Residential Income Property with
For Sale
$625,000
80 LA SALLE Street 7G, New York City, NY 10027
Two-bedroom corner apartment offers garden-facing views, generous storage, and a spacious outdoor terrace.
Property Size950 SF
Price / SF$657.89
Days on Market62
Property Features for 80 LA SALLE Street 7G
General Information
Standard status
Active
Size
950 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
terrace
state-of-the-art gym
children's indoor playrooms
outdoor playground
day care
Tweens activity room
pool table
air hockey
table-tennis
numerous clubs & workshops
ceramics
woodworking
photography
computer
theater & meeting rooms
laundry
storage
parking garage
pet friendly
24/7 security
Building Details
Building Size
950 SF
Year Built
1956
Listing Agency:
Douglas Elliman Real Estate
(917) 256-9921
Listed By:
Athena T Witt · License #REB.0791900
(917) 256-9921
Source:
Miradorrealestate
Added: Jun 24
Changed: Aug 24
Last Checked: Aug 23 at 8:39AM
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 two-bedroom, one-bath apartment occupies a quiet corner position within Morningside Gardens. The approximately 950 SF residence includes eight closets, a large 20' wide terrace, and south- and west-facing views over the complex’s interior gardens. The home remains in original condition, allowing for renovation and reconfiguration of the living, dining, and kitchen areas. The property was built in 1956.
Morningside Gardens comprises six buildings across eight landscaped acres with gardens, ornamental trees, walkways, parking facilities, and recreational areas. Resident amenities include a gym, indoor children’s playrooms, an outdoor playground, daycare, activity and workshop spaces, theater and meeting rooms, laundry, storage, a parking garage, and 24/7 security. The community is near Columbia University, Barnard, Teachers College, Manhattan School of Music, Riverside Church, parks, restaurants, shopping, and bus and subway transportation.
Morningside Gardens comprises six buildings across eight landscaped acres with gardens, ornamental trees, walkways, parking facilities, and recreational areas. Resident amenities include a gym, indoor children’s playrooms, an outdoor playground, daycare, activity and workshop spaces, theater and meeting rooms, laundry, storage, a parking garage, and 24/7 security. The community is near Columbia University, Barnard, Teachers College, Manhattan School of Music, Riverside Church, parks, restaurants, shopping, and bus and subway transportation.
Key Highlights
- Two‑bedroom, one‑bath apartment with approximately 950 SF
- Large 20' wide terrace with south- and west‑facing interior garden views
- Quiet corner residence with 8 closets
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
$29,723
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
4.76%
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%
$594,460
$594.5K
Cap Rate 7%
$424,614
$424.6K
Cap Rate 9%
$330,256
$330.3K
Market Conditions
NOI Build-Up for 950 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
$56.9K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$54.0K $56.89/SF
− OpEx
−$24.3K −$25.60/SF
NOI
$29.7K $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%
$594,460
Cap Rate 7%
$424,614
Cap Rate 9%
$330,256
Alternative Uses
Best Use
Apartment 5plus
$424.6K
$371.5K – $495.4K
NOI $29,723 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.36M
$2.07M – $2.76M
NOI $165,528 @ 7.0% cap · market cap 26.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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 - Two-bedroom corner apartment offers garden-facing views, generous storage, and a spacious outdoor terrace.
Where is this residential income property located?
The property is located at 80 LA SALLE Street 7G New York City, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath apartment with approximately 950 SF; Large 20' wide terrace with south- and west‑facing interior garden views; Quiet corner residence with 8 closets
