Residential Income Studio Loft with High
For Sale
$299,000
Pending
80 LA SALLE Street 2E, New York City, NY 10027
Bright studio loft in Morningside Gardens co-op with high ceilings, a modern renovated bathroom, and a window-lined kitchen.
Property Size525 SF
Days on Market202
Property Features for 80 LA SALLE Street 2E
General Information
Standard status
Pending
Size
525 SF
Property subtype
Apartment
Building Details
Building Size
525 SF
Year Built
1956
Listing Agency:
Corcoran Group
(212) 470-8891
Listed By:
Eliety Lopes
(212) 470-8891
Source:
Howardhannanyc
Added: Jan 20
Changed: Aug 8
Last Checked: Aug 10 at 9:53AM
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.
Bright studio loft in the Morningside Gardens cooperative community with southeast exposure and high ceilings. The layout is described as functioning like a one-bedroom, with room for a preferred bed size, a cozy couch, and a dedicated study area with southern views. The expansive living space includes an extra-large 2-panel window with south or east views.
The kitchen is highlighted as window-lined and equipped with a Bertazzoni freestanding bottom-freezer refrigerator and gas range. The refrigerator features Total No-Frost technology and dual air cooling, with stainless steel and tempered glass shelving. Additional prep and storage include a John Boos stainless steel worktable with sink and mounted shelves. A modern renovated bathroom completes the home. The unit size is 525 SF and the building was built in 1956.
Morningside Gardens is an eight-acre cooperative community with amenities including a state-of-the-art fitness center, walking paths and manicured gardens, lawns and a playground, playroom and recreational rooms, and a secure onsite parking garage plus additional storage closets (waitlist). The co-op also offers discounted electricity rates through a community bulk purchasing program. The property is described as in the heart of Morningside Heights with steps to Columbia University, Barnard College, and the Manhattan School of Music, and easy access to the 1 train and A, B, C, D subway lines, plus the M60 Bus to LaGuardia Airport.
The kitchen is highlighted as window-lined and equipped with a Bertazzoni freestanding bottom-freezer refrigerator and gas range. The refrigerator features Total No-Frost technology and dual air cooling, with stainless steel and tempered glass shelving. Additional prep and storage include a John Boos stainless steel worktable with sink and mounted shelves. A modern renovated bathroom completes the home. The unit size is 525 SF and the building was built in 1956.
Morningside Gardens is an eight-acre cooperative community with amenities including a state-of-the-art fitness center, walking paths and manicured gardens, lawns and a playground, playroom and recreational rooms, and a secure onsite parking garage plus additional storage closets (waitlist). The co-op also offers discounted electricity rates through a community bulk purchasing program. The property is described as in the heart of Morningside Heights with steps to Columbia University, Barnard College, and the Manhattan School of Music, and easy access to the 1 train and A, B, C, D subway lines, plus the M60 Bus to LaGuardia Airport.
Key Highlights
- 525 SF studio loft in Morningside Gardens cooperative with southeast exposure
- High ceilings and an extra‑large 2‑panel window with south or east views
- Window‑lined kitchen with Bertazzoni gas range plus Total No‑Frost bottom‑freezer refrigerator
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
$16,426
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
5.49%
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%
$328,520
$328.5K
Cap Rate 7%
$234,657
$234.7K
Cap Rate 9%
$182,511
$182.5K
Market Conditions
NOI Build-Up for 525 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
$31.4K $59.88/SF
− Vacancy
−$1.6K −$2.99/SF
EGI
$29.9K $56.89/SF
− OpEx
−$13.4K −$25.60/SF
NOI
$16.4K $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%
$328,520
Cap Rate 7%
$234,657
Cap Rate 9%
$182,511
Alternative Uses
Best Use
Apartment 5plus
$234.7K
$205.3K – $273.8K
NOI $16,426 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,476 @ 7.0% cap · market cap 30.59%
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 - Bright studio loft in Morningside Gardens co-op with high ceilings, a modern renovated bathroom, and a window-lined kitchen.
Where is this residential income property located?
The property is located at 80 LA SALLE Street 2E New York City, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 525 SF studio loft in Morningside Gardens cooperative with southeast exposure; High ceilings and an extra‑large 2‑panel window with south or east views; Window‑lined kitchen with Bertazzoni gas range plus Total No‑Frost bottom‑freezer refrigerator
