Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    113 E 39Th St, Unit New York Manhattan, NY 10016

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,999,950

    Multifamily property near Grand Central Terminal with redevelopment potential.

    Property size:
    6,005 SF

    Property Features for 113 E 39Th St

    General Information

    Standard status
    Active
    Size
    6,005 SF

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Chintan Trivedi
    Chintan Trivedi
    Source: Exitrealty

    Listing Agency: RE/MAX In The City Listing Agent: Chintan Trivedi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Midtown Manhattan Multifamily Property

    This multi-family property is located in Midtown Manhattan, just two blocks from Grand Central Terminal. The building has a square footage of 6,055 and includes a full basement. The first floor is office space. The second floor contains one floor-through apartment. The third floor has two two-bedroom apartments. The fourth floor features one two-bedroom apartment. The fifth floor includes one occupied rent-stabilized studio apartment and one two-bedroom apartment. The property offers flexibility for a triple net lease, with the owner renting the bottom two floors and the buyer taking over the upper apartments. Alternatively, the property can be delivered empty, with the exception of two rent-stabilized tenants, for an owner to modify or rebuild according to their vision.
    Location Intelligence

    Current Use by Public Records

    Lexington Foot Ankle ... Medical Clinic Kenia Capellan Physician Bell Vanessa M Medical Clinic Lexington Plastic Surgeons Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Hair Salon Spa & Massage Center Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Pharmacy

    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
    -73.9780998
    Latitude
    40.749945

    Nearby Similar for Sale

    • $280,000
      2,200 SF

      Turnkey Restaurant Space in Manhattan

      Ready-to-go restaurant in a vibrant commercial setting.
      48th Street, Manhattan, NY 10036
      View Details
    • $69,900
      776 SF

      Turnkey Salon in Midtown Manhattan

      Fully operational lash and brow salon in prime Midtown Manhattan.
      39W New York Plz, Manhattan, NY 10001
      View Details
    • $1,278,000

      Professional/Medical Condominium in Manhattan

      Professional/Medical condominium in a convenient Manhattan location with 24/7 access.
      161 New York Plz, Manhattan, NY 10016
      View Details
    • $50,000

      Manhattan Salon Business Opportunity

      Turnkey salon business in prime Upper East Side location.
      1220 Lexington Ave, Manhattan, NY 10028
      View Details
    • $510,000

      Manhattan Chinatown Office Space

      Office space for sale in Manhattan's Chinatown.
      17 New York Plz, Manhattan, NY 10002
      View Details
    • $1,488,000
      1,847 SF

      Chinatown Commercial Condo for Sale

      Turn-key medical/professional condo in prime Chinatown location.
      198 &304 New York, Manhattan, NY 10013
      View Details
    • New
      $300,000
      2,000 SF

      Manhattan Restaurant Franchise Opportunity

      Turnkey Manhattan restaurant franchise with expansion rights for sale.
      295 7Th Ave, Manhattan, NY 10001
      View Details
    • $60,000
      700 SF

      Established Nail Salon in Manhattan

      Profitable nail salon business for sale in prime Manhattan location.
      125 East 4Th St, Manhattan, NY 10003
      View Details
    • $50,000

      Upper East Side Salon Business

      Turnkey salon business in prime Manhattan location.
      1220 New York Plz, Manhattan, NY 10028
      View Details
    • $999,999

      Chinatown Office Space For Sale

      Premium 884 sq ft office space in vibrant Chinatown.
      8 New York Plz, Manhattan, NY 10038
      View Details
    • $4,880,000

      Renovated Midtown East Office Condo

      Newly renovated office condo near Grand Central Station.
      866 New York Plz, Manhattan, NY 10017
      View Details
    • $150,000

      East Village Pizza Store

      Pizza store for sale in the heart of East Village.
      109 1St Ave, Manhattan, NY 10003
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Multifamily property near Grand Central Terminal with redevelopment potential.
    Where is this mixed-use property located?
    The property is located at 113 E 39Th St, Unit 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: - Prime Midtown Manhattan location, just two blocks from Grand Central Terminal.; - Multi-family building offers flexible usage options: triple net lease, partial occupancy, or vacant delivery (with two rent-stabilized tenants).; - Potential for modification or complete rebuild to suit buyer's vision.
    (917) 637-0161
    Request Owner's contact information
    113 E 39Th St, Unit New York Manhattan, NY 10016
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    113 E 39Th St, Unit New York
    Manhattan, NY 10016
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    113 E 39Th St, Unit New York Manhattan, NY 10016
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chintan Trivedi
    Chintan Trivedi
    Real Estate License ID: 10311203986
    (917) 637-0161 (646) 228-6649 (929) 222-4200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!