Medical Office in Carnegie
1175 Park Avenue New York, NY 10128
For Sale
$2,625,000
Ground-floor medical office in prime Upper East Side location.
Property Size3,000 SF
Price / SF$875
Days on Market258
Property Features for 1175 Park Avenue
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Residential
Building Details
- Year Built
- 1925
Listing Agency:
East Side
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Nov 8, 2025
Changed: Jul 10
Last Checked: Jul 24 at 8:11AM
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 East Side
Investment Insights
Based on property information with market context.
Located at 1175 Park Avenue, Suite 1C, this ground-floor medical office is situated at the base of a luxury residential co-op. The approximately 3,000-square-foot layout includes oversized waiting and admin/file areas, a reception, six exam rooms, five offices/consults, a storage room, seven closets, and four restrooms. The suite features a fireplace in the waiting area and central air conditioning. It also has a secondary ingress and a rear egress. The space is adaptable to any medical specialty. Located in Carnegie Hill on the Upper East Side, between 92nd Street and 93rd Street, 1175 Park Avenue offers accessibility to public transportation via the 4, 5, and 6 subway lines along Lexington Avenue, as well as uptown/downtown bus routes. The location is proximate to leading medical institutions, including Mount Sinai Hospital, Lenox Hill Hospital, NYC Health+ Hospitals, NewYork-Presbyterian/Weill Cornell Medical Center, Hospital for Special Surgery (HSS), and Memorial Sloan Kettering Cancer Center.
Key Highlights
- Prime Carnegie Hill location on Park Avenue, Upper East Side
- Adaptable 3,000 sq ft medical office space suitable for any specialty
- Proximity to leading medical institutions (Mount Sinai, Lenox Hill, etc.)
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 | $198.0k | $66.00 |
| − Vacancy | −$33.7k | −$11.22 |
| EGI | $164.3k | $54.78 |
| − OpEx | −$41.1k | −$13.69 |
| NOI | $123.3k | $41.08 |
3,000 SF · lease $66.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.05M
NOI $123,255 @ 7.0% cap · market cap 4.70%
Second Best
Healthcare Medical
$870.2K
$761.4K – $1.02M
NOI $60,912 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$2.13M
$1.87M – $2.49M
NOI $149,311 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
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 medical office in prime Upper East Side location.
Where is this medical office space located?
The property is located at 1175 Park Avenue New York, NY.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: Prime Carnegie Hill location on Park Avenue, Upper East Side; Adaptable 3,000 sq ft medical office space suitable for any specialty; Proximity to leading medical institutions (Mount Sinai, Lenox Hill, etc.)
