly painted and is described as move-in ready, with a generously proportioned living and dining area and an open layout designed to support flexible use and distinct living zones. Four large closets provide substantial storage.
Located within Morningside Gardens, an 8-acre landscaped community with onsite amenities including a fitness center, walking paths, playroom, recreational rooms, manicured gardens, onsite parking garage, bike storage, and additional storage closets. The community also includes an onsite woodworking shop and ceramics studio.
Conveniently positioned near major subway and bus lines, with access to shopping and dining, the building is also described as being minutes from Midtown and Downtown Manhattan and near Columbia University, Barnard College, and the Manhattan School of Music.
Located within Morningside Gardens, an 8-acre landscaped community with onsite amenities including a fitness center, walking paths, playroom, recreational rooms, manicured gardens, onsite parking garage, bike storage, and additional storage closets. The community also includes an onsite woodworking shop and ceramics studio.
Conveniently positioned near major subway and bus lines, with access to shopping and dining, the building is also described as being minutes from Midtown and Downtown Manhattan and near Columbia University, Barnard College, and the Manhattan School of Music.
Key Highlights
- Extra‑large studio with higher‑than‑average ceilings
- Floor‑to‑ceiling windows with eastern and southern exposures
- 4 large closets for storage
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
$15,644
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
5.05%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 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
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 28.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Extra-large studio with higher ceilings, floor-to-ceiling east and south windows, and four closets in a landscaped community.
Where is this residential income property located?
The property is located at 80 LA SALLE ST New York, NY.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Extra‑large studio with higher‑than‑average ceilings; Floor‑to‑ceiling windows with eastern and southern exposures; 4 large closets for storage
