Residential Income Property with Rooftop
88 MORNINGSIDE Avenue 8G, New York City, NY 10027
For Sale
$699,000
Bright one-bedroom residence with an open kitchen, custom Murphy bed, in-unit laundry, storage, and bike facilities.
Property Size780 SF
Price / SF$896.15
Days on Market158
Property Features for 88 MORNINGSIDE Avenue 8G
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
private rooftop cabana
storage cage
bike storage
live-in resident manager
part-time doorperson
in-unit washer & dryer
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Judith S Kleinman
(917) 806-8671
Source:
Carlinwright
Added: Jun 5
Changed: Nov 6
Last Checked: Nov 8 at 1:26PM
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 Brown Harris Stevens Residential Sales LLC
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Investment Insights
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This 780-square-foot one-bedroom residence features a loft-like layout, south- and east-facing exposure, oversized windows, and maple flooring. The open kitchen includes CaesarStone counters, a stainless steel sink, Miele refrigerator, DeLonghi range, Bosch microwave, and Bosch dishwasher. A custom queen Murphy bed incorporates a workstation, while the residence also offers a spa-style bathroom, stacked Bosch washer and dryer, dedicated storage cage, and bike storage. A private rooftop cabana is part of the property’s amenities, and a tenant is currently in place.
The co-op building was completed in 2011 and operates with condo by-laws. Building services include a live-in resident manager and part-time doorperson. The property is located at 88 MORNINGSIDE Avenue 8G in New York City, with A, D, C, and B train service three blocks away.
The co-op building was completed in 2011 and operates with condo by-laws. Building services include a live-in resident manager and part-time doorperson. The property is located at 88 MORNINGSIDE Avenue 8G in New York City, with A, D, C, and B train service three blocks away.
Key Highlights
- 780 square feet with one‑bedroom layout and south- and east‑facing exposure
- Private rooftop cabana plus dedicated storage cage and bike storage
- Open kitchen with Miele, DeLonghi, and Bosch appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,404
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,080
$488.1K
Cap Rate 7%
$348,629
$348.6K
Cap Rate 9%
$271,156
$271.2K
Market Conditions
NOI Build-Up for 780 SF
Gross rent
$46.7K $59.88/SF
− Vacancy
−$2.3K −$2.99/SF
EGI
$44.4K $56.89/SF
− OpEx
−$20.0K −$25.60/SF
NOI
$24.4K $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 Rate 5%
$488,080
Cap Rate 7%
$348,629
Cap Rate 9%
$271,156
Alternative Uses
Best Use
Apartment 5plus
$348.6K
$305.1K – $406.7K
NOI $24,404 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$545.3K
$477.2K – $636.2K
NOI $38,172 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,585
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
$915,000
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Bright one-bedroom residence with an open kitchen, custom Murphy bed, in-unit laundry, storage, and bike facilities.
Where is this residential income property located?
The property is located at 88 MORNINGSIDE Avenue 8G New York City, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 780 square feet with one‑bedroom layout and south- and east‑facing exposure; Private rooftop cabana plus dedicated storage cage and bike storage; Open kitchen with Miele, DeLonghi, and Bosch appliances
