6-Unit Apartment
109 East 37th Street, New York, NY 10016
For Sale
New
Contact for pricing
Most residences will be vacant at transfer, while a rent-stabilized apartment remains leased through February 2027.
Property Size6,195 SF
Price / SF$702.18
Days on Market7
Property Features for 109 East 37th Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Cushman & Wakefield New York
Listed By:
John Ciraulo · License NY #10301211304
(212) 660-7700
Source:
Crexi
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 8 at 4:59PM
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 Cushman & Wakefield New York
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-unit townhouse, built circa 1910, contains 6,195 square feet: a ground- and parlor-floor owner’s duplex plus five one-bedroom apartments. Five units, including the duplex, are expected to be vacant at delivery; the remaining apartment is rent stabilized and leased through February 2027. The property includes approximately 2,100 square feet of unused air rights and has Tax Class 2A protection. The vacant apartments may be renovated, occupied, or combined, as supported by the building’s configuration.
At 109 East 37th Street, the building sits between Park and Lexington Avenues within the Murray Hill Historic District. Grand Central Terminal, the Morgan Library & Museum, and retail and dining along Third and Lexington Avenues are among the nearby destinations. Grand Central-42nd Street provides access to the 4, 5, 6, and 7 trains, with bus service also in the area.
At 109 East 37th Street, the building sits between Park and Lexington Avenues within the Murray Hill Historic District. Grand Central Terminal, the Morgan Library & Museum, and retail and dining along Third and Lexington Avenues are among the nearby destinations. Grand Central-42nd Street provides access to the 4, 5, 6, and 7 trains, with bus service also in the area.
Key Highlights
- 6,195 square feet across six units: an owner’s duplex and five one‑bedroom apartments
- Five of six units, including the duplex, will be delivered vacant
- One rent‑stabilized apartment is leased through February 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$193,825
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,876,500
$3.9M
Cap Rate 7%
$2,768,929
$2.8M
Cap Rate 9%
$2,153,611
$2.2M
Market Conditions
NOI Build-Up for 6,195 SF
Gross rent
$371.0K $59.88/SF
− Vacancy
−$18.5K −$2.99/SF
EGI
$352.4K $56.89/SF
− OpEx
−$158.6K −$25.60/SF
NOI
$193.8K $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%
$3,876,500
Cap Rate 7%
$2,768,929
Cap Rate 9%
$2,153,611
Alternative Uses
Best Use
Apartment 5plus
$2.77M
$2.42M – $3.23M
NOI $193,825 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $303,174 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
82,950
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Apartment buildings in New York
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Most residences will be vacant at transfer, while a rent-stabilized apartment remains leased through February 2027.
Where is this apartment building located?
The property is located at 109 East 37th Street New York, NY.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: 6,195 square feet across six units: an owner’s duplex and five one‑bedroom apartments; Five of six units, including the duplex, will be delivered vacant; One rent‑stabilized apartment is leased through February 2027
