Mixed-Use Multifamily
115 E 39th Street New York Manhattan, NY 10016
115 E 39th Street New York, Manhattan, NY, 10016
$4,999,950
For Sale
$4,999,950
MULTI_FAMILY - New York (Manhattan), NY
Property Size6,254 SF
Lot Size0.04 Acres
Price / SF$799.48
Days on Market689
Property Features for 115 E 39th Street New York
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R8B
- Rooms
- Basement
- Parking features
- Open, On Street
- Basement
- Full
- Appliances
- Tankless Water Heater
- Standard status
- Active
- APN
- 0895-0013
- Lot size
- 0.04 Acres
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 5
- Number of units
- 9
- Flooring type
- Combination
Listing Agency
RE/MAX In The City
(929) 222-4200
5776 Mosholu Ave, BRONX, NY
Listed by
Chintan Trivedi · License #10311203986
(917) 637-0161
Added: Aug 29, 2024 Checked: Jul 18 at 10:06 am
MLS# H6325406
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.
Investment Insights
Based on property information with market context.
This multifamily property includes medical and office space on the lower floors and residential units on the upper levels, with an additional penthouse apartment described as part of the original structure. The building is described as having medical office space on the second and third floors, office and medical space on the first floor, and apartments on the fourth and fifth floors, including studios and one-bedroom units. The penthouse level is also referenced as an apartment. Current occupancy includes studio and one-bedroom apartments that are noted as occupied, with two rent-stabilized tenants remaining even in a delivered-empty scenario.
The property is located in Midtown Manhattan, with the remarks noting proximity to Grand Central Terminal. Zoning is listed as R8B.
As described in the offering, there is flexibility for a lease structure where the owner rents the bottom two floors while a buyer takes over the upper apartments, or the property may be delivered empty except for the two rent-stabilized tenants.
The property is located in Midtown Manhattan, with the remarks noting proximity to Grand Central Terminal. Zoning is listed as R8B.
As described in the offering, there is flexibility for a lease structure where the owner rents the bottom two floors while a buyer takes over the upper apartments, or the property may be delivered empty except for the two rent-stabilized tenants.
Key Highlights
- Built in 1910 with original building square footage of 6,254, plus a PH apartment
- Multi‑family layout with medical/office space on the 1st–3rd floors and apartments above
- 1st floor includes office and medical space; 2nd floor medical office; 3rd floor includes 1 studio and 1 one‑bedroom
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $322.0k | $51.48 |
| − Vacancy | −$60.8k | −$9.73 |
| EGI | $261.1k | $41.75 |
| − OpEx | −$65.3k | −$10.44 |
| NOI | $195.8k | $31.31 |
6,254 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.26M
NOI $195,830 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$2.80M
$2.45M – $3.26M
NOI $195,671 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$15.57M
$13.62M – $18.16M
NOI $1,089,697 @ 7.0% cap · market cap 21.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Catscape Productions
Film Production
Kettle Media Concepts, ...
Film Production
iWoman
Media Distribution
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FAQs
What type of property is this?
Apartment building - Multi-floor building with medical/office space on lower levels and apartments above, with two rent-stabilized tenants remaining.
Where is this apartment building located?
The property is located at 115 E 39th Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $4,999,950.
What are key features of this property?
This property features: Built in 1910 with original building square footage of 6,254, plus a PH apartment; Multi‑family layout with medical/office space on the 1st–3rd floors and apartments above; 1st floor includes office and medical space; 2nd floor medical office; 3rd floor includes 1 studio and 1 one‑bedroom
