Updated Residential Income
For Sale
$300,000
86 Thayer Street 2-C, New York City, NY 10040
Fully renovated co-op residence with stone kitchen finishes, in-unit laundry, and convenient access to parks and transit.
Property Size487 SF
Price / SF$616.02
Days on Market100
Property Features for 86 Thayer Street 2-C
General Information
Standard status
Active
Size
487 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Amenities
hardwood floors
recessed lighting
thru-wall A/C
steam heating
open living/dining
windowed kitchen
stone countertops
white tile backsplash
custom cabinetry
stainless steel appliances
dishwasher
microwave
in-unit washer/dryer
live-in super
pets allowed
guarantors allowed
Building Details
Building Size
487 SF
Year Built
1928
Construction
pre-war
Tenancy
Single
Listing Agency:
REAVIS DEVELOPMENT MARKETING LLC
(646) 361-3276
Listed By:
Natanel Malkoukian
(646) 361-3276
Source:
Howardhannanyc
Added: May 3
Changed: Aug 10
Last Checked: Aug 10 at 9:13AM
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 REAVIS DEVELOPMENT MARKETING LLC
Investment Insights
Based on property information with market context.
This 1928 pre-war co-op residence has been comprehensively updated with contemporary fixtures and finishes while retaining traditional character. Tall sash windows bring natural light into the home, complemented by hardwood flooring, recessed lighting, thru-wall A/C, and steam heat. The open living and dining area connects to a windowed kitchen with stone countertops, custom cabinetry, stainless steel appliances, dishwasher, and microwave. The bathroom includes large-format tile, matte black fixtures, a wood veneer vanity, and a deep tub. An in-unit stacked washer and dryer adds convenience.
The property is situated in Fort George near Fort Tryon Park and The Met Cloisters, with additional access to Highbridge Park, Isham Park, Inwood Hill Park, the Hudson River Greenway, restaurants, shops, and public athletic facilities. The 1 and A subway lines provide access across Manhattan. Building amenities and policies include a live-in superintendent, guarantor acceptance, and pets.
The property is situated in Fort George near Fort Tryon Park and The Met Cloisters, with additional access to Highbridge Park, Isham Park, Inwood Hill Park, the Hudson River Greenway, restaurants, shops, and public athletic facilities. The 1 and A subway lines provide access across Manhattan. Building amenities and policies include a live-in superintendent, guarantor acceptance, and pets.
Key Highlights
- Comprehensively renovated pre‑war co‑op building dating to 1928
- Windowed kitchen with stone counters, custom cabinetry, and full‑size stainless steel appliances
- Hardwood floors, recessed lighting, tall sash windows, and steam heat
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
$15,237
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
5.08%
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%
$304,740
$304.7K
Cap Rate 7%
$217,671
$217.7K
Cap Rate 9%
$169,300
$169.3K
Market Conditions
NOI Build-Up for 487 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
$29.2K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$27.7K $56.89/SF
− OpEx
−$12.5K −$25.60/SF
NOI
$15.2K $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%
$304,740
Cap Rate 7%
$217,671
Cap Rate 9%
$169,300
Alternative Uses
Best Use
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,237 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,855 @ 7.0% cap · market cap 28.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 10040, NY
40,405
Population
17,020
Households
2.4
Avg Household Size
39
Median Age
38%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
67,342
Density / Sq Mi
$64,022
Median Household Income
$41,849
Median Earnings
$1,680
Median Rent
$465,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fully renovated co-op residence with stone kitchen finishes, in-unit laundry, and convenient access to parks and transit.
Where is this residential income property located?
The property is located at 86 Thayer Street 2-C New York City, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Comprehensively renovated pre‑war co‑op building dating to 1928; Windowed kitchen with stone counters, custom cabinetry, and full‑size stainless steel appliances; Hardwood floors, recessed lighting, tall sash windows, and steam heat
