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    The Largest CRE Database in the US with Over 1 Million Listings

    101 New York Plz, Unit 23 Manhattan, NY 10023

    Sponsored
    For Lease
    $800 /Mo

    COMMERCIAL - New York (Manhattan), NY

    Type:Office
    Property size:
    104 SF
    Days on Market:
    13
    Last Refresh:
    Feb 4 at 3:06 pm

    Property Features for 101 New York Plz

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Size
    104 SF

    Utilities

    Heating system
    Steam

    We can help!

    Listing Contact
    Russell T. Dinstein
    Russell T. Dinstein

    Red Sparrow Realty Group LLC (212) 601-2686

    Listing agent Russell T. Dinstein (212) 655-7526

    Listing date Jan 23, 2026

    MLS# 933439

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Upper West Side Office Space

    Located on the Upper West Side, this first-floor office space is situated in the Park Royal Cooperative. The space offers approximately 104 square feet with a ceiling height of about 7 feet 8 inches. Intended use is for office space or storage for an individual with zero foot traffic. The space is available for immediate possession with a negotiable lease term. The monthly rent is $800, which equates to $92 per square foot, and includes taxes. Electricity and heat are included in the rent, while the tenant is responsible for providing Internet service. The space is offered in as-is condition. The office has a window that opens to West 73rd Street, is front-facing, and slightly raised from the lobby floor by five steps. A shared bathroom is available on the ground floor. Building amenities include a concierge, doorman, and a live-in super. The New York Sports Club is located next door. The location is near Central Park and the B, C, 1, 2, and 3 trains.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manhattan
    County
    New York
    State
    New York
    Longitude
    -74.0125141
    Latitude
    40.7028527

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    FAQs

    What type of property is this?
    Office space - First-floor office space in Park Royal Cooperative, Upper West Side.
    Where is this office space located?
    The property is located at 101 New York Plz, Unit 23 Manhattan, NY.
    What are key features of this property?
    This property features: - Prime Upper West Side location near Central Park and multiple subway lines (B/C/1/2/3).; - All-inclusive rent of $800 covers taxes, electricity, and heat.; - Building amenities include a concierge, doorman, and live-in super.
    (212) 655-7526
    Request Owner's contact information
    101 New York Plz, Unit 23 Manhattan, NY 10023
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    Manhattan, NY 10023
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    101 New York Plz, Unit 23 Manhattan, NY 10023
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    We can help!
    Listing Contact
    Russell T. Dinstein
    Russell T. Dinstein
    (212) 655-7526
    Learn more
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