Ground-Floor Medical Office
1160 PARK AVE Unit 1160 New York, NY 10128
For Sale
$1,295,000
Ground-floor suite with lobby-adjacent storage/office and a secondary entrance for flexible access.
Property Size2,200 SF
Price / SF$588.64
Days on Market262
Property Features for 1160 PARK AVE Unit 1160
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1925
Listing Agency:
Corcoran Group
(212) 355-3550
Listed By:
Paul Wexler · License #30WE0902877
(212) 836-1075
Source:
Xome
Added: Nov 4, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:54AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This ground-floor medical co-op features an approximately 1,850 SF main office suite along with an additional 350 SF storage/office space off the lobby. The unit includes lobby-accessible secondary space and supplemental storage/office areas.
The layout is served by a shared street entrance on Park Ave that is separate from the main lobby, and there is also secondary ingress/egress on East 92nd Street designed to support more flexible patient and staff flow.
A note included in the remarks is that the co-op’s certificate of occupancy for medical use allows for medical and may also allow residential use with proper board approval, subject to the required approvals.
The layout is served by a shared street entrance on Park Ave that is separate from the main lobby, and there is also secondary ingress/egress on East 92nd Street designed to support more flexible patient and staff flow.
A note included in the remarks is that the co-op’s certificate of occupancy for medical use allows for medical and may also allow residential use with proper board approval, subject to the required approvals.
Key Highlights
- 1,850 SF ground‑floor main office suite plus 350 SF storage/office off the lobby
- Lobby‑adjacent storage/office space included
- Secondary ingress/egress on East 92nd Street for flexible patient and staff flow
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 | $145.2k | $66.00 |
| − Vacancy | −$24.7k | −$11.22 |
| EGI | $120.5k | $54.78 |
| − OpEx | −$30.1k | −$13.69 |
| NOI | $90.4k | $41.08 |
2,200 SF · lease $66.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,387 @ 7.0% cap · market cap 6.98%
Second Best
Healthcare Medical
$638.1K
$558.4K – $744.5K
NOI $44,669 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,495 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
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FAQs
What type of property is this?
Medical Office Space - Ground-floor suite with lobby-adjacent storage/office and a secondary entrance for flexible access.
Where is this medical office space located?
The property is located at 1160 PARK AVE Unit 1160 New York, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 1,850 SF ground‑floor main office suite plus 350 SF storage/office off the lobby; Lobby‑adjacent storage/office space included; Secondary ingress/egress on East 92nd Street for flexible patient and staff flow
